Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of lease costs and other lessee information

The following table presents components of lease cost, including both amounts recognized in income and amounts capitalized (in millions):



Lease Cost	Three Months Ended March 31, 2019
Operating lease cost	$	32
Short-term lease cost	8
Other ⁽¹⁾	1
Total lease cost	$	41


⁽¹⁾	Includes immaterial finance lease costs, variable lease costs and sublease income.

The following table presents information related to cash flows arising from lease transactions (in millions):



	Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	33
Financing cash flows for finance leases	$	4

Information related to the weighted-average remaining lease term and discount rate is presented in the table below:



	March 31, 2019
Weighted-average remaining lease term (in years):
Operating leases	9.8
Finance leases	3.0

Weighted-average discount rate:
Operating leases	4.5%
Finance leases	2.2%

Lease Assets and Liabilities

The following table presents the amount and location of our operating and finance lease right-of-use assets and liabilities on our Condensed Consolidated Balance Sheet (in millions):



Leases	Balance Sheet Location	March 31, 2019
Assets
Operating lease right-of-use assets	Long-term operating lease right-of-use assets, net	$	477

Finance lease right-of-use assets	Property and equipment	$	109
	Accumulated depreciation	(17		)
	Property and equipment, net	$	92

Total lease right-of-use assets		$	569

Liabilities
Operating lease liabilities
Current	Other current liabilities	$	104
Noncurrent	Long-term operating lease liability	383
Total operating lease liabilities		$	487

Finance lease liabilities
Current	Short-term debt	$	19
Noncurrent	Other long-term debt, net	36
Total finance lease liabilities		$	55

Total lease liabilities		$	542

Schedule of Operating Lease Maturity

The following table presents the maturity of undiscounted cash flows for future minimum lease payments under noncancelable leases as of March 31, 2019 reconciled to our lease liabilities on our Condensed Consolidated Balance Sheet (amounts in millions):



	Operating			Finance
Future minimum lease payments⁽¹⁾:
Remainder of 2019	$	92		$	15
2020	108			16
2021	89			7
2022	75			7
2023	52			5
Thereafter	244			7
Total	660			57
Less: Present value discount	(173		)	(2		)
Lease liabilities	$	487		$	55


⁽¹⁾	Excludes future minimum payments for short-term and other immaterial leases not included on our Condensed Consolidated Balance Sheet.

Schedule of Finance Lease Maturity



	Operating			Finance
Future minimum lease payments⁽¹⁾:
Remainder of 2019	$	92		$	15
2020	108			16
2021	89			7
2022	75			7
2023	52			5
Thereafter	244			7
Total	660			57
Less: Present value discount	(173		)	(2		)
Lease liabilities	$	487		$	55


⁽¹⁾	Excludes future minimum payments for short-term and other immaterial leases not included on our Condensed Consolidated Balance Sheet.

Schedule of Lessor Future Revenues Maturity

The table below presents the maturity of lease payments for operating lease agreements in effect as of March 31, 2019. This presentation includes minimum fixed lease payments and does not include an estimate of variable lease consideration. These agreements have remaining lease terms ranging from two years to 23 years. The following table presents the undiscounted cash flows expected to be received related to these agreements (in millions):



	Remainder of 2019		2020		2021		2022		2023		Thereafter
Facilities segment lease revenue	$	11	$	15	$	16	$	17	$	13	$	159