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LEASES | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | Note 10. Leases Adoption Effective January 1, 2019, the Company adopted the new lease accounting standard using the modified retrospective method of applying the new standard at the adoption date. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard. This allowed us to carry forward the historical lease classification. Adoption of this standard resulted in the recording of net operating lease right-of-use (ROU) assets and corresponding operating lease liabilities of $0.7 billion. Financial position for reporting periods beginning on or after January 1, 2019 are presented under the new guidance, while prior periods amounts are not adjusted and continue to be reported in accordance with previous guidance. A significant portion of our operating and finance lease portfolio includes corporate offices, research and development facilities, manufacturing sites, information technology (IT) equipment, and automobiles. The majority of our leases have remaining lease terms of 1 year to 20 years, some of which include options to extend the leases for 5 years or more. Operating lease ROU assets are presented within Other assets. The current portion of operating lease liabilities are presented within Accrued liabilities, and the non-current portion of operating lease liabilities are presented within Other liabilities on the Consolidated Balance Sheet. Finance lease assets are included in Property, plant and equipment - net, and the finance lease obligations are included in Current maturities of long-term debt, and in Long-term debt on the Consolidated Balance Sheet. A portion of our real estate leases is generally subject to annual changes in the Consumer Price Index (CPI). The changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. In addition, a subset of our automobile leases is considered variable. The variable lease payments for such automobiles leases are based on actual mileage incurred at the stated contractual rate and recognized in the period in which the obligation for those payments was incurred.
| Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Operating lease cost | $ | 62 |  |  | $ | 172 |
Variable lease cost | 3 |  |  | 17 |
Short-term lease cost | 3 |  |  | 9 |
Financing lease cost: |  |  |
Amortization of right-of-use assets | 15 |  |  | 43 |
Interest on lease liability | 8 |  |  | 23 |
Total financing lease cost | 23 |  |  | 66 |
Total lease cost | $ | 91 |  |  | $ | 264 |
Supplemental cash flow information related to leases was as follows:
| Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 65 |  |  | $ | 174 |
Operating cash flows from finance leases | 8 |  |  | 23 |
Financing cash flows from finance leases | 14 |  |  | 40 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases | $ | 92 |  |  | $ | 118 |
Finance leases | 9 |  |  | 17 |
Supplemental balance sheet information related to leases was as follows:
| September 30, 2019
Operating leases |
Other assets | $ | 677 |
Accrued liabilities | 176 |
Other liabilities | 535 |
Total operating lease liabilities | $ | 711 |
Financing leases |
Property, plant and equipment | $ | 321 |
Accumulated depreciation | (125 | )
Property, plant and equipment - net | $ | 196 |
Current maturities of long-term debt | 50 |
Long-term debt | 150 |
Total financing lease liabilities | $ | 200 |
Weighted-average remaining lease term |
Operating leases | 6 years |
Financing leases | 4 years |
Weighted-average discount rate |
Operating leases | 3.3 | %
Financing leases | 17.2 | %
As of September 30, 2019, maturities of lease liabilities were as follows:
| Operating Leases | Financing Leases
2019 | $ | 55 |  | $ | 21 |
2020 | 186 |  | 75 |
2021 | 154 |  | 63 |
2022 | 122 |  | 47 |
2023 | 92 |  | 39 |
Thereafter | 184 |  | 49 |
Total lease payments | 793 |  | 294 |
Less: interest | (82 | ) | (94 | )
Total | $ | 711 |  | $ | 200 |
As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, future minimum lease payments for operating leases having initial or remaining noncancellable lease terms in excess of one year would have been as follows:
| At December 31, 2018
2019 | $ | 210 |
2020 | 168 |
2021 | 142 |
2022 | 109 |
2023 | 80 |
Thereafter | 147 |
| $ | 856 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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