Leases (Tables)

3 Months Ended

Mar. 29, 2019

Leases [Abstract]

Components of Lease Expenses

The components of the Company's lease expense are presented in the table below.

	First Quarter Ended
	March 29, 2019
	(in millions)
Operating lease cost	$	29
Short-term and equipment lease cost	1
Variable lease cost	4
Sublease income	(1		)
Net lease cost	$	33

Supplemental operating lease balance sheet information is presented in the table below.

	March 29, 2019
	(in millions)
Operating lease right-of-use assets	$	618
Other current liabilities	$	74
Operating lease liabilities	569
Total operating lease liabilities	$	643

Other supplemental information related to the Company's leases is presented in the table below.

	First Quarter Ended
(in millions, except lease term and discount rate)	March 29, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	33
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3

Weighted average remaining lease term - operating leases (in years)	10.9
Weighted average discount rate - operating leases	4.4	%

Operating Lease, Future Minimum Lease Payments

The following table presents future lease payments under non-cancelable leases as of March 29, 2019.

	Operating Leases
	March 29, 2019
	(in millions)
2019	$	76
2020	91
2021	81
2022	73
2023	64
Thereafter	437
Total future lease payments required	822
Less: imputed interest	179
Total	$	643

Future Minimum Lease Payments under ASC 840

As discussed in Note 2, the Company has adopted ASC 842 using the optional transition method presenting prior period amounts and disclosures under ASC 840. The following presents the Company's future minimum lease payments for operating leases under ASC 840 at December 31, 2018.

	Operating Leases
	December 31, 2018
	(in millions)
2019	$	115
2020	134
2021	82
2022	73
2023	65
Thereafter	506
Total minimum payments required	975
Sublease rentals under non-cancelable leases	(7		)
Net minimum payments required	$	968