Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Lease Assets and Lease Liabilities and their Balance Sheet Locations

The following table sets forth the Company’s lease assets and lease liabilities and their balance sheet locations at December 31, 2020 and 2019.

		December 31,
	Balance Sheet Location	2020		2019
Lease assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	236	$	294
Finance lease assets	Property, plant, and equipment, net (Note 13)		69		58
Total lease assets		$	305	$	352

Lease liabilities:
Current:
Operating lease liabilities	Other accrued liabilities (Note 19)	$	57	$	66
Finance lease liabilities	Short-term and current maturities of long-term debt (Note 20)		7		5
Total current lease liabilities			64		71
Non-current:
Operating lease liabilities	Operating lease liabilities		194		245
Finance lease liabilities	Long-term debt, net (Note 20)		67		54
Total non-current lease liabilities			261		299
Total lease liabilities		$	325	$	370

Schedule of Components of Company's Lease Cost

The following table sets forth the components of the Company’s lease cost for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020		2019
Operating lease cost	$	88	$	99
Short-term lease cost		5		5
Variable lease cost		20		16

Finance lease cost:
Amortization of lease assets		8		5
Interest on lease liabilities		4		2
Total lease cost	$	125	$	127

Schedule of Cash Flows Related to Company's Leases

The following table sets forth the cash flows related to the Company’s leases for the years ended December 31, 2020 and 2019.

	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	91	$	101
Operating cash flows from finance leases		4		2
Financing cash flows from finance leases		6		3

Non-cash lease liabilities activity:
Leased assets obtained in exchange for new operating lease liabilities	$	23	$	48
Leased assets obtained in exchange for new finance lease liabilities		19		62

Schedule of Weighted-Average Terms and Weighted-Average Discount Rates For Company's Leases

The following table sets forth the weighted-average terms and weighted-average discount rates for the Company’s leases at December 31, 2020 and 2019.

	December 31,
	2020			2019
Weighted-average remaining lease term (years):
Operating leases		8.6			8.5
Finance leases		7.9			9.2

Weighted-average discount rate:
Operating leases		5.00	%		5.10	%
Finance leases		5.40	%		5.90	%

Schedule of Company's Lease Liabilities' Maturities for Next Five Years and Thereafter

The following table sets forth the Company’s lease liabilities’ maturities for the next five years and thereafter.

	Operating Leases		Finance Leases		Total
2021	$	69	$	12	$	81
2022		52		11		63
2023		37		11		48
2024		30		11		41
2025		24		11		35
Thereafter		94		35		129
Total lease payments		306		91		397
Less: Imputed interest		55		17		72
Present value of lease liabilities	$	251	$	74	$	325

Summary of Future Minimum Lease Payments Related to Chemours Discovery Hub Financing Obligation

The following table sets forth the Company’s minimum future payments due for the next five years and thereafter related to the Chemours Discovery Hub financing obligation.

2021	$	6
2022		6
2023		7
2024		7
2025		7
Thereafter		154
Total payments	$	187