Leases

9 Months Ended

Sep. 30, 2019

The Company has operating leases for corporate offices, data centers, vehicles and certain equipment. The operating leases have remaining lease terms of 1 year to 6 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year.

As of September 30, 2019, the ROU asset of $40.3 million was included within Other assets and the lease liability of $45.3 million was included within Other liabilities on the Condensed Consolidated Balance Sheet.

The following table summarizes information about the Company’s operating leases for the three and nine months ended September 30, 2019 (in millions):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
Operating lease cost	$	3.4	$	10.3
Variable lease cost	0.1		0.2
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	3.7		11.0
ROU asset obtained in exchange for new operating lease liabilities	0.1		5.5

In determining the incremental borrowing rate, the Company considered the interest rate yield for the specific interest rate environment and the Company’s credit spread at the inception of the lease. For the nine months ended September 30, 2019, the weighted average remaining lease term was 4.47 years and the weighted average discount rate was 4.13%.

Maturities of operating lease liabilities were as follows (in millions):



	Operating Leases
Year Ending December 31,
2019 (excluding the nine months ended September 30, 2019)	$	3.6
2020	14.0
2021	13.0
2022	8.9
2023	3.5
Thereafter	7.0
Total lease payments	50.0
Less imputed interest	(4.7		)
Total	$	45.3