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LEASES (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents lease expense we have recorded on our consolidated statements of operations for the year ended December 31, 2019 (in millions):



	2019
Finance lease expense:
Amortization of finance lease asset	$	3
Interest on lease liabilities	4
Total finance lease expense	7
Operating lease expense (a)	47
Total lease expense	$	54

(a)

Includes variable and short-term lease expense of $5 million and $1 million, respectively, for the year ended December 31, 2019.

The following table presents other information related to leases for the year ended December 31, 2019 (in millions):



	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	38
Operating cash flows from finance leases	4
Financing cash flows from finance leases	5
Leased assets obtained in exchange for new lease liabilities	35

Maturity of Finance Leases

The following table summarizes our outstanding operating and finance lease obligations as of December 31, 2019 (in millions):



	Operating Leases			Finance Leases			Total
2020	$	51		$	8		$	59
2021	43			8			51
2022	33			7			40
2023	30			7			37
2024	24			6			30
2025 and thereafter	158			16			174
Total undiscounted obligations	339			52			391
Less imputed interest	(84		)	(14		)	(98		)
Present value of lease obligations	$	255		$	38		$	293

Maturity of Operating Leases

The following table summarizes our outstanding operating and finance lease obligations as of December 31, 2019 (in millions):



	Operating Leases			Finance Leases			Total
2020	$	51		$	8		$	59
2021	43			8			51
2022	33			7			40
2023	30			7			37
2024	24			6			30
2025 and thereafter	158			16			174
Total undiscounted obligations	339			52			391
Less imputed interest	(84		)	(14		)	(98		)
Present value of lease obligations	$	255		$	38		$	293

Future minimum payments under operating leases

Future minimum payments under operating leases as of December 31, 2018 were as follows (in millions):



2019	$	32
2020	31
2021	30
2022	27
2023	24
2024 and thereafter	158
Total	$	302

Supplemental Balance Sheet Information

The following table summarizes supplemental balance sheet information related to leases as of December 31, 2019 (in millions, except lease term and discount rate):



	Operating Leases			Finance Leases
Lease assets, non-current	$	223		$	14		(a)

Lease liabilities, current	$	38		$	5
Lease liabilities, non-current	217			33
Total lease liabilities	$	255		$	38

Weighted average remaining lease term (in years)	9.55			7.18
Weighted average discount rate	5.7		%	8.8		%

(a)

Finance lease assets are reflected in property and equipment, net on our consolidated balance sheets.