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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Components of Lease Expense | The components of lease expense were as follows:
|  | For the Three Months Ended September 30, 2019
(In millions) |  | Vehicles |  | Buildings |  | Other |  | Total
Operating lease costs (1) |  | $ | 5 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 11 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 4 |  |  | — |  |  | — |  |  | 4 |
Interest on lease liabilities |  | — |  |  | — |  |  | — |  |  | — |
Total finance lease cost |  | 4 |  |  | — |  |  | — |  |  | 4 |
Total lease cost |  | $ | 9 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 15 |
(1) Includes $2 million of short-term lease costs.
|  | For the Nine Months Ended September 30, 2019
(In millions) |  | Vehicles |  | Buildings |  | Other |  | Total
Operating lease costs (1) |  | $ | 20 |  |  | $ | 6 |  |  | $ | 9 |  |  | $ | 35 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 12 |  |  | — |  |  | 1 |  |  | 13 |
Interest on lease liabilities |  | 2 |  |  | 2 |  |  | — |  |  | 4 |
Total finance lease cost |  | 14 |  |  | 2 |  |  | 1 |  |  | 17 |
Total lease cost |  | $ | 34 |  |  | $ | 8 |  |  | $ | 10 |  |  | $ | 52 |
(1) Includes $8 million of short-term lease costs. Supplemental cash flow information related to leases was as follows:
(In millions) |  | For the Three Months Ended September 30, 2019 |  | For the Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 4 |  |  | $ | 19 |
Operating cash flows from finance leases |  | 1 |  |  | 4 |
Finance cash flows from finance leases |  | 12 |  |  | 21 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 47 |  |  | $ | 73 |
Finance leases |  | — |  |  | 2 |
Lease terms and discount rates were as follows:
|  | As of September 30, 2019
Weighted-average remaining lease terms (years) |  |
Operating leases |  | 8.39 |
Finance leases |  | 4.66 |
Weighted-average discount rate (1) |  |
Operating leases |  | 4.76 | %
Finance leases |  | 3.45 | %
(1) When an implicit rate is not readily determinable, an incremental borrowing rate is utilized, determining the present value of lease payments. The rate is determined based on expected term and information available at the commencement date. Supplemental balance sheet information related to leases was as follows:
(In millions) |  | Financial Statement Line Item |  | As of September 30, 2019
Assets |  |  |  |
Operating lease assets, net of accumulated amortization of $17 million |  | Deferred charges and other assets |  | $ | 200 |
Finance lease assets, net of accumulated amortization of $91 million |  | Property, plant and equipment |  | 76 |
Total leased assets |  |  |  | $ | 276 |
Liabilities |  |  |  |
Current: |  |  |  |
Operating |  | Other current liabilities |  | $ | 34 |
Finance |  | Currently payable long-term debt |  | 16 |
Noncurrent: |  |  |  |
Operating |  | Other noncurrent liabilities |  | 212 |
Finance |  | Long-term debt and other long-term obligations |  | 47 |
Total leased liabilities |  |  |  | $ | 309 |
Maturity of Operating Lease Liabilities | Maturities of lease liabilities as of September 30, 2019, were as follows:
(In millions) |  | Operating Leases |  | Finance Leases |  | Total |
2019 |  | $ | 8 |  |  | $ | 12 |  |  | $ | 20 |  |
2020 |  | 42 |  |  | 19 |  |  | 61 |  |
2021 |  | 40 |  |  | 17 |  |  | 57 |  |
2022 |  | 39 |  |  | 15 |  |  | 54 |  |
2023 |  | 35 |  |  | 8 |  |  | 43 |  |
2024 |  | 30 |  |  | 4 |  |  | 34 |  |
Thereafter |  | 108 |  |  | 12 |  |  | 120 |  |
Total lease payments (1) |  | 302 |  |  | 87 |  |  | 389 |  |
Less imputed interest |  | (56 | ) |  | (24 | ) |  | (80 | ) |
Total net present value |  | $ | 246 |  |  | $ | 63 |  |  | $ | 309 |  |
(1) Operating lease payments for certain leases are offset by sublease receipts of $13 million over 13 years.
Maturity of Finance Lease Liabilities | Maturities of lease liabilities as of September 30, 2019, were as follows:
(In millions) |  | Operating Leases |  | Finance Leases |  | Total |
2019 |  | $ | 8 |  |  | $ | 12 |  |  | $ | 20 |  |
2020 |  | 42 |  |  | 19 |  |  | 61 |  |
2021 |  | 40 |  |  | 17 |  |  | 57 |  |
2022 |  | 39 |  |  | 15 |  |  | 54 |  |
2023 |  | 35 |  |  | 8 |  |  | 43 |  |
2024 |  | 30 |  |  | 4 |  |  | 34 |  |
Thereafter |  | 108 |  |  | 12 |  |  | 120 |  |
Total lease payments (1) |  | 302 |  |  | 87 |  |  | 389 |  |
Less imputed interest |  | (56 | ) |  | (24 | ) |  | (80 | ) |
Total net present value |  | $ | 246 |  |  | $ | 63 |  |  | $ | 309 |  |
(1) Operating lease payments for certain leases are offset by sublease receipts of $13 million over 13 years.
Schedule of Future Minimum Capital Lease Payments | The future minimum capital lease payments as of December 31, 2018, as reported in the Annual Report on Form 10-K for the year ended December 31, 2018 under ASC 840 ”Leases” are as follows:
Capital Leases |  |
|  | (In millions)
2019 |  | $ | 24 |
2020 |  | 19 |
2021 |  | 16 |
2022 |  | 13 |
2023 |  | 8 |
Years thereafter |  | 16 |
Total minimum lease payments |  | 96 |
Interest portion |  | (23 | )
Present value of net minimum lease payments |  | 73 |
Less current portion |  | 18 |
Noncurrent portion |  | $ | 55 |
Schedule of Future Minimum Operating Lease Payments | The future minimum operating lease payments as of December 31, 2018, as reported in the Annual Report on Form 10-K for the year ended December 31, 2018 under ASC 840 ”Leases” are as follows:
Operating Leases |  |
|  | (In millions)
2019 |  | $ | 34 |
2020 |  | 36 |
2021 |  | 34 |
2022 |  | 30 |
2023 |  | 28 |
Years thereafter |  | 127 |
Total minimum lease payments |  | $ | 289 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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