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Leases (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Summary of right of use asset and lease liability balances for operating and finance leases
The following tables summarize the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at March 31, 2022 and December 31, 2021:
March 31, 2022December 31, 2021
(in millions)Operating LeasesFinance LeasesOperating LeasesFinance Leases
ROU assets, net
Pipeline and storage$16 $22 $17 $23 
Railcars5 — 6 — 
Real estate and other13 17 14 18 
Lease liability
Pipelines and storage$17 $34 $17 $35 
Railcars5 — 6 — 
Real estate and other13 19 14 19 
Lease expense, lease terms, and discount rates For the three months ended March 31, 2022 and 2021, we recognized lease expense comprised of the following components:
Three Months Ended
March 31,
(in millions)20222021
Operating lease expense$4 $4 
Finance lease expense:
Amortization of ROU asset$2 $2 
Interest expense on lease liability1 1 
Short-term lease expense$2 $2 
The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities:
March 31, 2022December 31, 2021
Operating LeasesFinance LeasesOperating LeasesFinance Leases
Weighted-average remaining lease term4.1 years7.0 years4.1 years7.2 years
Weighted-average discount rate5.3 %9.0 %5.4 %9.0 %
Summary of remaining minimum lease payments for operating leases
The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at March 31, 2022:
(in millions)Operating LeasesFinance Leases
Remainder of 2022$11 $9 
202312 10 
20248 10 
20253 10 
20261 10 
Thereafter4 23 
Total lease payments39 72 
Less: imputed interest(4)(19)
Total lease liability$35 $53 
Summary of remaining minimum lease payments for finance leases
The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at March 31, 2022:
(in millions)Operating LeasesFinance Leases
Remainder of 2022$11 $9 
202312 10 
20248 10 
20253 10 
20261 10 
Thereafter4 23 
Total lease payments39 72 
Less: imputed interest(4)(19)
Total lease liability$35 $53