Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Cost

Operating lease cost was $15.3 million and $16.6 million for the years ended December 31, 2020 and December 31, 2019, respectively. The components of lease costs are as follows:

	December 31,
(millions of dollars)	2020			2019
Operating lease cost		$	15.2		$	15.5
Short-term lease cost			0.1			1.1
Total		$	15.3		$	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 leases are as follows:

(millions of dollars)	December 31, 2020
Operating cash flows information:
Cash paid for amounts included in the measurement of lease liabilities	$	15.7
Non-cash activity:
Right-of-use assets obtained in the exchange for operating lease liabilities	$	18.1

Weighted Average Remaining Lease Term and Discount Rates

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

Weighted-average remaining operating lease term (in years)	7.71
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:

		December 31,
(millions of dollars)	Balance Sheet Classification	2020		2019
Right-of-use-asset	Other assets and deferred charges	$	50.9	$	44.8
Lease liability - current	Other current liabilities		11.7		11.9
Lease liability - non-current	Other non-current liabilities		49.2		43.3

Future Minimum Lease Payments

Future minimum lease payments under the Company's leases as of December 31, 2020 were as follows:

(millions of dollars)	December 31, 2020
2021	$	14.4
2022		12.1
2023		9.5
2024		7.6
2025		6.4
Thereafter		24.0
Total future minimum lease payments		74.0
Less imputed interest		(13.1	)
Total	$	60.9

Summary of Rent Expense

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

(millions of dollars)	December 31, 2018
Rent expense	$	19.5