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Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Lease Related Assets and Liabilities

Operating lease amounts included on the Consolidated Balance Sheets are as follows:


		December 31,
		2020		2019
		($ in millions)
	Classification
Assets
ROU assets	Other assets	$	433	$	539

Liabilities
Current lease liabilities	Other current liabilities	$	89	$	97
Non-current lease liabilities	Other liabilities	344		441

Total lease liabilities		$	433	$	538

Lease, Cost

The components of total lease expense, primarily included in “Purchased services and rents,” are as follows:


	2020		2019
	($ in millions)

Operating lease expense	$	109	$	114
Variable lease expense	42		57
Short-term lease expense	9		5

Total lease expense	$	160	$	176

Other information related to operating leases is as follows:


	December 31,
	2020		2019

Weighted-average remaining lease term (years) on operating leases	8.18		8.25

Weighted-average discount rates on operating leases	3.50	%	3.52	%

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under non-cancellable operating leases are as follows:


	December 31, 2020
	($ in millions)

2021	$	101
2022	76
2023	67
2024	58
2025	57
2026 and subsequent years	145
Total lease payments	504
Less: Interest	71

Present value of lease liabilities	$	433


	December 31, 2019
	($ in millions)

2020	$	110
2021	104
2022	79
2023	70
2024	61
2025 and subsequent years	206
Total lease payments	630
Less: Interest	92

Present value of lease liabilities	$	538

Operating lease expense accounted for under ASC 840 “Leases” in 2018 included $102 million for minimum rents and $102 million for contingent rents. Contingent rents are primarily comprised of usage-based payments for equipment under service contracts.