Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

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 14 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.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease cost	$	4.1	$	3.5	$	7.9	$	6.9
Variable lease cost	0.1		0.1		0.2		0.2
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	3.8		3.7		7.5		7.3
ROU asset obtained in exchange for new operating lease liabilities	6.4		0.3		77.1		5.4

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 six months ended June 30, 2020 and 2019, the weighted average remaining lease term was 11.8 years and 5 years respectively, and the weighted average discount rate was 3.47% and 4.11%, respectively.

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

	Operating Leases
Year Ending December 31,
2020 (excluding the six months ended June 30, 2020)	$	7.3
2021	14.4
2022	10.4
2023	12.2
2024	11.0
Thereafter	98.8
Total lease payments	154.1
Less imputed interest	(29.2)
Total	$	124.9