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Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Schedule of Components of Leases | Components of leases are as follows (in millions):
|  | June 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Current portion of lease liabilities: |  |  |  |  |  |  |  |
Operating |  | $ | 88 |  |  | $ | — |
Financing |  |  | 28 |  |  |  | 7 |
Total |  | $ | 116 |  |  | $ | 7 |
|  | June 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Long-term portion of lease liability: |  |  |  |  |  |  |  |
Operating |  | $ | 431 |  |  | $ | — |
Financing |  |  | 265 |  |  | $ | 222 |
Total |  | $ | 696 |  |  | $ | 222 |
Components of Lease Expense | Components of lease expense were as follows (in millions):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2019 |  |  | June 30, 2019 |
Lease cost |  |  |  |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 9 |  |  | $ | 17 |
Interest on lease liabilities |  |  | 3 |  |  |  | 7 |
Operating lease cost |  |  | 27 |  |  |  | 60 |
Short-term lease cost |  |  | 17 |  |  |  | 33 |
Sub-lease income |  |  | (3 | ) |  |  | (6 | )
Total |  | $ | 53 |  |  | $ | 111 |
Schedule of Supplemental information Related to Leases | Supplemental information related to the Company’s leases is as follows (in millions):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2019 |  |  | June 30, 2019 |
Other information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | 3 |  |  | $ | 7 |
Operating cash flows from operating leases |  |  | 28 |  |  |  | 61 |
Financing cash flows from finance leases |  |  | 8 |  |  |  | 15 |
Right-of-use assets obtained in exchange for new: |  |  |  |  |  |  |  |
Operating lease liabilities |  |  | — |  |  |  | 31 |
Finance lease liabilities |  | $ | 5 |  |  | $ | 11 |
Weighted average remaining lease term: |  |  |  |  |  |  |  |
Operating leases |  |  |  |  |  | 10 years |
Finance leases |  |  |  |  |  | 17 years |
Weighted average discount rate: |  |  |  |  |  |  |  |
Operating leases |  |  |  |  |  |  | 5.04 | %
Finance leases |  |  |  |  |  |  | 5.46 | %
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 June 30, 2019, are payable as follows (in millions):
|  | Operating |  |  | Finance |
2019 |  | $ | 81 |  |  | $ | 27 |
2020 |  |  | 126 |  |  |  | 45 |
2021 |  |  | 88 |  |  |  | 37 |
2022 |  |  | 69 |  |  |  | 27 |
2023 |  |  | 53 |  |  |  | 19 |
Thereafter |  |  | 281 |  |  |  | 263 |
Total lease payments |  |  | 698 |  |  |  | 418 |
Less: Interest |  |  | (179 | ) |  |  | (125 | )
Present value of lease liabilities |  | $ | 519 |  |  | $ | 293 |

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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 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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