LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule Of Lease By Asset Type

Certain of the Company's lease agreements include rental payments adjusted periodically for inflation or a market rate which are included in the lease liabilities.

Leases	Balance Sheet Classification	December 31, 2019
Assets
Operating	Operating lease right-of-use assets	$	518
Finance	Property, plant and equipment, net (a)	35
Total lease assets		$	553
Liabilities
Current:
Operating	Current portion of long-term operating lease liabilities	$	145
Finance	Current portion of long-term debt	3
Non-current:
Operating	Long-term operating lease liabilities	413
Finance	Long-term debt	30
Total lease liabilities		$	591

(a) Finance lease assets were recorded net of accumulated amortization of $24 million as of December 31, 2019.

Lease, Cost

Components of lease cost for the year ended December 31, 2019 were as follows:

Lease cost	Year Ended December 31, 2019
Operating lease cost (a)	$	294
Finance lease cost:
Amortization of leased assets	7
Interest on lease liabilities	3
Net lease cost	$	304

(a) Includes short-term leases and variable lease costs (primarily usage-based maintenance fees and utilities related to real estate leases and certain equipment-related and vehicle-related costs) of $120 million for the year ended December 31, 2019.

Operating Lease, Liability, Maturity

The maturity of the Company's lease liabilities as of December 31, 2019 is as follows:

Maturity of lease liabilities	Operating leases		Finance leases		Total
2020	$	151	$	6	$	157
2021	129		6		135
2022	102		5		107
2023	82		3		85
2024	52		3		55
Thereafter	105		31		136
Total lease payments	621		54		675
Less: Interest	63		21		84
Present value of lease liabilities	$	558	$	33	$	591

Finance Lease, Liability, Maturity

The maturity of the Company's lease liabilities as of December 31, 2019 is as follows:

Maturity of lease liabilities	Operating leases		Finance leases		Total
2020	$	151	$	6	$	157
2021	129		6		135
2022	102		5		107
2023	82		3		85
2024	52		3		55
Thereafter	105		31		136
Total lease payments	621		54		675
Less: Interest	63		21		84
Present value of lease liabilities	$	558	$	33	$	591

Schedule of Future Minimum Rental Payments for Operating Leases

Minimum rental commitments under noncancelable operating leases, primarily real estate, in effect as of December 31, 2018 are as follows:

Year Ending December 31,
2019	$	181
2020	143
2021	106
2022	79
2023	60
Thereafter	122
Minimum lease payments	$	691

Schedule of Lease Term and Discount Rate

Lease term and discount rate as of December 31, 2019 were as follows:

Lease term and discount rate
Weighted-average remaining lease term (years):
Operating leases	5
Finance leases	12
Weighted-average discount rate:
Operating leases	3.4	%
Finance leases	8.7	%