Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases

Summary of components of lease expense

Lease Cost	Three Months Ended March 31,		Three Months Ended March 31,
(in millions)	2020		2019
Operating lease cost	$	13	$	13
Variable operating lease cost		8		6
Short term lease cost		1		—
Lease cost	$	22	$	19

Reconciliation of future undiscounted cash flows to the operating lease liabilities and the related ROU assets

Operating Leases		As of
(in millions)		March 31, 2020
2020 (Excluding the three months ended March 31, 2020)	$	37
2021		40
2022		32
2023		24
2024		16
Thereafter		33
Total future lease payments		182
Less imputed interest		27
Present value of future lease payments		155
Less current lease liabilities		40
Non-current operating lease liabilities	$	115
Operating lease assets	$	147

Summary of other lease information

Other Information	Three Months Ended March 31,			Three Months Ended March 31,
($ in millions)	2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13		$	15
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	8		$	161
	As of			As of
	March 31, 2020			December 31, 2019
Weighted average remaining lease term:
Operating leases		5.4 years			5.5 years
Weighted average discount rate:
Operating leases		5.6	%		5.7	%