Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases

Summary of components of lease expense

	Three Months Ended				Six Months Ended
Lease Cost	June 30,				June 30,
(in millions)	2020		2019		2020		2019
Operating lease cost	$	13	$	14	$	26	$	27
Variable operating lease cost		7		6		15		12
Short term lease cost		1		1		2		1
Lease cost	$	21	$	21	$	43	$	40

Reconciliation of future undiscounted cash flows to the operating lease liabilities and the related ROU assets

Operating Leases		As of
(in millions)		June 30, 2020
2020 (Excluding the six months ended June 30, 2020)	$	26
2021		44
2022		35
2023		26
2024		18
Thereafter		34
Total future lease payments		183
Less imputed interest		27
Present value of future lease payments		156
Less current lease liabilities		41
Non-current operating lease liabilities	$	115
Operating lease assets	$	149

Summary of other lease information

	Three Months Ended				Six Months Ended
Other Information	June 30,				June 30,
($ in millions)	2020		2019		2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13	$	14	$	26		$	29
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	13	$	6	$	21		$	167
					As of			As of
					June 30, 2020			December 31, 2019
Weighted average remaining lease term:
Operating leases						5.2 years			5.5 years
Weighted average discount rate:
Operating leases						5.5	%		5.7	%