Leases

12 Months Ended

Dec. 31, 2019

Leases

Leases

Note 10. Leases

Our metals service center leases are comprised of processing and distribution facilities, equipment, trucks and trailers, ground leases and other leased spaces, such as depots, sales offices, storage and data centers. We also lease various office buildings, including our corporate headquarters in Los Angeles, California. Our leases of facilities and other spaces expire at various times through 2031 and our ground leases expire at various times through 2068. Nearly all of our leases are operating leases. Information regarding the insignificant amount of finance leases we have is not meaningful to an understanding of our lease obligations.  

The following is a summary of our lease cost:

	Year Ended December 31,
	2019		2018		2017
	(in millions)
Operating lease cost	$	84.4	$	82.7	$	77.9

Our operating lease costs include payments to various related parties that are not executive officers of the Company, in the amounts of $2.5 million, $4.1 million and $3.4 million in 2019, 2018 and 2017, respectively. These related party leases are for buildings leased to certain of the companies we have acquired and expire in various years through 2023.

Supplemental cash flow and balance sheet information is presented below:

	Year Ended
	December 31, 2019
	(in millions)
Supplemental cash flow information
Cash payments for operating leases	$	84.6
Right-of-use assets obtained in exchange for operating lease obligations		71.1
	December 31,
	2019
Other lease information
Weighted average remaining lease term—operating leases		5.6 years
Weighted average discount rate—operating leases		4.3%

Maturities of operating lease liabilities as of December 31, 2019 are as follows:

	(in millions)
2020	$	59.6
2021		47.8
2022		35.9
2023		27.5
2024		20.7
Thereafter		39.6
Total operating lease payments		231.1
Less: imputed interest		(29.1)
Total operating lease liabilities	$	202.0

As previously presented in our consolidated financial statements for the year ended December 31, 2018, included in our Annual Report on Form 10-K, future minimum payments under previous lease accounting guidance for non-cancelable operating leases were as follows:

	(in millions)
2019	$	59.5
2020		45.5
2021		32.9
2022		22.7
2023		16.2
Thereafter		40.7
Total operating lease payments	$	217.5