LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2019

The Company has operating leases, substantially all of which relate to the lease of office space. The Company's leases which are classified as finance leases are not material to the consolidated financial statements. Certain of the Company's leases include options to renew, with renewal terms that can extend the lease from one to 20 years at the Company's discretion.

The following table presents the components of the Company’s lease cost:


	Year Ended December 31, 2019

Operating lease cost	$	97

Sublease income	(2)
Variable lease cost	17
Total lease cost	$	112

During the second quarter of 2019, the Company recorded $25 million of ROU Asset impairment charges related to the exit of certain real estate leases. The impairment charges were recorded within Restructuring expense on the consolidated statement of operations. Refer to Note 12 for further details.

The following tables present other information related to the Company’s operating leases:


	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	106
Right-of-use assets obtained in exchange for new operating lease liabilities	$	41


	December 31, 2019
Weighted-average remaining lease term	6.8 years
Weighted-average discount rate applied to operating leases	3.6	%

The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at December 31, 2019:


Year Ending December 31,	Operating Leases
2020	$	107
2021	103
2022	91
2023	85
2024	79
Thereafter	183
Total lease payments (undiscounted)	648
Less: Interest	74
Present value of lease liabilities:	$	574
Lease liabilities - current	$	89
Lease liabilities - noncurrent	$	485

The minimum rent for operating leases at December 31, 2018 is as follows:


Year Ending December 31,	Operating Leases
2019	$	106
2020	102
2021	96
2022	84
2023	81
Thereafter	247
Total minimum lease payments	$	716