Leases

3 Months Ended

Mar. 31, 2020

Leases

Leases

Note 7.  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 our insignificant finance leases is not included as it is not meaningful to an understanding of our lease obligations.  

The following is a summary of our lease cost:

	Three Months Ended
	March 31,
	2020		2019
	(in millions)
Operating lease cost	$	21.1	$	20.8

Supplemental cash flow and balance sheet information is presented below:

	Three Months Ended
	March 31,
	2020		2019
	(in millions)
Supplemental cash flow information
Cash payments for operating leases	$	21.2	$	20.2
Right-of-use assets obtained in exchange for operating lease obligations	$	14.5	$	11.7
	March 31,		December 31,
	2020		2019
Other lease information
Weighted average remaining lease term—operating leases		5.5 years		5.6 years
Weighted average discount rate—operating leases		4.2%		4.3%

Maturities of operating lease liabilities as of March 31, 2020 are as follows:

	(in millions)
2020 (remaining nine months)	$	45.1
2021		50.4
2022		39.0
2023		30.0
2024		23.1
Thereafter		41.9
Total operating lease payments		229.5
Less: imputed interest		(27.4)
Total operating lease liabilities	$	202.1