Leases

6 Months Ended

Jun. 30, 2020

Leases of Lessee Disclosure [Text Block]

LEASES

The Company leases certain land, warehouses, office space, and production, office, and technology equipment, among other items. Most equipment is leased on a monthly basis. Many land, warehouse, and office space leases include renewal terms that can extend the lease term. The exercise of lease renewal options is at the Company's sole discretion. The depreciable life of assets and leasehold improvements are generally limited by the expected lease term. The Company's lease agreements do not generally contain material residual value guarantees, material restrictive covenants, or purchase options. The Company's lease portfolio consists primarily of operating leases. Amounts after January 1, 2019, are reported under Topic 842 in accordance with ASU 2016-02.

Lease costs and related information were as follows:


	Three Months Ended June 30									Six Months Ended June 30
($ in millions)	2020			2019			2020			2019
Operating lease costs	$	13		$	12		$	29		$	23
Short-term operating lease costs	$	9		$	7		$	13		$	12
Variable operating lease costs	$	1		$	2		$	2		$	3
Operating cash flows from operating leases	$	(12)		$	(11)		$	(28)		$	(22)
Right-of-use assets obtained in exchange for new operating lease liabilities	$	4		$	4		$	21		$	17
Weighted-average remaining lease term (years) - operating leases	10 years			11 years			10 years			11 years
Weighted-average discount rate - operating leases	4.1		%	4.5		%	4.1		%	4.5		%

The undiscounted future non-cancellable lease payments under our operating leases were as follows:


Year:	June 30, 2020		December 31, 2019
2020	$	24	$	45
2021	41		38
2022	30		30
2023	25		24
2024	22		22
Thereafter	119		114
Total lease payments	261		273
Less: imputed interest	57		58
Present value of lease liabilities	$	204	$	215

Lease liabilities included in the Company's consolidated balance sheet as of June 30, 2020, were as follows:


($ in millions)	June 30, 2020		December 31, 2019
Short-term operating lease liabilities	$	29	$	35
Lease liabilities included in liabilities held for sale	28		16
Long-term operating lease liabilities	147		164
Total operating lease liabilities	$	204	$	215