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Leases (Tables)

9 Months Ended

Sep. 30, 2020

Lease expense was comprised of the following:



	Three months ended September 30, 2020		Three months ended September 30, 2019		Nine months ended September 30, 2020		Nine months ended September 30, 2019
	(In millions)
Operating lease cost - Fixed	$	5	$	2	$	14	$	6

Operating lease cost - Variable	2		3		7		10
Total lease cost	$	7	$	5	$	21	$	16

The Company lease liabilities as of September 30, 2020 and December 31, 2019 comprised of the following:


	September 30, 2020			December 31, 2019
	(In millions, except term and rate)

ROU Assets - operating leases, net	$	256		$	223

Short-term lease liability - operating leases (a)	7			7
Long-term lease liability - operating leases	260			227
Total lease liability	$	267		$	234

Weighted average remaining lease term	24			25
Weighted average discount rate	4.3		%	4.4		%

	Nine months ended September 30, 2020			Nine months ended September 30, 2019
Cash paid for operating leases	$	13		$	7

(a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of September 30, 2020 and December 31, 2019.

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of September 30, 2020 are as follows:


(In millions)
Remainder of 2020	$	5
2021	18
2022	18
2023	18
2024	18
Thereafter	332
Total lease payments	409
Less imputed interest	(142)
Total lease liability - operating leases	$	267

Revenue Related to Leases


	Three months ended September 30, 2020
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	3	$	153	$	—	$	156
Capacity revenue	119		—		—		119
Operating revenue	$	122	$	153	$	—	$	275


	Nine months ended September 30, 2020
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	6	$	449	$	1	$	456
Capacity revenue	338		—		—		338
Operating revenue	$	344	$	449	$	1	$	794


	Three months ended September 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	160	$	1	$	163
Capacity revenue	89		—		—		89
Operating revenue	$	91	$	160	$	1	$	252


	Nine months ended September 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	4	$	416	$	2	$	422
Capacity revenue	253		—		—		253
Operating revenue	$	257	$	416	$	2	$	675

Minimum Future Rent Payments under Operating Leases

Minimum future rent payments under the operating leases for the remaining periods as of September 30, 2020.


(In millions)
Remainder of 2020	$	117
2021	444
2022	450
2023	259
2024	106
Thereafter	1,605
Total lease payments	$	2,981

Future Minimum Lease Commitments Under Operating Leases

Property, plant and equipment, net related to the Company’s operating leases were as follows:


(In millions)	September 30, 2020		December 31, 2019
Property, plant and equipment	$	6,975	$	6,942
Accumulated depreciation	(1,854)		(1,649)
Net property, plant and equipment	$	5,121	$	5,293