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Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Summary of Lease Cost

The following tables provide information about the Company’s leases:

Lease cost

 

 

 

 

(in millions)

 

Three months ended

 

 

 

March 31, 2019

 

Operating lease cost

 

$

12

 

Short-term lease cost

 

 

2

 

Variable lease cost

 

 

1

 

Sublease income

 

 

(1

)

Total lease cost

 

$

14

 

 

Summary of Other Information

Other information

 

 

 

 

(in millions)

 

Three months ended

or as of

 

 

 

March 31, 2019

 

Cash paid for amounts included in the

  measurement of operating lease liabilities

 

$

11

 

Right-of-use assets obtained in exchange

  for new operating lease liabilities

 

3

 

Weighted-average remaining lease term:

  - operating leases

 

7 years

 

Weighted-average discount rate:

  - operating leases

 

 

2.7

%

 

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities (undiscounted cash flows) are as follows:

 

 

 

 

(in millions)

 

 

 

 

 

 

As of

March 31, 2019

 

2019 (excluding the three months ended March 31, 2019)

 

$

32

 

2020

 

 

33

 

2021

 

 

22

 

2022

 

 

17

 

2023

 

 

15

 

Thereafter

 

 

45

 

Total operating lease payments

 

 

164

 

Less imputed interest

 

 

(16

)

Total operating lease liabilities

 

$

148