Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lease Related Assets and Liabilities

The following schedule presents lease-related assets and liabilities, their weighted average remaining life, and the weighted average discount rate.

(Dollar amounts in millions)	September 30, 2020			December 31, 2019
Operating assets and liabilities
Operating right-of-use assets, net of amortization	$	217		$	218
Operating lease liabilities	246			246
Weighted average remaining lease term (years)
Operating leases	9.0			9.1
Finance leases	19.5			20.2
Weighted average discount rate
Operating leases	3.0		%	3.2		%
Finance leases	3.1		%	3.1		%

Lease Expense

The components of lease expense are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020		2019
Operating lease costs	$	12	$	12	$	37	$	36
Variable lease costs	12		14		36		40
Total lease cost	$	24	$	26	$	73	$	76

Supplemental cash flow information related to leases is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020		2019
Cash paid for amounts in the measurement of lease liabilities:
Operating cash disbursements from operating leases	$	13	$	13	$	38	$	37

ROU assets obtained in exchange for lease liabilities:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020		2019
New operating lease liabilities	$	—	$	6	$	6	$	10

Lease Maturity Analysis

Maturities analysis for operating lease liabilities as of September 30, 2020 is as follows (contractual undiscounted lease payments):

(In millions)
2020 1	$	12
2021	48
2022	44
2023	38
2024	29
Thereafter	116
Total	$	287

1 Contractual maturities for the three months remaining in 2020.