XML 44 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments And Contingencies (Tables)
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Lease, Cost [Table Text Block]
The components of lease expense consisted of the following:
Three Months Ended
September 30,
Nine Months Ended
September 30,
Lease costClassification2020201920202019
(in millions)
Operating lease costLease expense$15 $13 $41 $39 
Finance lease cost
Amortization of leased assetsDepreciation, amortization, and accretion— 
Interest on lease liabilitiesInterest expense— — 
Short term lease costLease expense— 
Variable lease costLease expense
Sublease incomeLease income(10)(12)(30)(33)
Net lease cost$$$19 $15 
September 30,
Lease Term and Discount Rate20202019
Weighted-average remaining lease term (years)
Operating leases2424
Finance leases96
Weighted-average discount rate (%)
Operating leases%%
Finance leases%%
Nine Months Ended September 30,
Other information20202019
(in millions)
Cash paid for amount included in the measurement of lease liabilities
Operating cash flows from operating leases$(39)$(39)
Operating cash flows from finance leases$— $(1)
Financing cash flows from finance leases$(3)$(2)
Leased assets obtained in exchange for new finance lease liabilities$— $37 
Leased assets obtained in exchange for new operating lease liabilities$11 $22 
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity of lease liabilities (as of September 30, 2020)
Operating leasesFinance leasesTotal
(in millions)
2020 (remainder)$12 $— $12 
202150 51 
202248 49 
202346 47 
202445 46 
Thereafter847 852 
Total lease payment1,048 1,057 
Less: interest501 504 
Present value of lease liabilities$547 $$553 
Operating Lease, Lease Income [Table Text Block]
The Partnership leases or subleases a portion of its real estate portfolio to third party companies as a stable source of long-term revenue. Our lessor and sublease portfolio consists mainly of operating leases with convenience store operators. At this time, most lessor agreements contain 5-year terms with renewal options to extend and early termination options based on established terms specific to the individual agreement. The below table is a summary of lease income by segment.
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(in millions)
Fuel Distribution and Marketing lease income$30 $31 $89 $94 
All Other lease income14 13 
Total lease income$34 $37 $103 $107 
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]
Minimum future lease payments receivable are as follows:
September 30, 2020
(in millions)
2020 (remainder)$29 
202197 
202263 
2023
2024
Thereafter
Total undiscounted cash flow$207