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Leases | 12 Months Ended
--- | ---
Dec. 31, 2020
Leases [Abstract] |
Leases | Leases As discussed in Note A, the Company adopted new guidance on lease accounting on January 1, 2019 on a modified retrospective basis. Total operating lease expense under the previous guidance was $50 for the year ended December 31, 2018. The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:
| 2020 |  | 2019
Operating lease costs: |  |  |
Operating lease cost | $ | 52 |  |  | $ | 49 |
Short-term lease cost | 5 |  |  | 4 |
Total operating lease costs | $ | 57 |  |  | $ | 53 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | $ | 1 |  |  | $ | 1 |
Total finance lease costs | $ | 1 |  |  | $ | 1 |
Variable operating lease costs were $3 for the years ended December 31, 2020 and December 31, 2019. Interest on finance lease liabilities were less than $1 for the years ended December 31, 2020 and December 31, 2019. Supplemental cash flow information related to leases was as follows:
| 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 58 |  |  | $ | 51 |
Financing cash flows from finance leases | 3 |  |  | 15 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |
Operating leases | $ | 53 |  |  | $ | 33 |
Supplemental balance sheet information related to finance leases was as follows:
| 2020 |  | 2019
Finance leases: |  |  |
Property, plant and equipment | $ | 28 |  |  | $ | 27 |
Accumulated depreciation | (2) |  |  | (1) |
Property, plant and equipment, net | $ | 26 |  |  | $ | 26 |
Accrued liabilities | $ | 2 |  |  | $ | 2 |
Other non-current liabilities | 10 |  |  | 11 |
Total finance lease liabilities | $ | 12 |  |  | $ | 13 |
The weighted average remaining lease term and weighted average discount rates for each year were as follows:
| 2020 |  | 2019 |
Weighted average remaining lease term: |  |  |  |
Operating leases | 9.3 |  | 9.5 |
Finance leases | 6.6 |  | 7.0 |
Weighted average discount rate: |  |  |  |
Operating leases | 4.0 | % |  | 4.2 | % |
Finance leases | 3.4 | % |  | 4.1 | % |
Maturities of lease liabilities as of December 31, 2020 were as follows:
| Operating Leases |  | Finance Leases
2021 | $ | 56 |  |  | $ | 2 |
2022 | 45 |  |  | 2 |
2023 | 33 |  |  | 2 |
2024 | 25 |  |  | 2 |
2025 | 20 |  |  | 2 |
Thereafter | 99 |  |  | 3 |
Total lease payments | 278 |  |  | 13 |
Less imputed interest | (59) |  |  | (1) |
Total | $ | 219 |  |  | $ | 12 |
At December 31, 2020, the Company does not have material lease commitments that have not commenced.
Leases | Leases As discussed in Note A, the Company adopted new guidance on lease accounting on January 1, 2019 on a modified retrospective basis. Total operating lease expense under the previous guidance was $50 for the year ended December 31, 2018. The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:
| 2020 |  | 2019
Operating lease costs: |  |  |
Operating lease cost | $ | 52 |  |  | $ | 49 |
Short-term lease cost | 5 |  |  | 4 |
Total operating lease costs | $ | 57 |  |  | $ | 53 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | $ | 1 |  |  | $ | 1 |
Total finance lease costs | $ | 1 |  |  | $ | 1 |
Variable operating lease costs were $3 for the years ended December 31, 2020 and December 31, 2019. Interest on finance lease liabilities were less than $1 for the years ended December 31, 2020 and December 31, 2019. Supplemental cash flow information related to leases was as follows:
| 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 58 |  |  | $ | 51 |
Financing cash flows from finance leases | 3 |  |  | 15 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |
Operating leases | $ | 53 |  |  | $ | 33 |
Supplemental balance sheet information related to finance leases was as follows:
| 2020 |  | 2019
Finance leases: |  |  |
Property, plant and equipment | $ | 28 |  |  | $ | 27 |
Accumulated depreciation | (2) |  |  | (1) |
Property, plant and equipment, net | $ | 26 |  |  | $ | 26 |
Accrued liabilities | $ | 2 |  |  | $ | 2 |
Other non-current liabilities | 10 |  |  | 11 |
Total finance lease liabilities | $ | 12 |  |  | $ | 13 |
The weighted average remaining lease term and weighted average discount rates for each year were as follows:
| 2020 |  | 2019 |
Weighted average remaining lease term: |  |  |  |
Operating leases | 9.3 |  | 9.5 |
Finance leases | 6.6 |  | 7.0 |
Weighted average discount rate: |  |  |  |
Operating leases | 4.0 | % |  | 4.2 | % |
Finance leases | 3.4 | % |  | 4.1 | % |
Maturities of lease liabilities as of December 31, 2020 were as follows:
| Operating Leases |  | Finance Leases
2021 | $ | 56 |  |  | $ | 2 |
2022 | 45 |  |  | 2 |
2023 | 33 |  |  | 2 |
2024 | 25 |  |  | 2 |
2025 | 20 |  |  | 2 |
Thereafter | 99 |  |  | 3 |
Total lease payments | 278 |  |  | 13 |
Less imputed interest | (59) |  |  | (1) |
Total | $ | 219 |  |  | $ | 12 |
At December 31, 2020, the Company does not have material lease commitments that have not commenced.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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