Leases

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

Leases

The table below summarizes the operating leases included in the Condensed Consolidated Balance Sheets.

	Balance Sheet Location	September 30, 2020		December 31, 2019
		(In millions)
Operating lease asset	Other Assets	$	27	$	37
Total right-of-use assets		$	27	$	37
Operating lease liabilities	Other Current Liabilities	$	5	$	9
Operating lease liabilities	Other Liabilities	25		31
Total lease liabilities		$	30	$	40

As of September 30, 2020, all lease obligations outstanding were classified as operating leases. Therefore, all cash flows are reflected in Cash Flows from Operating Activities.

The following table presents the Partnership’s rental costs associated with field equipment and buildings.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In millions)
Rental Costs:
Field equipment	$	3	$	6	$	12	$	18
Office space	1		1		3		5

As of September 30, 2020, the weighted average remaining lease term is 7.0 years and the weighted average discount rate is 5.47%.

The following table presents the Partnership’s lease cost.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In millions)
Lease Cost:
Operating lease cost	$	2	$	2	$	5	$	7
Short-term lease cost	2		4		9		15
Variable lease cost	—		1		1		1
Total Lease Cost	$	4	$	7	$	15	$	23

The Partnership recorded short-term lease costs of $1 million in the transportation and storage reportable segment during the three and nine months ended September 30, 2019. All other lease costs were included in the gathering and processing reportable segment.

Under ASC 842, as of September 30, 2020, the Partnership has operating lease obligations expiring at various dates. Undiscounted cash flows for non-cancellable operating lease liabilities are as follows:

	Non-cancellable operating leases
	(In millions)
Year Ended December 31,
2020 - remainder	$	2
2021	6
2022	5
2023	5
2024	4
2025	3
After 2025	8
Total	33
Impact of the applicable discount rate	(3)
Total lease liabilities	$	30