Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Components of Lease Cost

Operating lease cost was $16.6 million for the year ended December 31, 2019.  The components of lease costs are as follows:

(millions of dollars)	Year Ended December 31,
	2019
Operating lease cost	$	15.5
Short-term lease cost		1.1
Total	$	16.6

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)	December 31, 2019
Operating cash flows information:
Cash paid for amounts included in the measurement of lease liabilities	$	16.2
Non-cash activity:
Right-of-use assets obtained in the exchange for operating lease liabilities	$	7.3

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)	7.57
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 Consolidated Balance Sheet:

(millions of dollars)	Balance Sheet Classification	December 31, 2019
Right-of-use asset	Other assets and deferred charges	$	44.8
Lease liability - current	Other current liabilities		11.9
Lease liability - non-current	Other non-current liabilities		43.3

Future Minimum Lease Payments

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

(millions of dollars)	December 31, 2019
2020	$	14.3
2021		10.8
2021		8.5
2023		6.6
2024		5.2
Thereafter		21.4
Total future minimum lease payments		66.8
Less imputed interest		(11.6	)
Total	$	55.2

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)	December 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)	December 31, 2018		December 31, 2017
Rent expense	$	19.5	$	19.3