LEASES

3 Months Ended

Mar. 31, 2020

Balance sheet information related to our operating and finance leases as of March 31, 2020 and December 31, 2019 was as follows:



	Balance Sheet Location	March 31, 2020		December 31, 2019
		(in millions)
Right-of-Use Assets
Operating lease, net	Other assets	$	46	$	59
Finance lease, net	PP&E	—		2
Total right-of-use assets		$	46	$	61

Lease Liabilities
Current
Operating lease	Accrued liabilities	$	18	$	27
Finance lease	Accrued liabilities	1		1
Long-term
Operating lease	Other long-term liabilities	35		37
Finance lease	Other long-term liabilities	1		1
Total lease liabilities		$	55	$	66

Our operating lease assets and liabilities decreased from year end 2019 primarily due to releasing five of our leased drilling rigs as a result of the current economic environment. Our remaining two leased drilling rigs have been cold stacked and were included with our proved properties in our impairment assessment as discussed in Note 14 Asset Impairments. These right-of-use assets were determined to not be impaired as of March 31, 2020.

LEASES

Balance sheet information related to our operating and finance leases as of March 31, 2020 and December 31, 2019 was as follows:



	Balance Sheet Location	March 31, 2020		December 31, 2019
		(in millions)
Right-of-Use Assets
Operating lease, net	Other assets	$	46	$	59
Finance lease, net	PP&E	—		2
Total right-of-use assets		$	46	$	61

Lease Liabilities
Current
Operating lease	Accrued liabilities	$	18	$	27
Finance lease	Accrued liabilities	1		1
Long-term
Operating lease	Other long-term liabilities	35		37
Finance lease	Other long-term liabilities	1		1
Total lease liabilities		$	55	$	66