Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases

Summary of finance leases in condensed consolidated balance sheet

(Millions of dollars)
Finance lease right of use assets, net	Property, plant and equipment, net	$	50
Finance lease liabilities	Other current liabilities		5
Non-current finance lease liabilities	Other liabilities		40

Summary of components of lease costs

(Millions of dollars)
Operating lease cost	$	138
Finance lease cost:
Amortization of right of use assets		3
Interest on lease liabilities		1
Variable lease cost		7
Short-term lease cost		48
Total lease cost	$	197

Summary of maturities of lease liabilities

		Operating		Finance
(Millions of dollars)		Leases		Leases
2020	$	130	$	7
2021		113		7
2022		84		7
2023		58		7
2024		48		7
Thereafter		164		26
Total undiscounted lease payments		597		61
Less imputed interest		(114)		(16)
Total lease liability	$	483	$	45

Schedule of commitments as of December 31, 2018

Below is Seaboard’s commitments table as of December 31, 2018 that disclosed operating lease payments for the next five years and thereafter. Seaboard had no material capital leases as of December 31, 2018.

	Years ended December 31,
(Millions of dollars)	2019		2020		2021		2022		2023		Thereafter
Ports	$	18	$	18	$	19	$	19	$	20	$	109
Vessel, time and voyage-charters		58		27		26		13		8		25
Contract grower agreements		47		41		37		27		18		61
Other operating lease payments		18		13		9		8		6		15
Total unrecognized non-cancelable commitments	$	141	$	99	$	91	$	67	$	52	$	210