Leases

12 Months Ended

Dec. 31, 2019

LeasesWe lease certain buildings and equipment under various noncancellable operating lease agreements. In addition, we have sub-lease agreements on a limited number of our building lease agreements. The majority of our building leases and sub-leases expire within a five to ten year period and we generally have the option to renew at the end of the lease term for an additional five to ten year period at the fair rental value at the time of renewal. The majority of our equipment leases expire within a one to

three year period and we generally have the option to renew at the end of the lease term for an additional one to three year period at the fair rental value at the time of renewal.

We do not have any lease agreements or sub-lease agreements that contain variable lease payments. In addition, we do not have lease agreements or sub-lease agreements that contain residual value guarantees or impose any restrictions or covenants with the lessors.

Operating lease information is as follows:


	Year Ended December 31, 2019
	(in millions of dollars)
Lease Cost
Operating Lease Cost	$	29.4
Sublease Income	(1.9)
Total Lease Cost	$	27.5

Other Information
Cash Paid for Amounts Included in the Measurement of Lease Liabilities	$	28.9
Weighted-Average Remaining Lease Term	7 years
Weighted-Average Discount Rate	4.60		%

Operating lease cost as calculated prior to the adoption of ASC 842 was $29.2 million and $27.5 million for the years ended December 31, 2018 and 2017, respectively.

As of December 31, 2019, aggregate undiscounted minimum net lease payments and the reconciliation to our lease liability are as follows:


2020	$	26.6
2021	23.1
2022	19.9
2023	14.1
2024	10.9
2025 and Thereafter	40.6
Total	135.2
Less Imputed Interest	20.5
Lease Liability	$	114.7

As of December 31, 2019, the right-of-use asset was $108.6 million.