Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Components of Lease Costs and Supplemental Cash Flow Information

The components of lease costs were as follows:



	For the Three Months Ended March 31, 2019
	(in millions)
Operating lease cost	$	59

Finance lease cost:
Amortization of right-of-use assets	4
Interest on lease liabilities	1

Short-term lease cost	9
Variable lease cost	100
Sublease income	(1		)

Total lease cost	$	172

Supplemental cash flow information related to leases was as follows:



	For the Three Months Ended March 31, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(72	)
Operating cash flows from finance leases	—
Financing cash flows from finance leases	(3		)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	26
Finance leases	7

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:



	As of March 31, 2019
	(in millions)
Operating Leases:
Operating lease right-of-use assets, net of amortization	$	636

Other current liabilities	$	179
Operating lease liabilities	470
Total operating lease liabilities	$	649

Finance Leases:
Finance leases, net of amortization (within property, plant & equipment)	$	53

Other current liabilities	$	18
Other long-term liabilities	37
Total finance lease liabilities	$	55

Weighted Average Remaining Lease Term
Operating leases	5.4 years
Finance leases	2.9 years

Weighted Average Discount Rate
Operating leases	3.6%
Finance leases	5.2%

Schedule of Future Lease Payments Under Non-cancelable Operating Leases

Future lease payments under non-cancelable leases under prior lease accounting rules (ASC 840) and under the new lease accounting rules (ASC 842) that went into effect on January 1, 2019 were as follows:



	As of March 31, 2019						As of December 31, 2018
	ASC 842						ASC 840
	Operating Leases			Finance Leases			Operating Leases
	(in millions)
Year Ending December 31:
2019 (excluding the three months ended March 31, 2019)	$	159		$	16
2019							$	208
2020	179			21			165
2021	125			14			114
2022	88			5			79
2023	65			2			57
Thereafter	118			—			157
Total future undiscounted lease payments	$	734		$	58		$	780
Less imputed interest	(85		)	(3		)
Total reported lease liability	$	649		$	55

Schedule of Future Lease Payments Under Non-cancelable Finance Leases



	As of March 31, 2019						As of December 31, 2018
	ASC 842						ASC 840
	Operating Leases			Finance Leases			Operating Leases
	(in millions)
Year Ending December 31:
2019 (excluding the three months ended March 31, 2019)	$	159		$	16
2019							$	208
2020	179			21			165
2021	125			14			114
2022	88			5			79
2023	65			2			57
Thereafter	118			—			157
Total future undiscounted lease payments	$	734		$	58		$	780
Less imputed interest	(85		)	(3		)
Total reported lease liability	$	649		$	55