Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost [Table Text Block]

The components of our operating and finance lease expense are as follows for the year ended December 31, 2019 (in millions):

	December 31, 2019
Operating Leases
Operating lease expense	$	46
Finance Leases
Amortization of the right-of-use assets	8
Interest expense	8
Finance lease expense	$	16
Variable lease expense	9
Total lease expense	$	71

Finance Lease, Liability, Maturity [Table Text Block]

The following is a schedule by year of future minimum lease payments associated with our operating and finance leases together with the present value of the net minimum lease payments as of December 31, 2019 (in millions):

	Operating Leases(1)		Finance Leases(2)
2020	$	21	$	16
2021	22		16
2022	20		15
2023	19		19
2024	18		8
Thereafter	185		26
Total minimum lease payments	285		100
Less: Amount representing interest	103		27
Total lease obligation	182		73
Less: current lease obligation	12		10
Long-term lease obligation	$	170	$	63

____________

(1) The lease liabilities associated with our operating leases as of December 31, 2019 are included in other current liabilities and other long-term liabilities on our Consolidated Balance Sheet.

(2) The lease liabilities associated with our finance leases as of December 31, 2019 are included in debt, current portion and debt, net of current portion on our Consolidated Balance Sheet.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following is a schedule by year of future minimum lease payments associated with our operating and finance leases together with the present value of the net minimum lease payments as of December 31, 2019 (in millions):

	Operating Leases(1)		Finance Leases(2)
2020	$	21	$	16
2021	22		16
2022	20		15
2023	19		19
2024	18		8
Thereafter	185		26
Total minimum lease payments	285		100
Less: Amount representing interest	103		27
Total lease obligation	182		73
Less: current lease obligation	12		10
Long-term lease obligation	$	170	$	63

____________

(1) The lease liabilities associated with our operating leases as of December 31, 2019 are included in other current liabilities and other long-term liabilities on our Consolidated Balance Sheet.

(2) The lease liabilities associated with our finance leases as of December 31, 2019 are included in debt, current portion and debt, net of current portion on our Consolidated Balance Sheet.

Supplemental Balance Sheet Info Lessee [Table Text Block]

Supplemental balance sheet information related to our operating and finance leases is as follows as of December 31, 2019 (in millions, except lease term and discount rate):

	December 31, 2019
Operating leases(1)
Right-of-use assets associated with operating leases	$	171
Finance leases(2)
Property, plant and equipment, gross	212
Accumulated amortization	(105		)
Property, plant and equipment, net	$	107
Weighted average remaining lease term (in years)
Operating leases	17.5
Finance leases	6.8
Weighted average discount rate
Operating leases	5.1		%
Finance leases	8.0		%

____________

(1) The right-of-use assets associated with our operating leases as of December 31, 2019 are included in other assets on our Consolidated Balance Sheet.

(2) The right-of-use assets associated with our finance leases as of December 31, 2019 are included in property, plant and equipment, net on our Consolidated Balance Sheet.

Supplemental Cash Flow Lessee [Table Text Block]

Supplemental cash flow information related to our operating and finance leases is as follows for the period presented (in millions):

	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	54
Operating cash flows from finance leases	$	8
Financing cash flows from finance leases	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	14
Finance leases	$	—

Lease Cost - Lessor [Table Text Block]

Revenue recognized related to fixed lease payments on our operating leases for the period presented is as follows (in millions):

	2019
Operating Leases(1)
Fixed lease payments	$	341

____________

(1) Revenues associated with our operating leases are included in Commodity revenue and other revenue on our Consolidated Statement of Operations.

	December 31, 2019
Assets subject to contracts accounted for as operating leases
Property, plant and equipment, gross	$	2,561
Accumulated depreciation	(770		)
Property, plant and equipment, net(1)	$	1,791

____________

(1) Our assets subject to contracts that are accounted for as operating leases primarily consist of our power plants subject to tolling contracts.

Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]

The total contractual future minimum lease rentals for our contracts that have commenced and are accounted for as operating leases at December 31, 2019, are as follows (in millions):

2020	$	286
2021	261
2022	226
2023	144
2024	50
Thereafter	236
Total	$	1,203

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The total contractual future minimum lease rentals for our contracts accounted for as operating leases at December 31, 2018, are as follows (in millions):

2019	$	342
2020	261
2021	257
2022	224
2023	141
Thereafter	239
Total	$	1,464

Lessee

The following is a schedule by year of future minimum lease payments under operating and capital leases as of December 31, 2018 (in millions):

	Operating Leases(1)		Capital Leases(2)
2019	$	50	$	40
2020	19		40
2021	20		38
2022	18		33
2023	17		27
Thereafter	192		92
Total minimum lease payments	$	316	270
Less: Amount representing interest			89
Present value of net minimum lease payments			$	181

____________

(1) During the years ended December 31, 2018 and 2017, expense for operating leases amounted to $53 million and $50 million, respectively.

(2) Includes a failed sale-leaseback transaction related to our Pasadena Power Plant.

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following is a schedule by year of future minimum lease payments under operating and capital leases as of December 31, 2018 (in millions):

	Operating Leases(1)		Capital Leases(2)
2019	$	50	$	40
2020	19		40
2021	20		38
2022	18		33
2023	17		27
Thereafter	192		92
Total minimum lease payments	$	316	270
Less: Amount representing interest			89
Present value of net minimum lease payments			$	181

____________

(1) During the years ended December 31, 2018 and 2017, expense for operating leases amounted to $53 million and $50 million, respectively.

(2) Includes a failed sale-leaseback transaction related to our Pasadena Power Plant.