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v3.19.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2019
Leases |
Schedule of components of lease expense |
|  | Three months ended |
(Millions) |  | March 31, 2019 |
Operating lease cost |  | $ | 72 |
Finance lease cost: |  |  |  |
Amortization of assets |  |  | 4 |
Interest on lease liabilities |  |  | — |
Variable lease cost |  |  | 20 |
Total net lease cost |  | $ | 96 |
Schedule of supplemental balance sheet information |
|  | Location on Face of |  | As of: |
(Millions unless noted) |  | Balance Sheet |  | March 31, 2019 |
Operating leases: |  |  |  |  |  |
Operating lease right of use assets |  | Operating lease right of use assets |  | $ | 797 |
Current operating lease liabilities |  | Operating lease liabilities - current |  | $ | 255 |
Noncurrent operating lease liabilities |  | Operating lease liabilities |  |  | 531 |
Total operating lease liabilities |  |  |  | $ | 786 |
Finance leases: |  |  |  |  |  |
Property and equipment, at cost |  | Property, plant and equipment |  | $ | 191 |
Accumulated amortization |  | Property, plant and equipment (accumulated depreciation) |  |  | (89) |
Property and equipment, net |  |  |  | $ | 102 |
Current obligations of finance leases |  | Other current liabilities |  | $ | 16 |
Finance leases, net of current obligations |  | Other liabilities |  |  | 84 |
Total finance lease liabilities |  |  |  | $ | 100 |
Weighted average remaining lease term (in years): |  |  |  |  |  |
Operating leases |  |  |  |  | 4.7 |
Finance leases |  |  |  |  | 8.5 |
Weighted average discount rate: |  |  |  |  |  |
Operating leases |  |  |  |  | 3.0 | %
Finance leases |  |  |  |  | 4.9 | %
Schedule of supplemental cash flow and other information |
|  | Three months ended |
(Millions) |  | March 31, 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 75 |
Operating cash flows from finance leases |  |  | 3 |
Financing cash flows from finance leases |  |  | — |
Right of use assets obtained in exchange for lease liabilities: |  |  |  |
Operating leases |  |  | 48 |
Finance leases |  |  | 9 |
Gain on sale leaseback transactions, net |  |  | — |
Schedule of maturities of operating lease liabilities |
|  | March 31, 2019 |
(Millions) |  | Finance Leases |  | Operating Leases |
Remainder of 2019 |  | $ | 17 |  | $ | 209 |
2020 |  |  | 15 |  |  | 211 |
2021 |  |  | 11 |  |  | 137 |
2022 |  |  | 11 |  |  | 100 |
2023 |  |  | 11 |  |  | 71 |
After 2023 |  |  | 40 |  |  | 121 |
Total |  | $ | 105 |  | $ | 849 |
Less: Amounts representing interest |  |  | (5) |  |  | (63) |
Present value of future minimum lease payments |  |  | 100 |  |  | 786 |
Less: Current obligations |  |  | 16 |  |  | 255 |
Long-term obligations |  | $ | 84 |  | $ | 531 |
Schedule of maturities of finance lease liabilities |
|  | March 31, 2019 |
(Millions) |  | Finance Leases |  | Operating Leases |
Remainder of 2019 |  | $ | 17 |  | $ | 209 |
2020 |  |  | 15 |  |  | 211 |
2021 |  |  | 11 |  |  | 137 |
2022 |  |  | 11 |  |  | 100 |
2023 |  |  | 11 |  |  | 71 |
After 2023 |  |  | 40 |  |  | 121 |
Total |  | $ | 105 |  | $ | 849 |
Less: Amounts representing interest |  |  | (5) |  |  | (63) |
Present value of future minimum lease payments |  |  | 100 |  |  | 786 |
Less: Current obligations |  |  | 16 |  |  | 255 |
Long-term obligations |  | $ | 84 |  | $ | 531 |
Minimum lease payments under capital and operating leases with non-cancelable terms in excess of one year | Minimum lease payments under capital and operating leases with non-cancelable terms in excess of one year as of December 31, 2018, were as follows:
|  |  |  |  | Operating |
(Millions) |  | Capital Leases |  | Leases |
2019 |  | $ | 18 |  | $ | 283 |
2020 |  |  | 16 |  |  | 208 |
2021 |  |  | 14 |  |  | 153 |
2022 |  |  | 12 |  |  | 122 |
2023 |  |  | 12 |  |  | 92 |
After 2023 |  |  | 32 |  |  | 253 |
Total |  | $ | 104 |  | $ | 1,111 |
Less: Amounts representing interest |  |  | 12 |  |  |  |
Present value of future minimum lease payments |  |  | 92 |  |  |  |
Less: Current obligations under capital leases |  |  | 17 |  |  |  |
Long-term obligations under capital leases |  | $ | 75 |  |  |  |

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- Definition Disclosure of future minimum capital and operating lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References No definition available. + Details
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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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