Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Components of Lease Cost

Operating lease cost for the quarter ended March 31, 2019 was $4.1 million.  Components of lease cost of are as follows:

(millions of dollars)	Mar. 31, 2019
Operating lease cost	$	4.0
Short-term lease cost	$	0.1

Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases

Supplemental cash flow information and non-cash activity related to our operating leases are as follows:

(millions of dollars)	Mar. 31, 2019
Operating cash flows information:
Cash paid for amounts included in the measurement of lease liabilities	$	4.0
Non-cash activity:
Right-of-use assets obtained in the exchange for operating lease liabilities	$	0.2

Weighted Average Remaining Lease Term and Discount Rates

Weighted average remaining lease term, and weighted average discount rates related to the Company’s operating leases were as follows:

Weighted-average remaining operating lease term (in years)	7.87
Weighted-average operating leases discount rate	5.0%

Outstanding Lease Assets and Liabilities

The following table summarizes the Company's outstanding lease assets and liabilities and their classification on the Condensed Consolidated Balance Sheet:

(millions of dollars)	Balance Sheet Classification	Mar. 31, 2019
Right-of-use asset	Other assets and deferred charges	$	47.4
Lease liability - current	Other current liabilities		12.3
Lease liability - non-current	Other non-current liabilities		46.1

Future Minimum Lease Payments

Future minimum lease payments under the Company's operating leases as of March 31, 2019 were as follows:

(millions of dollars)	Mar. 31, 2019
For the remainder of 2019	$	11.5
2020		12.3
2021		9.0
2022		7.2
2023		5.9
Thereafter		25.3
Total future minimum lease payments		71.2
Less imputed interest		(13.0	)
Total	$	58.2

Minimum Lease Payments under Non-cancellable Operating Lease

As of December 31, 2018, minimum lease payments under non-cancellable operating leases were expected to be as follows:

(millions of dollars)	Dec. 31, 2018
2019	$	17.3
2020		13.0
2021		9.5
2022		8.2
2023		7.0
Thereafter		24.8
Total	$	79.8

Summary of Rent Expense

A summary of rent expense for the fiscal years ended December 31, 2018 and December 31, 2017 was as follows:

(millions of dollars)	Dec. 31, 2018		Dec. 31, 2017
Rent expense	$	19.5	$	19.3