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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Components of Lease Expense | The components of lease expense were as follows:
|  | For the Year Ended December 31, 2020
(In millions) |  | Vehicles |  | Buildings |  | Other |  | Total
Operating lease costs (1) |  | $ | 35 |  |  | $ | 8 |  |  | $ | 17 |  |  | $ | 60 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 14 |  |  | — |  |  | 1 |  |  | 15 |
Interest on lease liabilities |  | 2 |  |  | 3 |  |  | — |  |  | 5 |
Total finance lease cost |  | 16 |  |  | 3 |  |  | 1 |  |  | 20 |
Total lease cost |  | $ | 51 |  |  | $ | 11 |  |  | $ | 18 |  |  | $ | 80 |
(1) Includes $17 million of short-term lease costs.
|  | For the Year Ended December 31, 2019
(In millions) |  | Vehicles |  | Buildings |  | Other |  | Total
Operating lease costs (1) |  | $ | 28 |  |  | $ | 9 |  |  | $ | 12 |  |  | $ | 49 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 15 |  |  | 1 |  |  | 1 |  |  | 17 |
Interest on lease liabilities |  | 3 |  |  | 3 |  |  | — |  |  | 6 |
Total finance lease cost |  | 18 |  |  | 4 |  |  | 1 |  |  | 23 |
Total lease cost |  | $ | 46 |  |  | $ | 13 |  |  | $ | 13 |  |  | $ | 72 |
(1) Includes $13 million of short-term lease costs. Supplemental cash flow information related to leases was as follows:
|  | For the Years Ended,
(In millions) |  | December 31, 2020 |  | December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 44 |  |  | $ | 29 |
Operating cash flows from finance leases |  | 4 |  |  | 5
Finance cash flows from finance leases |  | 15 |  |  | 25
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 67 |  |  | $ | 83 |
Finance leases |  | — |  |  | 3
Maturities of lease liabilities as of December 31, 2020, were as follows:
(In millions) |  | Operating Leases |  | Finance Leases |  | Total
2021 |  | $ | 50 |  |  | $ | 18 |  |  | $ | 68 |
2022 |  | 49 |  |  | 15 |  |  | 64 |
2023 |  | 46 |  |  | 8 |  |  | 54 |
2024 |  | 38 |  |  | 4 |  |  | 42 |
2025 |  | 36 |  |  | 4 |  |  | 40 |
Thereafter |  | 147 |  |  | 12 |  |  | 159 |
Total lease payments (1) |  | 366 |  |  | 61 |  |  | 427 |
Less imputed interest |  | 61 |  |  | 16 |  |  | 77 |
Total net present value |  | $ | 305 |  |  | $ | 45 |  |  | $ | 350 |
(1) Operating lease payments for certain leases are offset by sublease receipts of $11 million over 12 years.
Assets and Liabilities, Lessee | Lease terms and discount rates were as follows:
|  | As of December 31, 2020 |  | As of December 31, 2019
Weighted-average remaining lease terms (years) |  |  |  |
Operating leases |  | 8.55 |  | 9.42
Finance leases |  | 7.74 |  | 4.62
Weighted-average discount rate (1) |  |  |  |
Operating leases |  | 4.21 | % |  | 4.51 | %
Finance leases |  | 11.58 | % |  | 10.45 | %
(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:
|  |  |  | As of December 31,
(In millions) |  | Financial Statement Line Item |  | 2020 |  | 2019
Assets |  |  |  |  |  |
Operating lease (1) |  | Deferred charges and other assets |  | $ | 265 |  |  | $ | 231 |
Finance lease (2) |  | Property, plant and equipment |  | 57 |  |  | 73 |
Total leased assets |  |  |  | $ | 322 |  |  | $ | 304 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 42 |  |  | $ | 32 |
Finance |  | Currently payable long-term debt |  | 14 |  |  | 15 |
Noncurrent: |  |  |  |  |  |
Operating |  | Other noncurrent liabilities |  | 263 |  |  | 241 |
Finance |  | Long-term debt and other long-term obligations |  | 31 |  |  | 45 |
Total leased liabilities |  |  |  | $ | 350 |  |  | $ | 333 |
(1) Operating lease assets are recorded net of accumulated amortization of $51 million and $23 million as of December 31, 2020 and 2019, respectively. (2) Finance lease assets are recorded net of accumulated amortization of $96 million and $90 million as of December 31, 2020 and 2019, respectively.
Maturity of Operating Lease Liabilities | Maturities of lease liabilities as of December 31, 2020, were as follows:
(In millions) |  | Operating Leases |  | Finance Leases |  | Total
2021 |  | $ | 50 |  |  | $ | 18 |  |  | $ | 68 |
2022 |  | 49 |  |  | 15 |  |  | 64 |
2023 |  | 46 |  |  | 8 |  |  | 54 |
2024 |  | 38 |  |  | 4 |  |  | 42 |
2025 |  | 36 |  |  | 4 |  |  | 40 |
Thereafter |  | 147 |  |  | 12 |  |  | 159 |
Total lease payments (1) |  | 366 |  |  | 61 |  |  | 427 |
Less imputed interest |  | 61 |  |  | 16 |  |  | 77 |
Total net present value |  | $ | 305 |  |  | $ | 45 |  |  | $ | 350 |
(1) Operating lease payments for certain leases are offset by sublease receipts of $11 million over 12 years.
Maturity of Finance Lease Liabilities | Maturities of lease liabilities as of December 31, 2020, were as follows:
(In millions) |  | Operating Leases |  | Finance Leases |  | Total
2021 |  | $ | 50 |  |  | $ | 18 |  |  | $ | 68 |
2022 |  | 49 |  |  | 15 |  |  | 64 |
2023 |  | 46 |  |  | 8 |  |  | 54 |
2024 |  | 38 |  |  | 4 |  |  | 42 |
2025 |  | 36 |  |  | 4 |  |  | 40 |
Thereafter |  | 147 |  |  | 12 |  |  | 159 |
Total lease payments (1) |  | 366 |  |  | 61 |  |  | 427 |
Less imputed interest |  | 61 |  |  | 16 |  |  | 77 |
Total net present value |  | $ | 305 |  |  | $ | 45 |  |  | $ | 350 |
(1) Operating lease payments for certain leases are offset by sublease receipts of $11 million over 12 years.

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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=121609121&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=121609121&loc=SL77918701-209980 + Details
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