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Leases (Tables)

9 Months Ended

Sep. 30, 2019

The following table details the amounts and locations of lease assets and liabilities on the condensed consolidated balance sheet:



Leases	Balance Sheet Classification	September 30, 2019
Assets
Operating lease assets	Other assets	$	596
Liabilities
Operating lease liabilities	Accrued expenses and other liabilities	$	665

Schedule of Lease Cost and Lease Term and Discount Rate

The components of lease expense are as follows:



Lease Cost	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost ⁽¹⁾	$	34	$	100
Variable lease cost ⁽²⁾	8		25

⁽¹⁾Includes short-term leases, which are immaterial.

⁽²⁾Includes payments that are entirely variable and amounts that represent the difference between payments based on an index or rate that would be reflected in the lease liability and what is actually incurred.

The following tables present supplemental lease information as of September 30, 2019:



Lease Term and Discount Rate
Weighted-average remaining lease term (years)	7.18
Weighted-average discount rate	3.47	%

Schedule of Maturity of Lease Liabilities



Maturity of Lease Liabilities	Operating Leases ⁽¹⁾
2019	$	26
2020	136
2021	113
2022	92
2023	84
Thereafter	309
Total lease payments	760
Less: Interest	95
Present value of lease liabilities	$	665

⁽¹⁾Operating lease payments exclude $41 million of legally binding minimum lease payments for leases signed but not yet commenced. These leases will commence between 2019 and 2020 with lease terms of five years to 20 years.

Schedule of Maturity of Lease Liabilities, Before 842

In accordance with the disclosure requirements for our adoption of ASU 2016-02, the Company is presenting the operating leases commitment table as of December 31, 2018. The following table is unchanged from the disclosure in Note 14 in the 2018 Form 10-K:



	Operating Leases		Subleases		Net
2019	$	131	$	4	$	127
2020	125		4		121
2021	101		4		97
2022	79		2		77
2023	72		1		71
Thereafter	282		—		282
Total	$	790	$	15	$	775