Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease Cost Components

The following table provides supplemental cash flow information related to leases for the year ended December 31, 2019.

TABLE 91: SUPPLEMENTAL CASH FLOW INFORMATION

(In Millions)	DECEMBER 31, 2019
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows	$	101.2
Supplemental non-cash information
Right-of-use assets obtained in exchange for new operating lease liabilities	$	108.3

The components of lease costs for the year ended December 31, 2019 were as follows.

TABLE 87: LEASE COST COMPONENTS

(In Millions)	DECEMBER 31, 2019
Operating Lease Cost	$	102.2
Variable Lease Cost	38.7
Sublease Income	(6.6		)
Total Lease Cost	$	134.3

Maturity of Lease Liability

The following table presents a maturity analysis of lease liabilities as of December 31, 2019.

TABLE 88: MATURITY OF LEASE LIABILITIES

(In Millions)	MATURITY OF LEASE LIABILITIES
2020	$	101.3
2021	85.8
2022	78.5
2023	70.5
2024	59.6
Later Years	300.0
Total Lease Payments	695.7
Less: Imputed Interest	(92.6		)
Present Value of Lease Liabilities	$	603.1

Leases

The location and amount of ROU assets and lease liabilities recorded in the consolidated balance sheets as of December 31, 2019 are presented in the following table.

TABLE 89: LOCATION AND AMOUNT OF LEASE ASSETS AND LIABILITIES

(In Millions)	LOCATION OF LEASE ASSETS AND LEASE LIABILITIES ON THE BALANCE SHEET	DECEMBER 31, 2019
Assets
Operating Lease Right-of-Use Asset	Other Assets	$	491.6
Liabilities
Operating Lease Liability	Other Liabilities	$	603.1

The weighted-average remaining lease term and weighted-average discount rate applied to leases as of December 31, 2019 were as follows:

TABLE 90: WEIGHTED-AVERAGE REMAINING LEASE TERM AND DISCOUNT RATE

	DECEMBER 31, 2019
Operating Leases
Weighted-Average Remaining Lease Term	9.2 years
Weighted-Average Discount Rate	3.0	%

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 92: MINIMUM LEASE PAYMENTS

(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