Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table presents the components of lease cost:

	Third Quarter					First Nine Months
(in millions)	2020		2019			2020			2019
Operating lease cost	$	28	$	21		$	84		$	61
Finance lease cost
Amortization of right-of-use assets	12		17			34			37
Interest on lease liabilities	3		4			10			11
Variable lease cost(1)	6		8			19			22
Short-term lease cost	—		2			1			5
Sublease income	—		(1		)	(1		)	(2		)
Total lease cost	$	49	$	51		$	147		$	134

(1)

Variable lease cost primarily consists of common area maintenance costs, property taxes, and adjustments for inflation.

Supplemental Cash Flow Information for Leases [Table Text Block]

The following table presents supplemental cash flow information about the Company's leases:

	First Nine Months
(in millions)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	75	$	58
Operating cash flows from finance leases	11		11
Financing cash flows from finance leases	35		29

Schedule of Weighted Average Lease Disclosures [Table Text Block]

The following table presents information about the Company's weighted average discount rate and remaining lease term:

	September 30, 2020		December 31, 2019
Weighted average discount rate
Operating leases	4.4	%	4.6	%
Finance leases	4.9	%	5.1	%
Weighted average remaining lease term
Operating leases	12 years		10 years
Finance leases	11 years		12 years

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments for non-cancellable leases that have commenced and are reflected on the unaudited Condensed Consolidated Balance Sheets as of September 30, 2020 were as follows:

(in millions)	Operating Leases			Finance Leases
Remainder of 2020	$	22		$	14
2021	93			50
2022	82			45
2023	74			40
2024	72			37
2025	65			33
Thereafter	444			167
Total future minimum lease payments	852			386
Less: imputed interest	(187		)	(87		)
Present value of minimum lease payments	$	665		$	299

Finance Lease, Liability, Fiscal Year Maturity [Table Text Block]

Future minimum lease payments for non-cancellable leases that have commenced and are reflected on the unaudited Condensed Consolidated Balance Sheets as of September 30, 2020 were as follows:

(in millions)	Operating Leases			Finance Leases
Remainder of 2020	$	22		$	14
2021	93			50
2022	82			45
2023	74			40
2024	72			37
2025	65			33
Thereafter	444			167
Total future minimum lease payments	852			386
Less: imputed interest	(187		)	(87		)
Present value of minimum lease payments	$	665		$	299