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Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
9 Months Ended
Sep. 30, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] Ìý
Schedule of cumulative effect of changes in consolidated financial statements

​

​

​

​

​

​

​

​

​

​

Balance at December 31, 2018

​

Adjustments due to ASC 842

​

Balance at January 1, 2019

​

​

in millions

Assets

​

​

​

​

​

​

​

Other current assets

$

360

​

(2)

​

358

​

Property and equipment, at cost

$

3,765

​

(371)

​

3,394

​

Accumulated depreciation

$

(1,296)

​

15

​

(1,281)

​

Other assets

$

1,861

​

396

​

2,257

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

Other current liabilities

$

49

​

32

​

81

​

Long-term debt

$

13,371

​

(1)

​

13,370

​

Other long-term liabilities

$

864

​

9

​

873

​

Retained earnings

$

13,644

​

(2)

​

13,642

​

Summary of components of lease expense

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​

​

​

​

​

​

​

Three months ended

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Nine months ended

​

​

September 30, 2019

​

September 30, 2019

​

​

in millions

​

Finance lease cost

​

​

​

​

​

Depreciation of leased assets

$

10

​

28

​

Interest on lease liabilities

​

1

​

4

​

Total finance lease cost

​

11

​

32

​

Operating lease cost

​

23

​

67

​

Sublease income

​

(1)

​

(3)

​

Total lease cost

$

33

​

96

​

Schedule of remaining weighted-average lease term and weighted-average discount rate

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​

​

​

​

​

September 30, 2019

​

Weighted-average remaining lease term (years):

​

​

​

Finance leases

​

29.9

​

Operating leases

​

10.1

​

Weighted-average discount rate:

​

​

​

Finance leases

​

4.6%

​

Operating leases

​

5.2%

​

Schedule of balance sheet and other information of our leases

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​

​

​

​

​

September 30,

​

​

2019

​

​

in millions

​

Operating leases:

​

​

​

Operating lease right-of-use assets (1)

$

471

​

​

​

​

​

Current operating lease liabilities (2)

$

54

​

Operating lease liabilities (3)

​

445

​

Total operating lease liabilities

$

499

​

​

​

​

​

Finance Leases:

​

​

​

Property and equipment, at cost

$

494

​

Accumulated depreciation

​

(82)

​

Property and equipment, net

$

412

​

​

​

​

​

Current finance lease liabilities (2)

$

4

​

Finance lease liabilities (3)

​

123

​

Total finance lease liabilities

$

127

​

(1) Included in Other assets in the condensed consolidated balance sheet
(2) Included in Other current liabilities in the condensed consolidated balance sheet
(3) Included in Other liabilities in the condensed consolidated balance sheet
Schedule of cash flow information related to our leases

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​

​

​

​

​

Nine Months Ended

​

​

September 30, 2019

​

​

in millions

​

Cash paid for amounts included in the measurement of lease liabilities:

​

​

​

Operating cash flows from operating leases

$

58

​

Financing cash flows from finance leases

$

6

​

​

​

​

​

Right-of-use assets obtained in exchange for lease obligations:

​

​

​

Operating leases

$

36

​

Summary of maturities of our operating leases

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​

​

​

​

​

​

​

Finance leases

​

Operating leases

​

​

in millions

​

Remainder of 2019

$

4

​

14

​

2020

​

10

​

81

​

2021

​

10

​

69

​

2022

​

9

​

65

​

2023

​

9

​

62

​

Thereafter

​

174

​

351

​

Total lease payments

​

216

​

642

​

Less: implied interest

​

89

​

143

​

Present value of lease liabilities

$

127

​

499

​

Summary of maturities of our finance leases

​

​

​

​

​

​

​

​

Finance leases

​

Operating leases

​

​

in millions

​

Remainder of 2019

$

4

​

14

​

2020

​

10

​

81

​

2021

​

10

​

69

​

2022

​

9

​

65

​

2023

​

9

​

62

​

Thereafter

​

174

​

351

​

Total lease payments

​

216

​

642

​

Less: implied interest

​

89

​

143

​

Present value of lease liabilities

$

127

​

499

​