Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases

Summary of components of lease expense

	Three Months Ended
Lease Cost	March 31,
(in millions)	2021		2020
Operating lease cost	$	14	$	13
Variable operating lease cost		7		8
Short term lease cost		1		1
Lease cost	$	22	$	22

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

Operating Leases		As of
(in millions)		March 31, 2021
2021 (Excluding the three months ended March 31, 2021)	$	39
2022		45
2023		35
2024		25
2025		17
Thereafter		53
Total future lease payments		214
Less imputed interest		24
Present value of future lease payments		190
Less current lease liabilities		45
Non-current operating lease liabilities	$	145
Operating lease assets	$	182

Summary of other lease information

	Three Months Ended
Other Information	March 31,
($ in millions)	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	14		$	13
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	21		$	8
	As of			As of
	March 31, 2021			December 31, 2020
Weighted average remaining lease term:
Operating leases		6.3 years			5.5 years
Weighted average discount rate:
Operating leases		4.6	%		4.9	%