LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of operating lease costs, including amounts capitalized to property, plant and equipment

Our operating lease costs, including amounts capitalized to PP&E, for the year ended December 31, 2019 were as follows:

	2019
	(in millions)
Operating lease cost	$	52
Short-term lease cost	74
Variable lease cost(a)	21
Total operating lease costs	$	147

(a) Includes $19 million related to drilling rigs, which are capitalized to PP&E.

Cash flows related to our operating leases for the year ended December 31, 2019 were as follows:

	2019
	(in millions)
Operating cash flows	$	14
Investing cash flows	$	40

Schedule of other operating and finance lease information

Other information related to our operating and finance leases as of December 31, 2019 was as follows:

	2019
Operating Leases
ROU asset obtained in exchange for lease obligations (in millions)	$	122
Weighted-average remaining lease term (in years)	4.75
Weighted-average discount rate	12.2		%
Finance Leases
ROU asset obtained in exchange for lease obligations (in millions)	$	2
Weighted-average remaining lease term (in years)	2.33
Weighted-average discount rate	8.5		%

Schedule of supplemental balance sheet information related to operating leases

Balance sheet information related to our operating and finance leases as of December 31, 2019 was as follows:

	Balance Sheet Location	2019
Assets		(in millions)
Operating lease, net	Other assets	$	59
Finance lease, net	PP&E	2
Total lease assets		$	61
Liabilities
Current
Operating lease	Accrued liabilities	$	27
Finance lease	Accrued liabilities	1
Long-term
Operating lease	Other long-term liabilities	37
Finance lease	Other long-term liabilities	1
Total lease liabilities		$	66

Schedule of maturities of our operating lease liabilities

Maturities of our operating and finance lease liabilities at December 31, 2019 are as follows:

	Operating			Finance
	Leases			Leases
	(in millions)
2020	$	32		$	1
2021	11			1
2022	9			—
2023	9			—
2024	6			—
Thereafter	23			—
Less: Interest	(26		)	—
Present value of lease liabilities	$	64		$	2

Schedule of maturities of our financing lease liabilities

Maturities of our operating and finance lease liabilities at December 31, 2019 are as follows:

	Operating			Finance
	Leases			Leases
	(in millions)
2020	$	32		$	1
2021	11			1
2022	9			—
2023	9			—
2024	6			—
Thereafter	23			—
Less: Interest	(26		)	—
Present value of lease liabilities	$	64		$	2

Schedule of future minimum lease payments for noncancelable operating leases

At December 31, 2018, future minimum lease payments for noncancelable operating leases under ASC 840 (excluding oil and natural gas and other mineral leases, utilities, taxes, insurance and common area maintenance expenses) were:

	December 31,
	2018
	(in millions)
2019	$	12
2020	8
2021	7
2022	7
2023	6
Thereafter	28
Total	$	68