Leases

9 Months Ended

Sep. 30, 2020

LEASESThe Company leases office space, warehouses, vehicles, and equipment. Leases have remaining lease terms of 1 year to 20 years, some of which have renewal and termination options. Termination options are exercisable at the Company's option. Terms and conditions to extend or terminate are recognized as part of the right-of-use assets and lease liabilities where prescribed by the guidance. The majority of our leases are operating leases. Finance leases are immaterial to our condensed consolidated financial statements.

Operating lease expense is as follows:


	Three months ended September 30, 2020		Three months ended September 30, 2019		Nine months ended September 30, 2020		Nine months ended September 30, 2019
Operating lease cost	$	12.8	$	12.4	$	38.3	$	37.5
Short-term and variable lease cost	6.7		7.9		19.5		21.8
Total lease cost	$	19.5	$	20.3	$	57.8	$	59.3

Supplemental cash flow information related to operating leases is as follows:


	Nine months ended September 30, 2020		Nine months ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - Payments on operating leases	$	38.3	$	37.5
Right-of-use assets obtained in exchange for new lease obligations:


Operating leases	$	42.0	$	142.8

Supplemental balance sheet information related to operating leases is as follows:


	Financial statement line item	September 30, 2020		December 31, 2019

Operating lease right-of-use assets	Other assets	$	127.4	$	110.4



Operating lease liabilities	Accrued expenses and other liabilities	38.2		35.0

Operating lease liabilities	Other long-term liabilities	93.1		78.2

Total lease liabilities		$	131.3	$	113.2

Weighted average remaining lease terms and discount rates for operating leases are as follows:


	September 30, 2020		December 31, 2019
Weighted Average Remaining Lease Term	4.3 years		4.5 years


Weighted Average Discount Rate	6.4	%	7.3	%

Maturities of lease liabilities are as follows:


	As of September 30, 2020		As of December 31, 2019
	Operating Leases
2020	$	12.9	$	43.3
2021	43.4		31.6
2022	35.1		24.1
2023	27.6		18.0
2024	16.9		10.6
Thereafter	18.6		14.2
Total Lease Payments	154.5		141.8
Less: Imputed Interest	(23.2)		(28.6)
Present value of lease liabilities	$	131.3	$	113.2