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Leases - (Notes) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases | LEASES Our leasing activities predominantly consist of leasing office space that we occupy, which we have classified as operating leases. Our leases are comprised of fixed payments with remaining lease terms of 1 to 9 years, some of which include options to extend for up to 15 years. As of September 30, 2019, we have not included any options to extend or cancel in the calculation of our lease liability or ROU asset. We do not have any significant residual value guarantees or restrictive covenants in our leases. During the third quarter of 2019, we recognized operating lease expense of $5 million and we recognized $14 million during the nine months ended September 30, 2019. During the third quarter of 2019, we paid $4 million to reduce operating lease liabilities and $13 million during the nine months ended September 30, 2019. During the third quarter of 2019, we recognized $4 million in new operating lease liabilities in exchange for ROU assets and we recognized $21 million during the nine months ended September 30, 2019. As of September 30, 2019, the weighted average remaining lease term on our operating leases was 6.2 years. Future minimum lease payments as of September 30, 2019 and December 31, 2018 were as follows:
(in millions) | September 30, 2019 (2) | December 31, 2018 (3)
2019(1) | $ | 5 |  | $ | 18 |
2020 | 19 |  | 17 |
2021 | 11 |  | 11 |
2022 | 10 |  | 9 |
2023 | 9 |  | 8 |
2024 | 6 |  | 5 |
2025 and thereafter | 19 |  | 20 |
Total future minimum lease payments | $ | 79 |  | $ | 88 |
Less: imputed interest | (10 | ) | N/A(4) |
Total operating lease liabilities | 69 |  | N/A(4) |
Current portion | 17 |  | N/A(4) |
Non-current portion | 52 |  | N/A(4) |
(1) The remaining payments as of September 30, 2019 exclude those made during the nine months ended September 30, 2019.
(2) | Presented in accordance with ASC 842.
(3) Presented in accordance with ASC 840. (4) N/A - Not Applicable under ASC 840.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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