Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Lease, Cost [Table Text Block]
The table below presents certain information related to the lease costs for finance and operating leases (in millions):
Three Months Ended Nine Months Ended
September 30, September 30,
2021 2020 2021 2020
Operating lease cost $ $ $ 17  $ 24 
Short-term lease cost $ $ $ 10  $ 11 
Finance lease cost:
Amortization of right-of-use assets $ $ $ $
Interest on lease liabilities —  —  —  — 
Total finance lease cost $ $ $ $
Leases, Assets and Liabilities [Table Text Block]
The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets:
Balance Sheet Classification September 30, 2021 December 31, 2020
Operating leases (in millions):
Operating lease right-of-use assets Other assets $ 82  $ 92 
Operating lease liabilities Accrued expenses and other liabilities $ 141  $ 157 
Finance leases (in millions):
Finance lease assets (a)
Property and equipment, net $ $
Finance lease liabilities Debt $ $
Weighted average remaining lease term:
Operating leases 6.6 years 7.1 years
Finance leases 2.5 years 2.6 years
Weighted average discount rate:
Operating leases (b)
5.8  % 5.9  %
Finance leases 4.7  % 5.6  %
(a)Presented net of accumulated depreciation.
(b)Upon adoption of the new lease standard, discount rates used for existing leases were established at January 1, 2019.
Leases, Cash Flow Presentation [Table Text Block]
The table below presents supplemental cash flow information related to leases (in millions):
Nine Months Ended
September 30,
2021 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 28  $ 28 
Operating cash flows from finance leases —  — 
Financing cash flows from finance leases
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ $
Finance leases
Leases, Liability Maturity [Table Text Block]
The table below presents maturities of lease liabilities as of September 30, 2021 (in millions):
Operating Leases Finance
Leases
Three months ending December 31, 2021 $ $
2022 31 
2023 29 
2024 28 
2025 24  — 
Thereafter 50  — 
Total minimum lease payments 170 
Less: Amount of lease payments representing interest (29) (1)
Present value of future minimum lease payments $ 141  $