Leases

Our global lease portfolio represents leases of real estate, including manufacturing, assembly and office facilities, while the remainder represents leases of personal property, including manufacturing, material handling and IT equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. Short term lease costs were insignificant in the three months ended March 31, 2019. We account for lease components separately from the non-lease components of each lease arrangement.

Our leases generally have remaining lease terms of 1 year to 11 years, some of which include options to extend the leases for up to 7 years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet.

Components of lease expense —



	Three Months Ended March 31, 2019
Operating lease cost	$	12
Finance lease cost:
Amortization of right-of-use assets	$	1
Interest on lease liabilities	—
Total finance lease cost	$	1

Supplemental cash flow information related to leases —



	Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12
Operating cash flows from finance leases	—
Financing cash flows from finance leases	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	6
Finance leases	10

Supplemental balance sheet information related to leases —



	March 31, 2019
Weighted-average remaining lease term (years):
Operating leases	10
Finance leases	6
Weighted-average discount rate:
Operating leases	4.0	%
Finance leases	6.0	%

Maturities —



	Operating Leases		Finance Leases
Remainder of 2019	$	37	$	4
2020	44		4
2021	37		4
2022	27		4
2023	20		3
Thereafter	57		15
Total lease payments	222		34
Less: interest	36		5
Present value of lease liabilities	$	186	$	29

As of March 31, 2019 we have operating lease payments that have not yet commenced of approximately $8 . This lease is expected to commence in July 2019.

Disclosures related to periods prior to adoption of ASU 2016-02 —

Cash obligations under future minimum rental commitments under operating leases as of December 31, 2018 are shown in the table below. Operating lease commitments are primarily related to facilities.



	2019		2020		2021		2022		2023		Thereafter		Total
Lease commitments	$	57	$	41	$	35	$	27	$	21	$	64	$	245

Classification

March 31, 2019

Finance lease right-of-use assets

Property, plant and equipment, net

Finance lease liabilities

Current portion of long-term debt

Finance lease liabilities

Long-term debt