Leases (Tables)

6 Months Ended

Jun. 30, 2019

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