Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Schedule of Leases Supplemental Balance Sheet

Supplemental balance sheet information related to leases was as follows:

(dollars in millions)

	March 31, 2020			December 31, 2019
Liabilities
Short term: Accrued liabilities	$	11.5		$	12.0
Long term: Operating lease liabilities		37.3			38.7
Total operating lease liabilities	$	48.8		$	50.7
Less: Rent incentives and deferrals		(3.9	)		(3.8	)
Assets
Operating lease assets	$	44.9		$	46.9

Lease Term and Discount Rate	March 31, 2020
Weighted-average remaining lease term		10 years
Weighted-average discount rate		3.95%

Schedule of Components of Lease Expense

The components of lease expense were as follows:

(dollars in millions)
		Three months ended March 31,
Lease Expense	Classification	2020(1)		2019(2)
Operating lease expense	Cost of products sold	$	0.7	$	0.7
	Selling, general and administrative expenses		4.0		4.9

(1) 2020 includes short-term and variable lease expenses of $0.4 million and $0.4 million, respectively.

(2) 2019 includes short-term and variable lease expenses of $0.4 million and $0.8 million, respectively.

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities were as follows:

(dollars in millions)
	March 31, 2020
2020	$	10.2
2021		10.7
2022		9.2
2023		4.9
2024		3.8
After 2024		22.7
Total lease payments		61.5
Less: imputed interest		(12.7	)
Present value of operating lease liabilities	$	48.8