Leases (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2019			For the Six Months Ended June 30, 2019
	(in millions)
Operating lease cost	$	56		$	115

Finance lease cost:
Amortization of right-of-use assets	6			10
Interest on lease liabilities	—			1

Short-term lease cost	11			20
Variable lease cost	105			205

Sublease income	(1		)	(2		)

Total lease cost	$	177		$	349

Supplemental cash flow information related to leases was as follows:



	For the Six Months Ended June 30, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(135	)
Operating cash flows from finance leases	(1		)
Financing cash flows from finance leases	(9		)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	78
Finance leases	17

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:



	As of June 30, 2019
	(in millions)
Operating Leases:
Operating lease right-of-use assets, net of amortization	$	637

Other current liabilities	$	197
Operating lease liabilities	447
Total operating lease liabilities	$	644

Finance Leases:
Finance leases, net of amortization (within property, plant & equipment)	$	58

Other current liabilities	$	21
Other long-term liabilities	40
Total finance lease liabilities	$	61

Weighted Average Remaining Lease Term
Operating leases	5.0 years
Finance leases	3.1 years

Weighted Average Discount Rate
Operating leases	3.5%
Finance leases	4.8%

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 June 30, 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 six months ended June 30, 2019)	$	113		$	13
2019							$	208
2020	193			23			165
2021	137			18			114
2022	96			7			79
2023	63			2			57
Thereafter	120			1			157
Total future undiscounted lease payments	$	722		$	64		$	780
Less imputed interest	(78		)	(3		)
Total reported lease liability	$	644		$	61

Schedule of Future Lease Payments Under Non-cancelable Finance Leases



	As of June 30, 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 six months ended June 30, 2019)	$	113		$	13
2019							$	208
2020	193			23			165
2021	137			18			114
2022	96			7			79
2023	63			2			57
Thereafter	120			1			157
Total future undiscounted lease payments	$	722		$	64		$	780
Less imputed interest	(78		)	(3		)
Total reported lease liability	$	644		$	61