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

The components of lease expense were as follows:

 

 

 

(in millions)

 

Three Months Ended March 31, 2019

 

 

Lease cost

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

Amortization of right-of-use assets

 

$

12

 

 

Interest on lease liabilities

 

 

2

 

 

Total finance lease cost

 

 

14

 

 

Operating lease cost

 

 

22

 

 

Sublease income

 

 

(1

)

 

Total lease cost

 

$

35

 

 

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

(in millions, except lease term and discount rate)

 

March 31, 2019

 

Operating leases

 

 

 

 

Operating lease right-of-use assets

 

$

506

 

 

 

 

 

 

Other current liabilities

 

 

114

 

Operating lease liabilities

 

 

469

 

Total operating lease liabilities

 

$

583

 

 

 

 

 

 

Finance leases

 

 

 

 

Property, plant and equipment, gross

 

$

352

 

Accumulated depreciation

 

 

(156

)

Property, plant and equipment, net

 

 

196

 

 

 

 

 

 

Other intangible assets, gross

 

 

19

 

Accumulated amortization

 

 

(7

)

Other intangible assets, net

 

 

12

 

 

 

 

 

 

Accounts payable and other current liabilities

 

 

67

 

Long-term debt and capital lease obligations

 

 

96

 

Total finance lease liabilities

 

$

163

 

 

 

 

 

 

Other information

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

Operating cash flows from finance leases

 

 

(2

)

Operating cash flows from operating leases

 

 

(28

)

Financing cash flows from finance leases

 

 

(16

)

Right-of-use assets obtained in exchange for new finance lease liabilities

 

 

8

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

30

 

Weighted-average remaining lease term--finance leases

 

4 years

 

Weighted-average remaining lease term--operating leases

 

10 years

 

Weighted-average discount rate--finance leases

 

 

4.58

%

Weighted-average discount rate--operating leases

 

 

4.55

%

Schedule of Annual Maturities of Lease Liabilities

Annual maturities of Nielsen’s lease liabilities are as follows:

 

(in millions)

 

 

 

 

 

Operating Leases

 

 

 

Finance Leases

 

For April 1, 2019 to December 31, 2019

 

$

98

 

 

$

55

 

2020

 

 

113

 

 

 

54

 

2021

 

 

91

 

 

 

34

 

2022

 

 

82

 

 

 

18

 

2023

 

 

63

 

 

 

11

 

2024

 

 

41

 

 

 

7

 

Thereafter

 

 

226

 

 

 

6

 

Total lease payments

 

 

714

 

 

 

185

 

Less imputed interest

 

 

(131

)

 

 

(22

)

Total

 

S

583

 

 

$

163