Leases

3 Months Ended

Mar. 31, 2022

4. Leases


Leases (in millions)	March 31, 2022		December 31, 2021
Assets
Operating lease right-of-use assets	$	164.9	$	184.8
Liabilities
Current operating lease liabilities	$	70.6	$	76.5
Noncurrent operating lease liabilities		103.5		118.9
Total lease liabilities	$	174.1	$	195.4


Lease Cost (in millions)	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Operating lease cost(a)	$	27.2	$	36.9
Short-term cost(b)		4.9		9.6
Variable lease cost(b)	4.7		2.5
Total lease cost	$	36.8	$	49.0

(a)

Operating lease cost represents non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statements of consolidated cash flows.

(b)

These operating expenses are classified and recorded primarily within purchased transportation.

The maturities over the next five years and thereafter of lease liabilities as of March 31, 2022 are as follows:


Remaining Maturities of Lease Liabilities (in millions)	Operating Leases
2022 - remaining portion	$	68.5
2023		58.4
2024		28.8
2025		16.5
2026		12.7
After 2026		40.7
Total lease payments	$	225.6
Less: Imputed interest		51.5
Present value of lease liabilities	$	174.1


Lease Term and Discount Rate	2022			2021
Weighted-average remaining lease term - operating leases (years)		4.1			3.2
Weighted-average discount rate - operating leases		11.4	%		12.0	%


	Three Months
Other Information (in millions)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	28.5	$	37.2
Leased assets obtained in exchange for new operating lease liabilities		0.9		0.6