Leases

12 Months Ended

Dec. 31, 2019

10. Leases

We have facilities, vehicles and equipment under various non-cancellable operating leases with third parties. These leases generally have remaining terms ranging from 1 to 15 years, inclusive of renewal options that are reasonably certain of exercise.

Supplemental information for operating leases is as follows:



(MILLIONS OF DOLLARS, EXCEPT LEASE TERM AND DISCOUNT RATE AMOUNTS)	As of December 31, 2019
Supplemental Balance Sheet information for operating leases
Operating lease right of use assets	$	189

Operating lease liabilities
Operating lease liabilities - current (in Other current liabilities)	$	35
Operating lease liabilities - noncurrent	164
Total operating lease liabilities	$	199

Weighted-average remaining lease term—operating leases (years)	7.12
Weighted-average discount rate—operating leases	3.67		%

(MILLIONS OF DOLLARS)	Year Ended December 31, 2019
Supplemental Income Statement information for operating leases
Operating lease expense	$	40
Variable lease payments not included in the measurement of lease liabilities	21
Short-term lease payments not included in the measurement of lease liabilities	9

Supplemental Cash Flow information for operating leases
Cash paid for amounts included in the measurement of lease liabilities	$	42
Lease obligations obtained in exchange for right-of-use assets (non-cash)	241

Future minimum lease payments under non-cancellable operating lease contracts as of December 31, 2019 are as follows:



													Total		Less:
											After		Lease		Imputed
(MILLIONS OF DOLLARS)	2020		2021		2022		2023		2024		2024		Payments		Interest			Total
Maturities	$	42	$	36	$	32	$	26	$	22	$	67	$	225	$	(26	)	$	199

Future minimum lease payments under non-cancellable operating lease contracts as of December 31, 2018, in accordance with the superceded leasing standard, are as follows:



											After
(MILLIONS OF DOLLARS)	2019		2020		2021		2022		2023		2023		Total
Maturities	$	38	$	30	$	24	$	21	$	15	$	45	$	173

Total rent expense, net of sublease rental income, in accordance with the superceded leasing standard, was approximately $45 million in 2018 and $27 million in 2017.