LEASES

12 Months Ended

Dec. 31, 2019

Right-of-use assets and lease liabilities associated with the Company's operating leases are included in the Consolidated Balance Sheet as of December 31, 2019 as follows:



(in millions)
Right-of-use assets included in:
Other non-current assets	$	271
Lease liabilities included in:
Accrued and other current liabilities	$	53
Other non-current liabilities	240
Total lease liabilities	$	293

As of December 31, 2019, the Company's finance leases were not material and for the year 2019 sub-lease income and short-term lease expense were not material. Lease expense for the year 2019 includes:



(in millions)
Operating lease costs	$	62
Variable operating lease costs	$	16

Other information related to operating leases for 2019 is as follows:



(dollars in millions)
Cash paid from operating cash flows for amounts included in the measurement of lease liabilities	$	73
Right-of-use assets obtained in exchange for new operating lease liabilities	$	47
Weighted-average remaining lease term	8.2 years
Weighted-average discount rate	6.2		%

Right-of-use assets obtained in exchange for new operating lease liabilities during the year ended December 31, 2019 of $47 million in the table above does not include $282 million of right-of-use assets recognized upon adoption of the new standard for accounting for leases on January 1, 2019. See Note 2, "SIGNIFICANT ACCOUNTING POLICIES" for further detail regarding the impact of adoption.

As of December 31, 2019, future payments under noncancelable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows:



(in millions)
2020	$	70
2021	55
2022	42
2023	37
2024	30
Thereafter	149
Total	383
Less: Imputed interest	90
Present value of remaining lease payments	293
Less: Current portion	53
Non-current portion	$	240

Upon adopting the new lease guidance, the Company elected the modified retrospective approach without revising prior periods. Accordingly, rental expense related to operating lease agreements was $92 million and $102 million for 2018 and 2017, respectively, and the Company is providing the following table of future payments under noncancelable operating leases as of December 31, 2018, for each of the five succeeding years ending December 31 and thereafter as previously disclosed under prior accounting guidance:



(in millions)	2019		2020		2021		2022		2023		Thereafter		Total
Future payments	$	78	$	60	$	44	$	39	$	32	$	166	$	419