Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Cost

Lease expenses are primarily included in insurance expenses in the Condensed Consolidated Statement of Income. Additional information regarding the Company’s operating leases is presented below.

(Dollars in Millions)	Six Months Ended Jun 30, 2019
Lease Cost:
Amortization of Right-of-Use Assets	$	0.3
Operating Lease Cost	11.2
Short-Term Lease Cost (1)	0.1
Total Expense	11.6
Less: Sublease Income (2)	(0.1		)
Total Lease Cost	$	11.5

(1) - Leases with an initial term of twelve months or less are not recorded on the balance sheet.

(2) - Sublease income consists of rent from third parties of office space and is recognized as part of other income in the Condensed Consolidated Statements of Income.

Note 6 - Leases (continued)

Other Information on Operating Leases

Supplemental cash flow information related to the Company’s operating leases for the six months ended June 30, 2019 is as follows:

(Dollars in Millions)	Six Months Ended Jun 30, 2019
Operating Cash Flows from Operating Lease (Fixed Payments)	$	10.6
Operating Cash Flows from Operating Lease (Liability Reduction)	9.3
Financing Cash Flows from Finance Leases	0.3
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	9.5

Significant judgments and assumptions for determining lease asset and liability at June 30, 2019 are presented below.

Weighted-average Remaining Lease Term - Finance Leases	1.8 years
Weighted-average Remaining Lease Term - Operating Leases	6.7 years
Weighted-average Discount Rate - Finance Leases	4.0	%
Weighted-average Discount Rate - Operating Leases	4.1	%

Schedule of Future Minimum Lease Payments for Capital and Operating Leases

Future minimum lease payments under capital and operating leases at December 31, 2018 are presented below.

(Dollars in Millions)	Capital Leases		Operating Leases
2019	$	0.7	$	20.5
2020	0.7		18.4
2021	0.3		16.9
2022	0.2		15.0
2023	—		12.5
2024 and Thereafter	—		27.1
Total Future Payments	$	1.9	$	110.4
Less Imputed Interest	—
Present Value of Minimum Capital Lease Payments	$	1.9