LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Expense

The following table presents lease expense we have recorded in our consolidated statements of operations for the years ended December 31, 2020 and December 31, 2019 (in millions):

	2020		2019
Finance lease expense:
Amortization of finance lease asset	$	3	$	3
Interest on lease liabilities	4		4
Total finance lease expense	7		7
Operating lease expense (a)	64		47
Total lease expense	$	71	$	54

(a)Includes variable lease expense of $7 million and $5 million for the years ended December 31, 2020 and 2019, respectively, and short-term lease expense of $1 million for both the years ended December 31, 2020 and 2019.

The following table presents other information related to leases for the years ended December 31, 2020 and December 31, 2019 (in millions):

	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	55	$	38
Operating cash flows from finance leases	$	3	$	4
Financing cash flows from finance leases	$	5	$	5
Leased assets obtained in exchange for new operating lease liabilities	$	20	$	35
Leased assets obtained in exchange for new finance lease liabilities	$	6	$	—

Maturity of Finance Leases

The following table summarizes our outstanding operating and finance lease obligations as of December 31, 2020 (in millions):

	Operating Leases		Finance Leases		Total
2021	$	46	$	8	$	54
2022	36		8		44
2023	32		7		39
2024	26		6		32
2025	24		5		29
2026 and thereafter	142		19		161
Total undiscounted obligations	306		53		359
Less imputed interest	(74)		(15)		(89)
Present value of lease obligations	$	232	$	38	$	270

Maturity of Operating Leases

The following table summarizes our outstanding operating and finance lease obligations as of December 31, 2020 (in millions):

	Operating Leases		Finance Leases		Total
2021	$	46	$	8	$	54
2022	36		8		44
2023	32		7		39
2024	26		6		32
2025	24		5		29
2026 and thereafter	142		19		161
Total undiscounted obligations	306		53		359
Less imputed interest	(74)		(15)		(89)
Present value of lease obligations	$	232	$	38	$	270

Supplemental Balance Sheet Information

The following table summarizes supplemental balance sheet information related to leases as of December 31, 2020 and December 31, 2019 (in millions, except lease term and discount rate):

	2020							2019
	Operating Leases			Finance Leases				Operating Leases			Finance Leases
Lease assets, non-current	$	197		$	17		(a)	$	223		$	14		(a)
Lease liabilities, current	34			5				38			5
Lease liabilities, non-current	198			33				217			33
Total lease liabilities	$	232		$	38			$	255		$	38
Weighted average remaining lease term (in years)	9.39			8.39				9.55			7.18
Weighted average discount rate	5.7		%	8.4		%		5.7		%	8.8		%

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