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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Schedule of Components of Leases | Components of leases are as follows (in millions):
|  | September 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Current portion of lease liabilities: |  |  |  |  |  |  |  |
Operating |  | $ | 83 |  |  | $ | — |
Financing |  |  | 30 |  |  |  | 7 |
Total |  | $ | 113 |  |  | $ | 7 |
|  | September 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Long-term portion of lease liability: |  |  |  |  |  |  |  |
Operating |  | $ | 418 |  |  | $ | — |
Financing |  |  | 255 |  |  | $ | 222 |
Total |  | $ | 673 |  |  | $ | 222 |
Components of Lease Expense | Components of lease expense were as follows (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2019 |  |  | September 30, 2019 |
Lease cost |  |  |  |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 7 |  |  | $ | 24 |
Interest on lease liabilities |  |  | 3 |  |  |  | 10 |
Operating lease cost |  |  | 28 |  |  |  | 88 |
Short-term lease cost |  |  | 19 |  |  |  | 52 |
Sub-lease income |  |  | (3 | ) |  |  | (8 | )
Total |  | $ | 54 |  |  | $ | 166 |
Schedule of Supplemental information Related to Leases | Supplemental information related to the Company’s leases is as follows (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2019 |  |  | September 30, 2019 |
Other information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | 3 |  |  | $ | 10 |
Operating cash flows from operating leases |  |  | 28 |  |  |  | 88 |
Financing cash flows from finance leases |  |  | 7 |  |  |  | 22 |
Right-of-use assets obtained in exchange for new: |  |  |  |  |  |  |  |
Operating lease liabilities |  |  | 10 |  |  |  | 41 |
Finance lease liabilities |  | $ | — |  |  | $ | 11 |
Weighted average remaining lease term at September 30, 2019: |  |  |  |  |  |  |  |
Operating leases |  |  |  |  |  | 10 years |
Finance leases |  |  |  |  |  | 16 years |
Weighted average discount rate at September 30, 2019: |  |  |  |  |  |  |  |
Operating leases |  |  |  |  |  |  | 5.02 | %
Finance leases |  |  |  |  |  |  | 5.41 | %
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 September 30, 2019, are payable as follows (in millions):
|  | Operating |  |  | Finance |
2019 |  | $ | 35 |  |  | $ | 14 |
2020 |  |  | 110 |  |  |  | 47 |
2021 |  |  | 87 |  |  |  | 39 |
2022 |  |  | 67 |  |  |  | 28 |
2023 |  |  | 50 |  |  |  | 20 |
Thereafter |  |  | 282 |  |  |  | 253 |
Total lease payments |  |  | 631 |  |  |  | 401 |
Less: Interest |  |  | (130 | ) |  |  | (116 | )
Present value of lease liabilities |  | $ | 501 |  |  | $ | 285 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph (a) -Subparagraph (5) + Details
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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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