v3.20.2
LEASES (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Components of lease expense
The components of lease expense were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(US$ in millions)2020201920202019
Operating lease cost$72 $97 $203 $257 
Short-term lease cost161 270 452 571 
Variable lease cost2 9 8 17 
Sublease income(23)(30)(51)(80)
Total lease cost$212 $346 $612 $765 
Supplemental cash flow information related to leases Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(US$ in millions)20202019
Cash paid for amounts included in the measurement of lease liabilities:
       Operating lease liability principal payments$202 $252 
Supplemental non-cash information:
       Right-of-use assets obtained in exchange for new lease obligations$265 $229 
Maturities of lease liabilities Maturities of lease liabilities for operating leases as of September 30, 2020, are as follows:
(US$ in millions)
Remaining in 2020$72 
2021248 
2022194 
2023146 
202490 
Thereafter173 
Total lease payments (1)
923 
Less imputed interest(99)
Present value of lease liabilities824 
Less present value of lease liabilities held for sale (7)
Present value of lease liabilities, as separately presented on the condensed consolidated balance sheet$817 

(1)     Minimum lease payments have not been reduced by minimum sublease income receipts of $21 million due in future periods under non-cancelable subleases as of September 30, 2020. Non-cancelable subleases primarily relate to agreements with third parties for the use of portions of certain facilities with remaining sublease terms of approximately five years, as well as an agreement in which the Company subleases rail cars with remaining sublease
terms of approximately two years. Additionally, from time to time the Company may enter into re-let agreements to sell the right to use ocean freight vessels under time charter agreements when excess capacity is available.