Leases

12 Months Ended

Dec. 31, 2020

6. Leases

Leases (in millions)	December 31, 2020		December 31, 2019
Assets
Operating lease right-of-use assets	$	276.0	$	386.0
Liabilities
Current
Current operating lease liabilities	$	114.2	$	120.8
Noncurrent
Operating lease liabilities		172.6		246.3
Total lease liabilities	$	286.8	$	367.1

Lease Cost (in millions)	Year Ended December 31, 2020		Year Ended December 31, 2019
Operating lease cost^(a)	$	160.9	$	168.0
Short-term cost^(b)	16.3		14.2
Variable lease cost^(b)	9.7		5.9
Total lease cost	$	186.9	$	188.1

(a)	Operating lease cost represent non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statement of consolidated cash flows.

(b)	These costs are classified and recorded within purchased transportation; fuel, operating expenses and supplies.

Remaining Maturities of Lease Liabilities	Operating Leases
2021	$	142.5
2022		95.0
2023		52.7
2024		22.9
2025		10.8
After 2025		26.9
Total lease payments	$	350.8
Less: Interest		64.0
Present value of lease liabilities	$	286.8

Lease Term and Discount Rate

(years and percent)

Weighted-Average Remaining Lease Term

Weighted-Average Discount Rate

Operating leases

3.3

12.1%

Other Information (in millions)	Year Ended December 31, 2020		Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	134.0	$	154.6
Leased assets obtained in exchange for new operating lease liabilities		13.5		129.7

For the year ended December 31, 2020, we entered into new operating lease commitments for revenue equipment totaling $0.6 million, with such payments to be made over the average lease term of 4 years with a capital equivalent of $0.7 million. As of December 31, 2020, our operating lease obligations for 2021 are $142.5 million and our operating lease obligations through 2031 total $350.8 million.