LEASES

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

LEASES

LEASES

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 term from one year to 20 years at the Company’s discretion.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease cost	$	24	$	24	$	48	$	49
Sublease income	(1)		—		(2)		—
Variable lease cost	5		4		10		8
Total lease cost	$	28	$	28	$	56	$	57

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	27	$	27	$	53	$	53
Right-of-use assets obtained in exchange for new operating lease liabilities	$	11	$	7	$	20	$	16

	June 30, 2020		June 30, 2019
Weighted-average remaining lease term	6.5 years		7.3 years
Weighted-average discount rate applied to operating leases	3.6	%	3.6	%

The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at June 30, 2020:

Year Ending December 31,	Operating Leases
2020 (After June 30)	$	54
2021	105
2022	93
2023	87
2024	80
After 2024	188
Total lease payments (undiscounted)	607
Less: Interest	66
Present value of lease liabilities:	$	541
Lease liabilities - current	$	90
Lease liabilities - noncurrent	$	451