Leases (Tables)

6 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Lease Costs

The following table summarizes the components of lease cost:

	Three Months Ended December 31,		Six Months Ended December 31,
(in millions)	2019		2019
Operating lease cost	$	30	$	61
Finance lease cost
Amortization of right-of-use assets	4		8
Total finance lease cost	4		8
Variable lease cost(1)	11		12
Total lease cost	$	45	$	81

(1)

Primarily includes payments for property taxes, maintenance and insurance.

Leases Supplemental Balance Sheet Information

The following table summarizes supplemental balance sheet information related to leases:

(in millions)	December 31, 2019
Operating Leases
Operating lease right-of-use assets	$	404
Current portion of operating lease liabilities	102
Long-term operating lease liabilities	324
Total operating lease liabilities	426
Finance Leases
Finance lease right-of-use assets	14
Current portion of finance lease liabilities	4
Long-term finance lease liabilities	11
Total finance lease liabilities	$	15

Leases Supplemental Cash Flow Information

The following tables summarizes supplemental cash flow information related to leases:

	Six Months Ended December 31,
(in millions)	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	61
Financing cash flows paid for finance leases	3
Non-cash right-of-use assets obtained in exchange for lease obligations:
New operating leases	54
New finance leases	17
Amended lease standard adoption impact as of July 1, 2019 (1)	400

(1)

Includes the effect of $22 million from reclassifying deferred rent as an offset to the lease right-of-use asset in accordance with the transition guidance.

Schedule of Future Lease Payments

Future lease payments under non-cancellable leases as of December 31, 2019 were as follows:

(in millions)	Operating Leases		Finance Leases		Total
Years Ending December 31,
Remainder of 2020	$	59	$	2	$	61
2021	108		6		114
2022	89		4		93
2023	67		4		71
2024	47		1		48
Thereafter	166		—		166
Total future lease payments	536		17		553
Less: leases not yet commenced (1)	61		—		61
Less: imputed interest	49		2		51
Total lease liabilities	$	426	$	15	$	441

(1)

As of December 31, 2019, we had certain leases that were executed but did not have control of the underlying assets; therefore, the lease liabilities and right-of-use assets are not recorded in the condensed consolidated balance sheets.