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FINANCE COSTS, NET (Tables) | 12 Months Ended
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Dec. 31, 2020
Finance Costs [Abstract] |
Financing costs, net |
For the years ended December 31 | 2020 | 2019
Interest 1 | $342 |  | $435 |
Amortization of debt issue costs | 2 |  | 2 |
Amortization of premium | (1) |  | (1) |
Interest on lease liabilities | 5 |  | 6 |
Gain on interest rate hedges | (5) |  | (6) |
Interest capitalized 2 | (24) |  | (14) |
Accretion | 41 |  | 75 |
Loss on debt extinguishment | 15 |  | 3 |
Finance income | (28) |  | (31) |
Total | $347 |  | $469 |
1 Interest in the consolidated statements of cash flow is presented on a cash basis. In 2020, cash interest paid was $295 million (2019: $333 million). 2For the year ended December 31, 2020, the general capitalization rate was 5.90% (2019: 6.30%).

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