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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases

Summary of net lease cost

​

​	​	​	​	​	​	​	​
Lease Cost	​	Three Months Ended June 30,		​	Six Months Ended June 30,		​
(in millions)		2019			2019		​
Operating lease cost	​	$	14	​	$	27	​
Variable operating lease cost	​	​	6	​	​	12	​
Short term lease cost	​	​	1	​	​	1	​
Lease cost	​	$	21	​	$	40	​

Reconciliation of future undiscounted cash flows to the operating lease liabilities and the related ROU assets

​

​	​	​	​	​
Operating Leases	​	​	As of	​
(in millions)	​	​	June 30, 2019	​
2019 (Excluding the six months ended June 30, 2019)	​	$	26	​
2020	​	​	42	​
2021	​	​	32	​
2022	​	​	24	​
2023	​	​	18	​
Thereafter	​	​	35	​
Total future lease payments	​	​	177	​
Less imputed interest	​	​	25	​
Present value of future lease payments	​	​	152	​
Less current lease liabilities	​	​	41	​
Non-current operating lease liabilities	​	$	111	​
Operating lease assets	​	$	143	​

Summary of other lease information

​

​	​	​	​	​	​	​	​
Other Information	​	Three Months Ended June 30,		​	Six Months Ended June 30,		​
($ in millions)	​	2019			2019
Cash paid for amounts included in the measurement of lease liabilities:	​	​	​	​	​	​	​
Operating cash flows from operating leases	​	$	14	​	$	29	​
Right-of-use assets obtained in exchange for lease liabilities:	​	​	​	​	​	​	​
Operating leases	​	$	6	​	$	167	​
​	​	​	​	​	As of		​
​	​	​	​	​	June 30, 2019		​
Weighted average remaining lease term:	​	​	​	​	​	​	​
Operating leases	​	​	​	​	​	5.4 years	​
Weighted average discount rate:	​	​	​	​	​	​	​
Operating leases	​	​	​	​	​	5.9	%

Schedule of minimum lease payments due on leases

As the Company has not restated prior-year information for its adoption of ASC Topic 842, the following presents its future minimum lease payments for operating leases under ASC Topic 840 on December 31, 2018:

​

​	​	​	​	​
Operating Leases	​	As of		​
(in millions)	​	December 31, 2018		​
2019	​	$	53	​
2020	​	​	44	​
2021	​	​	40	​
2022	​	​	27	​
2023	​	​	22	​
Thereafter	​	​	27	​
Total future lease payments	​	$	213	​
​	​	​	​	​

​

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The tabular disclosure of other information .

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No definition available.

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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

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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
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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 55
-Paragraph 40
-Subparagraph (Note 1,3)
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