v3.19.2

Leases (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Leases [Abstract] |
Minimum Future Lease Revenue on Non-Cancellable Operating Leases | Minimum Future Lease Revenue on Non-Cancellable Operating Leases (in millions)
| June 30, 2019 (a)
2019 | $ | 268 |
2020 | 535 |
2021 | 533 |
2022 | 533 |
2023 | 532 |
2024 and thereafter | 6,292 |
Total Minimum Lease Revenue | $ | 8,693 |
(a) | Includes minimum future lease revenue assuming all renewal option periods for each agreement are exercised.
Lease Liabilities Maturities | Lease Liabilities Maturities (in millions)
| Lease Obligations
| Operating |  | Finance
2019 | $ | 6 |  |  | $ | 2 |
2020 | 18 |  |  | 3 |
2021 | 15 |  |  | 2 |
2022 | 12 |  |  | 2 |
2023 | 12 |  |  | 2 |
2024 and thereafter | 102 |  |  | 4 |
Gross lease payments | 165 |  |  | 15 |
Less: imputed interest | (45 | ) |  | (2 | )
Total Lease Payments | $ | 120 |  |  | $ | 13 |
Components of Lease Expense | Components of Lease Expense (in millions)
| Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019
Operating lease cost | $ | 5 |  |  | $ | 8 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | 1 |  |  | 2 |
Interest on lease liabilities | 1 |  |  | 1 |
Total finance lease cost | 2 |  |  | 3 |
Variable lease cost | 2 |  |  | 3 |
Short-term lease cost | 9 |  |  | 15 |
Total Lease Cost | $ | 18 |  |  | $ | 29 |
Supplemental Balance Sheet Data | Supplemental Balance Sheet Data (in millions, except lease term and discount rates)
| June 30, 2019
Operating Leases |
Right of use assets included in other noncurrent assets, net | $ | 121 |
Operating lease liabilities included in other current liabilities | $ | 12 |
Long-term operating lease liabilities included in other noncurrent liabilities | 108 |
Total Operating Lease Liabilities | $ | 120 |
Weighted average remaining lease term | 13 years |
Weighted average discount rate | 4.83 | %
Finance Leases |
Property, plant and equipment, gross | $ | 25 |
Accumulated depreciation | (14 | )
Property, Plant and Equipment, Net | $ | 11 |
Debt due within one year | $ | 3 |
Long-term debt | 10 |
Total Finance Lease Liabilities | $ | 13 |
Weighted average remaining lease term | 5 years |
Weighted average discount rate | 5.88 | %
Investments in Assets Held for Operating Leases | Investment in Assets Held for Operating Leases (in millions)
| June 30, 2019 |  | December 31, 2018
Terminals and related assets | $ | 847 |  |  | $ | 778 |
Pipelines | 110 |  |  | 110 |
Land and leasehold improvements | 29 |  |  | 28 |
Construction in progress | 21 |  |  | 15 |
Property, plant and equipment, at cost | 1,007 |  |  | 931 |
Accumulated depreciation | (262 | ) |  | (238 | )
Property, Plant and Equipment, Net | $ | 745 |  |  | $ | 693 |

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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 long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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- Definition Tabular disclosure of lessor's property under leasing agreements and property available for lease (not currently under lease) by property class, the gross amount, accumulated depreciation and net amount of as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=84164653&loc=d3e41551-112718 + Details
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