Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

10. Leases

We have facilities, vehicles and equipment under various non-cancellable operating leases with third parties. These leases generally have remaining terms ranging from 1 to 14 years, inclusive of renewal options that are reasonably certain of exercise.

Supplemental information for operating leases is as follows:

(MILLIONS OF DOLLARS, EXCEPT LEASE TERM AND DISCOUNT RATE AMOUNTS)	As of December 31, 2020			As of December 31, 2019
Supplemental Balance Sheet information for operating leases
Operating lease right of use assets	$	192		$	189
Operating lease liabilities
Operating lease liabilities - current (in Other current liabilities)	$	40		$	35
Operating lease liabilities - noncurrent	163			164
Total operating lease liabilities	$	203		$	199
Weighted-average remaining lease term—operating leases (years)	6.59			7.12
Weighted-average discount rate—operating leases	3.12		%	3.67		%
(MILLIONS OF DOLLARS)	Year Ended December 31, 2020			Year Ended December 31, 2019
Supplemental Income Statement information for operating leases
Operating lease expense	$	46		$	40
Variable lease payments not included in the measurement of lease liabilities	20			21
Short-term lease payments not included in the measurement of lease liabilities	7			9
Supplemental Cash Flow information for operating leases
Cash paid for amounts included in the measurement of lease liabilities	$	42		$	42
Lease obligations obtained in exchange for right-of-use assets (non-cash)	47			241

Future minimum lease payments under non-cancellable operating lease contracts as of December 31, 2020 are as follows:

													Total		Less:
											After		Lease		Imputed
(MILLIONS OF DOLLARS)	2021		2022		2023		2024		2025		2025		Payments		Interest		Total
Maturities	$	46	$	39	$	32	$	27	$	21	$	57	$	222	$	(19)	$	203

Total rent expense, net of sublease rental income, in accordance with the superceded leasing standard, was approximately $45 million in 2018.