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Leases (Tables)

9 Months Ended

Sep. 30, 2021

Summary of components of lease expense


		Three Months Ended						Nine Months Ended
Lease Cost		September 30,						September 30,
(in millions)		2021			2020			2021			2020
Operating lease cost		$	14		$	14		$	43		$	40
Variable operating lease cost			6			8			21			23
Short term lease cost			1			1			3			3
Lease cost		$	21		$	23		$	67		$	66

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


Operating Leases			As of
(in millions)			September 30, 2021
2021 (Excluding the nine months ended September 30, 2021)		$	14
2022			51
2023			41
2024			30
2025			21
Thereafter			67
Total future lease payments			224
Less imputed interest			25
Present value of future lease payments			199
Less current lease liabilities			47
Non-current operating lease liabilities		$	152
Operating lease assets		$	191

Summary of other lease information


		Three Months Ended						Nine Months Ended
Other Information		September 30,						September 30,
($ in millions)		2021			2020			2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	14		$	14		$	43		$	40
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		$	18		$	24		$	57		$	45
								As of			As of
								September 30, 2021			December 31, 2020
Weighted average remaining lease term:
Operating leases									6.7 years			5.5 years
Weighted average discount rate:
Operating leases									4.2	%		4.9	%