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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Components of leases are as follows (in millions):

	December 31,
	2019		2018
Current portion of lease liabilities:
Operating	$	84	$	—
Financing		30		7
Total	$	114	$	7

	December 31,
	2019		2018
Long-term portion of lease liability:
Operating	$	424	$	—
Financing		250		222
Total	$	674	$	222

Components of Lease Expense

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

	Years Ended
	December 31, 2019
Lease cost
Finance lease cost
Amortization of right-of-use assets	$	32
Interest on lease liabilities		13
Operating lease cost		115
Short-term lease cost		68
Sub-lease income		(11	)
Total	$	217

Schedule of Supplemental information Related to Leases

Supplemental information related to the Company’s leases is as follows (in millions):

	Year Ended
	December 31, 2019
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases	$	13
Operating cash flows - operating leases		115
Financing cash flows - finance leases		32
Right-of-use assets obtained in exchange for new:
Operating lease liabilities		53
Finance lease liabilities	$	12

Weighted average remaining lease term at December 31, 2019:
Operating leases	10 years
Finance leases	16 years
Weighted average discount rate at December 31, 2019:
Operating leases		4.48	%
Finance leases		4.58	%

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 December 31, 2019, are payable as follows (in millions):

	Operating			Finance
2020	$	98		$	38
2021		81			33
2022		64			25
2023		49			18
2024		40			15
Thereafter		228			210
Total lease payments		560			339
Less: Interest		(52	)		(59	)
Present value of lease liabilities	$	508		$	280