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v3.19.1

Leases (Tables) | 3 Months Ended
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Mar. 30, 2019
Leases |
Summary of maturities of operating lease liabilities | Maturities of operating lease liabilities as of March 30, 2019 were as follows:
(Millions of dollars) |  |  |
Remainder of 2019 |  | $ | 99 |
2020 |  |  | 110 |
2021 |  |  | 97 |
2022 |  |  | 72 |
2023 |  |  | 51 |
Thereafter |  |  | 205 |
Total undiscounted lease payments |  |  | 634 |
Less imputed interest |  |  | (130) |
Total operating lease liability |  | $ | 504 |
Schedule of commitments as of December 31, 2018 | Below is Seaboard’s commitments table as of December 31, 2018, that disclosed operating lease payments for the next five years and thereafter. Seaboard had no material capital leases as of December 31, 2018.
|  | Years ended December 31, |  |  |  |
(Millions of dollars) |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | Thereafter |
Ports |  | $ | 18 |  | $ | 18 |  | $ | 19 |  | $ | 19 |  | $ | 20 |  | $ | 109 |
Vessel, time and voyage-charters |  |  | 58 |  |  | 27 |  |  | 26 |  |  | 13 |  |  | 8 |  |  | 25 |
Contract grower agreements |  |  | 47 |  |  | 41 |  |  | 37 |  |  | 27 |  |  | 18 |  |  | 61 |
Other operating lease payments |  |  | 18 |  |  | 13 |  |  | 9 |  |  | 8 |  |  | 6 |  |  | 15 |
Total unrecognized non-cancelable commitments |  | $ | 141 |  | $ | 99 |  | $ | 91 |  | $ | 67 |  | $ | 52 |  | $ | 210 |
Summary of components of lease costs |
(Millions of dollars) |  |  |  |
Operating lease cost |  |  | $ | 33 |
Variable lease cost |  |  |  | 3 |
Short-term lease cost |  |  |  | 10 |
Total lease cost |  |  | $ | 46 |

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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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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable components of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77896938&loc=d3e25336-109308 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77896938&loc=d3e25287-109308 + Details
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