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Leases | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases of Lessee Disclosure [Text Block] | Leases The Company has operating and finance leases for corporate and field offices. We determine if an arrangement is a lease at inception or modification. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and corresponding lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Certain lease incentives such as free rent periods are recorded as a reduction of the ROU asset. The Company uses an incremental borrowing rate that is readily available in determining the present value of future lease payments. Lease costs for operating ROU assets is recognized on a straight-line basis over the lease term. Certain leases include one or more options to renew with terms that can extend the lease from one year to 20 years. The exercise of any lease renewal option is at the sole discretion of the Company. Renewal options are included in the ROU assets and lease liabilities when they either provide an economic incentive to renew or when the costs related to the termination of a lease outweigh the benefits of signing a new lease. The following table presents the balances for operating and finance ROU assets and lease liabilities:
Leases |  | Classification |  | September 30, 2019
|  | (in millions)
Assets |  |  |  |
Operating lease assets |  | Other assets |  | $ | 220 |
Finance lease assets |  | Other assets |  | 54 |
Total lease assets |  |  |  | $ | 274 |
Liabilities |  |  |  |
Operating lease liabilities |  | Other liabilities |  | $ | 243 |
Finance lease liabilities |  | Long-term debt |  | 61 |
Total lease liabilities |  |  |  | $ | 304 |
The components of lease expense include operating and finance lease costs. For the three months and nine months ended September 30, 2019 operating lease costs were $15 million and $44 million, respectively. For the three months and nine months ended September 30, 2019, finance lease costs consisted of $2 million and $6 million, respectively, in amortization and $1 million and $2 million, respectively, of interest expense. Amortization is recorded in general and administrative expenses and interest expense is recorded in interest and debt expense in the Consolidated Statements of Operations. Maturities of lease liabilities, weighted-average remaining term and weighted-average discount rate are as follows:
Maturity of Lease Liabilities |  | September 30, 2019
Finance Leases |  | Operating Leases
|  | (in millions)
2019 (1) |  | $ | 4 |  |  | $ | 10 |
2020 |  | 14 |  |  | 60 |
2021 |  | 10 |  |  | 47 |
2022 |  | 10 |  |  | 39 |
2023 |  | 10 |  |  | 32 |
Thereafter |  | 19 |  |  | 80 |
Total lease payments |  | 67 |  |  | 268 |
Less: Interest |  | (6 | ) |  | (25 | )
Present value of lease liabilities |  | $ | 61 |  |  | $ | 243 |
Weighted-average remaining lease term (years) |  | 6.1 |  |  | 6.1 |
Weighted-average discount rate |  | 3.4 | % |  | 3.1 | %
(1) 2019 amounts represent the amounts payable for the period from October 1, 2019 to December 31, 2019. Maturities of lease liabilities prior to the adoption of new lease guidance were as follows:
Maturity of Lease Liabilities |  | December 31, 2018
Operating Leases
|  | (in millions)
2019 |  | $ | 61 |
2020 |  | 53 |
2021 |  | 40 |
2022 |  | 33 |
2023 |  | 26 |
Thereafter |  | 65 |
Total lease payments |  | $ | 278 |
For the nine months ended September 30, 2019, operating cash flows included $47 million of cash paid for amounts included in the measurement of operating lease liabilities and $2 million of cash paid for amounts included in the measurement of finance lease liabilities. For the nine months ended September 30, 2019, financing cash flows included $10 million of cash paid for amounts included in the measurement of finance lease liabilities.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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