Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Schedule of Lease Terms and Discount Rates

The following table presents lease terms and discount rates as of June 30, 2021:

	Finance Leases			Operating Leases
Weighted-average lease term (in years)		24.7			7.3
Weighted-average discount rate		3.5	%		4.1	%

Schedule of Lease Assets and Lease Liabilities

The following table summarizes the classification of lease assets and lease liabilities on our Consolidated Balance Sheets (in millions of dollars):

Leases	Classification	As of June 30, 2021		As of December 31, 2020
Assets
Operating lease assets	Operating lease assets	$	39.5	$	26.5
Finance lease assets	Property, plant and equipment, net		8.9		8.1
Total lease assets		$	48.4	$	34.6
Liabilities
Current:
Operating lease liabilities	Other accrued liabilities	$	8.4	$	4.4
Finance lease liabilities	Other accrued liabilities		2.0		1.9
Non-current:
Operating lease liabilities	Long-term portion of operating lease liabilities		34.4		25.6
Finance lease liabilities	Long-term liabilities		6.9		6.2
Total lease liabilities		$	51.7	$	38.1

Components of Lease Cost

The following table summarizes the components of lease cost on our Statements of Consolidated (Loss) Income (in millions of dollars):

	Quarter Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Operating lease cost	$	2.9	$	1.8	$	4.9	$	3.6
Short-term lease cost		0.8		0.3		1.0		0.6
Finance lease cost:
Amortization of leased assets		0.5		0.3		1.0		0.7
Interest on lease liabilities		0.1		0.1		0.2		0.2
Total lease cost	$	4.3	$	2.5	$	7.1	$	5.1

Schedule of Maturity of Our Lease Liabilities

The following table presents the maturity of our lease liabilities as of June 30, 2021 (in millions of dollars):

Maturity of Lease Liabilities	Finance Leases			Operating Leases
Remainder of 2021	$	2.3		$	5.1
2022		2.0			9.5
2023		1.6			8.0
2024		1.2			7.2
2025		0.8			4.0
Thereafter		6.1			17.5
Total minimum lease payments	$	14.0		$	51.3
Less: interest		(5.1	)		(8.5	)
Present value	$	8.9		$	42.8