Lease Commitments (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease Cost Components

The following table provides supplemental cash flow information related to leases for the three and nine months ended September 30, 2019.

Table 54: Supplemental Cash Flow Information

	Three Months Ended		Nine Months Ended
(In Millions)	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	22.0	$	72.3
Right-of-use assets obtained in exchange for new operating lease liabilities	57.6		60.8

The components of lease costs were as follows:

Table 50: Lease Cost Components

	Three Months Ended			Nine Months Ended
(In Millions)	September 30, 2019
Operating Lease Cost	$	25.1		$	74.5
Variable Lease Cost	9.4			28.9
Sublease Income	(1.4		)	(4.4		)
Total Lease Cost	$	33.1		$	99.0

Maturity of Lease Liability

The following table presents a maturity analysis of lease liabilities as of September 30, 2019.

Table 51: Maturity of Lease Liabilities

(In Millions)	Maturity of Lease Liabilities
2019 (excluding the nine months ended September 30, 2019)	$	26.9
2020	97.7
2021	83.6
2022	73.9
2023	64.0
Later Years	283.9
Total Lease Payments	630.0
Less: Imputed Interest	(77.6		)
Present Value of Lease Liabilities	$	552.4

Leases

The location and amount of lease right-of-use assets and lease liabilities recorded in the consolidated balance sheets as of September 30, 2019 are presented below.

Table 52: Location and Amount of Lease Assets and Liabilities

(In Millions)	Location of Lease Assets and Liabilities in the Balance Sheet	September 30, 2019
Assets
Operating Lease Right-of-Use Asset	Other Assets	$	466.5
Liabilities
Operating Lease Liability	Other Liabilities	$	552.4

The weighted-average remaining lease term and weighted-average discount rate applied to leases as of September 30, 2019 were as follows:

Table 53: Weighted-Average Remaining Lease Term and Discount Rate

	September 30, 2019
Operating Leases
Weighted-Average Remaining Lease Term	8.6 years
Weighted-Average Discount Rate	3.2%

Minimum Annual Lease Commitments

Therefore, disclosure with respect to minimum annual lease commitments as of December 31, 2018, for all non-cancelable operating leases with a term of one year or more is provided in the table below, as required by ASC Topic 840.

Table 55: Minimum Lease Payments as of December 31, 2018

(In Millions)	Future Minimum Lease Payments
2019	$	98.8
2020	97.8
2021	85.9
2022	77.2
2023	67.7
Later Years	335.7
Total Minimum Lease Payments	763.1
Less: Sublease Rentals	(23.4		)
Net Minimum Lease Payments	$	739.7