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Leases (Tables)

3 Months Ended

Mar. 31, 2019

Components of leases are as follows (in millions):

	March 31,		December 31,
	2019		2018
Lease right-of-use assets:
Operating	$	542	$	—
Financing		247		—
Total	$	789	$	—

	March 31,		December 31,
	2019		2018
Current portion of lease liabilities:
Operating	$	91	$	—
Financing		24		7
Total	$	115	$	7

	March 31,		December 31,
	2019		2018
Long-term portion of lease liability:
Operating	$	468	$	—
Financing		260	$	222
Total	$	728	$	222

Components of Lease Expense

Components of lease expense were as follows (in millions):

	Three Months Ended
	March 31, 2019
Lease cost
Finance lease cost
Amortization of right-of-use assets	$	8
Interest on lease liabilities		4
Operating lease cost		33
Short-term lease cost		16
Variable lease cost		—
Sub-lease income		(3	)
Total	$	58

Schedule of Supplemental information Related to Leases

Supplemental information related to the Company’s leases for the three months ended March 31, 2019 was as follows (in millions):

	Three Months Ended
	March 31, 2019
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	4
Operating cash flows from operating leases		33
Financing cash flows from finance leases		7

Right-of-use assets obtained in exchange for new finance lease liabilities	$	6
Right-of-use assets obtained in exchange for new operating lease liabilities		31

Weighted average remaining lease term - finance leases	17 years
Weighted average remaining lease term - operating leases	10 years

Weighted average discount rate - finance leases	5.53%
Weighted average remaining lease term - operating leases	5.03%

Future Minimum Lease Commitments for Leases with Initial or Remaining Terms of One Year or More

Future minimum lease commitments for leases with initial or remaining terms of one year or more at March 31, 2019, are payable as follows (in millions):

Undiscounted Cash Flows	Finance			Operating
04/01/2019 - 03/31/2020	$	38		$	121
04/01/2020 - 03/31/2021		34			100
04/01/2021 - 03/31/2022		28			84
04/01/2022 - 03/31/2023		21			64
04/01/2023 - 03/31/2024		17			50
04/01/2024 - beyond		254			302
Total lease payments		392			721
Less: Interest		(108	)		(162	)
Present value of lease liabilities	$	284		$	559