Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Lease, Cost

	Year Ended December 31,
	2019
	(in millions)
Operating lease cost	$	10
Variable lease cost	2
Total lease cost (1)	$	12
Cash paid for amounts included in the measurement of lease liabilities (2)
Operating cash flows from operating leases	$	11
ROU assets obtained in exchange for new operating lease liabilities (3)	37
ROU assets obtained in exchange for new finance lease liabilities (3)	2

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(1)

Short-term lease costs, finance lease costs and sublease income are de minimis.

Lease Assets and Liabilities

	As of December 31, 2019
	Assets(1)		Liabilities(2)		Weighted Average Remaining Lease Term (in years)	Weighted Average Discount Rate
	(in millions)
Operating leases	$	100	$	130	9.4	2.61	%
Finance leases	2		2		1.8	1.74	%
Total	$	102	$	132

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(1) Recorded in other assets in the consolidated balance sheets. Finance lease assets are recorded net of accumulated amortization of $0.1 million as of December 31, 2019.

(2) Recorded in other liabilities in the consolidated balance sheets.

Future Minimum Rental Payments

Future Minimum Rental Payments

	As of December 31, 2019
Year	(in millions)
	Operating Leases		Finance Leases
2020	$	19	$	1
2021	19		1
2022	19		—
2023	19		—
2024	11		—
Thereafter	62		—
Total lease payments (1)	149		2
Less: imputed interest	19		—
Total lease liabilities	$	130	$	2

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(1)

Prior to the adoption of ASC 842, future lease payments under operating leases at December 31, 2018 were $9 million, $9 million, $8 million, $8 million, and $9 million for 2019 through 2023, respectively, and $72 million in aggregate for all years thereafter.