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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lease, Cost | The components of lease cost included in income from continuing operations were as follows, in millions:
| 2020 |  | 2019
Operating lease cost | $ | 47 |  |  | $ | 49 |
Short-term lease cost | 7 |  |  | 6 |
Variable lease cost | 3 |  |  | 3 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | 3 |  |  | 3 |
Interest on lease liabilities | 1 |  |  | 1 |
Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows, in millions
|  |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows for operating leases |  |  | $ | 47 |  |  | $ | 58 |
Operating cash flows for finance leases |  |  | 1 |  |  | 1 |
Financing cash flows for finance leases |  |  | 2 |  |  | 8 |
ROU assets obtained in exchange for new lease obligations: |  |  |  |  |
Operating leases (A) |  |  | 27 |  |  | 27 |
Finance leases |  |  | — |  |  | — |
______________________________ (A)Includes $9 million of ROU assets obtained in exchange for new lease obligations related to the acquisitions of Kraus and Work Tools in the fourth quarter of 2020.
Lessee, Other Lease Information | Certain other information related to leases was as follows:
| At December 31
| 2020 |  | 2019
Weighted-average remaining lease term: |  |  |
Operating leases | 10 years |  | 10 years
Finance leases | 10 years |  | 11 years
Weighted-average discount rate: |  |  |
Operating leases | 4.4 | % |  | 4.6 | %
Finance leases | 3.3 | % |  | 3.4 | %
Schedule of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows, in millions:
| At December 31, 2020 |  | At December 31, 2019
| Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Property and equipment, net | $ | — |  |  | $ | 27 |  |  | $ | — |  |  | $ | 29 |
Notes payable | — |  |  | 2 |  |  | — |  |  | 2 |
Accrued liabilities | 39 |  |  | — |  |  | 38 |  |  | — |
Long-term debt | — |  |  | 26 |  |  | — |  |  | 28 |
Finance Lease, Liability, Maturity | At December 31, 2020, future maturities of lease liabilities were as follows, in millions:
| Operating Leases |  | Finance Leases
Year ending December 31, |  |  |
2021 | $ | 46 |  |  | $ | 3 |
2022 | 37 |  |  | 3 |
2023 | 27 |  |  | 3 |
2024 | 20 |  |  | 4 |
2025 | 16 |  |  | 4 |
Thereafter | 89 |  |  | 16 |
Total lease payments | 235 |  |  | 33 |
Less: imputed interest | (47) |  |  | (5) |
Total | $ | 188 |  |  | $ | 28 |
Operating Lease, Liability, Maturity | At December 31, 2020, future maturities of lease liabilities were as follows, in millions:
| Operating Leases |  | Finance Leases
Year ending December 31, |  |  |
2021 | $ | 46 |  |  | $ | 3 |
2022 | 37 |  |  | 3 |
2023 | 27 |  |  | 3 |
2024 | 20 |  |  | 4 |
2025 | 16 |  |  | 4 |
Thereafter | 89 |  |  | 16 |
Total lease payments | 235 |  |  | 33 |
Less: imputed interest | (47) |  |  | (5) |
Total | $ | 188 |  |  | $ | 28 |

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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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