Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Assets and liabilities of leases

The tables below present financial information associated with our leases as of June 30, 2020 and December 31, 2019, and for the three and six months ended June 30, 2020 and 2019.

	Classification	June 30, 2020		December 31, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	666	$	669
Finance lease assets	Rental equipment	292		286
	Less accumulated depreciation	(88)		(89)
	Rental equipment, net	204		197
	Property and equipment, net:
	Non-rental vehicles	8		8
	Buildings	18		18
	Less accumulated depreciation and amortization	(9)		(15)
	Property and equipment, net	17		11
Total leased assets		887		877
Liabilities
Current
Operating	Accrued expenses and other liabilities	174		178
Finance	Short-term debt and current maturities of long-term debt	53		58
Long-term
Operating	Operating lease liabilities	532		533
Finance	Long-term debt	87		69
Total lease liabilities		$	846	$	838

Lease, cost

Lease term and discount rate	June 30, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	4.8		4.8
Finance leases	3.1		3.2
Weighted-average discount rate
Operating leases	4.5	%	4.7	%
Finance leases	3.7	%	4.0	%

Other information	Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	104	$	102
Operating cash flows from finance leases	6		3
Financing cash flows from finance leases	26		22
Leased assets obtained in exchange for new operating lease liabilities	92		104
Leased assets obtained in exchange for new finance lease liabilities	$	39	$	17

Lessee, operating lease, liability, maturity

Maturity of lease liabilities (as of June 30, 2020)	Operating leases (1)		Finance leases (2)
2020	$	105	$	28
2021	192		58
2022	158		33
2023	124		22
2024	90		3
Thereafter	132		5
Total	801		149
Less amount representing interest	(95)		(9)
Present value of lease liabilities	$	706	$	140

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(1) Reflects payments for non-cancelable operating leases with initial or remaining terms of one year or more as of June 30, 2020. The table above does not include any legally binding minimum lease payments for leases signed but not yet commenced, and such leases are not material in the aggregate.

(2) The table above does not include any legally binding minimum lease payments for leases signed but not yet commenced, and such leases are not material in the aggregate.

Finance lease, liability, maturity

Maturity of lease liabilities (as of June 30, 2020)	Operating leases (1)		Finance leases (2)
2020	$	105	$	28
2021	192		58
2022	158		33
2023	124		22
2024	90		3
Thereafter	132		5
Total	801		149
Less amount representing interest	(95)		(9)
Present value of lease liabilities	$	706	$	140

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(1) Reflects payments for non-cancelable operating leases with initial or remaining terms of one year or more as of June 30, 2020. The table above does not include any legally binding minimum lease payments for leases signed but not yet commenced, and such leases are not material in the aggregate.

(2) The table above does not include any legally binding minimum lease payments for leases signed but not yet commenced, and such leases are not material in the aggregate.