We lease various real estate, including certain operating facilities, warehouses, office space, and land. We also lease material handling equipment, vehicles, and certain other equipment. Our leases have remaining lease terms of one to 20 years.

The components of total lease costs, net, consisted of the following (dollars in millions):

(a)	Supply-chain-related lease costs are included in “Cost of sales” and the remainder is recorded in “Selling, general, and administrative expenses.” Interest on lease liabilities for finance leases is included in “Interest expense, net,” in our Consolidated Statements of Earnings.

Operating and finance leases, with initial terms greater than one year, were as follows (dollars in millions):


	As of May 31, 2020
	Operating		Finance
	Leases		Leases		Total
Assets:
Operating lease assets	$	167.0	$	—	$	167.0
Property, plant and equipment, net (a)		—		11.3		11.3
Total leased assets	$	167.0	$	11.3	$	178.3

Liabilities:
Lease liabilities due within one year:
Accrued liabilities	$	28.4	$	—	$	28.4
Current portion of long-term debt and financing obligations		—		2.8		2.8
Long-term lease liabilities:
Other noncurrent liabilities		144.6		—		144.6
Long-term debt and financing obligations, excluding current portion		—		10.5		10.5
Total lease liabilities	$	173.0	$	13.3	$	186.3

(a)	Finance leases are net of accumulated amortization of $12.2 million.

The maturities of our lease liabilities for operating and finance leases at May 31, 2020 for the next five fiscal years and thereafter are as follows (dollars in millions):


	Operating		Finance
	Leases		Leases		Total
2021	$	32.7	$	3.2	$	35.9
2022		29.1		2.9		32.0
2023		21.8		2.0		23.8
2024		20.8		1.2		22.0
2025		18.8		0.8		19.6
Thereafter		78.2		5.7		83.9
Total lease payments		201.4		15.8		217.2
Less: Interest		(28.4)		(2.5)		(30.9)
Present value of lease liabilities	$	173.0	$	13.3	$	186.3

Weighted-average remaining lease term (years)		8.3		9.3
Weighted-average discount rate		3.6%		3.3%

At May 26, 2019, minimum lease payments under non-cancellable leases with lease terms in excess of one year, and accounted for under the previous lease accounting standard, were as follows (dollars in millions):


	Operating		Capital
	Leases		Leases (a)		Total
2020	$	18.6	$	7.5	$	26.1
2021		16.5		7.2		23.7
2022		15.7		7.2		22.9
2023		10.5		6.4		16.9
2024		8.6		5.9		14.5
Thereafter		26.6		73.5		100.1
Total lease payments	$	96.5	$	107.7	$	204.2
Discount to present value				(28.8)		(28.8)
Total lease liability			$	78.9	$	175.4
Current portion of financing obligations				(4.3)		(4.3)
Long-term financing obligations, excluding current portion			$	74.6	$	171.1

(a)

Includes unamortized portion of a deferred gain related to a sale leaseback that was eliminated from the Consolidated Balance Sheet as part of the cumulative-effect adjustment at adoption of ASC 842. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, for more information.

Rent expense, prior to the adoption of ASC 842, was $24.3 million and $26.0 million in fiscal 2019 and 2018, respectively.

Supplemental cash flow information related to leases was as follows (dollars in millions):


	Year Ended May 31, 2020
	Operating		Finance
	Leases		Leases		Total
Cash paid for amounts included in the measurement of lease liabilities:
Cash used for operating activities	$	26.8	$	—	$	26.8
Cash used for financing activities		—		2.6		2.6
Noncash investing and financing activities:
Assets obtained in exchange for new operating lease obligations		41.4		—		41.4
Assets obtained in exchange for new finance lease obligations		—		2.2		2.2