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SEC Filings

10-Q
WORLDPAY, INC. filed this Form 10-Q on 05/03/2019
Entire Document
 
Worldpay, Inc.
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)

The table below presents the costs associated with the leased assets (in millions):
Leases
 
Classification
 
Three Months Ended March 31, 2019
Operating lease cost:
 
General and administrative and Other operating costs
 
 
  Short-term
 
 
 
$
0.8

  Long-term
 
 
 
9.3

Finance lease cost:
 
 
 
 
  Amortization of leased assets
 
Depreciation and amortization
 
3.6

  Interest on lease liabilities
 
Interest expense-net
 
0.6

Total lease cost
 
 
 
$
14.3


    
The future minimum lease payments required under all leases and the present value of net minimum lease payments as of March 31, 2019 are as follows (in millions):
Maturity of Lease Liabilities
 
Operating
 
Finance
Nine months ended December 31, 2019
 
$
18.3

 
$
20.0

2020
 
23.2

 
17.3

2021
 
19.7

 
12.7

2022
 
17.4

 
5.3

2023
 
15.0

 

Thereafter
 
69.8

 

Total
 
$
163.4

 
$
55.3

Less: Interest
 
26.5

 
3.7

Present value of lease liabilities
 
$
136.9

 
$
51.6



The future minimum lease payments required under operating leases as of December 31, 2018 are as follows (in millions):
Year Ended December 31,
 
2019
$
27.8

2020
23.2

2021
21.7

2022
19.0

2023
15.6

Thereafter
71.2

Total
$
178.5



The table below summarizes the weighted average remaining lease term and weighted average discount rate used by lease type:
Lease Term and Discount Rate
 
March 31, 2019
Weighted-average remaining lease term (years):
 
 
  Operating leases
 
9.0

  Finance leases
 
2.6

Weighted-average discount rate:
 
 
  Operating leases
 
3.9
%
  Finance leases
 
4.9
%



20