Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Assets And Liabilities, Lessee

The following tables summarize balance sheet data related to leases at September 30, 2019 and our lease costs as of and for the three and nine months ended September 30, 2019:

Leases	Classification	September 30, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	5
Finance lease assets	Property, plant and equipment, net (1)	17
Total lease assets		$	22
Liabilities
Current
Finance	Accrued liabilities - third parties	$	1
Noncurrent
Operating	Operating lease liabilities	4
Finance	Finance lease liabilities	25
Total lease liabilities		$	30

⁽¹⁾ Finance lease assets are recorded net of accumulated amortization of $6 million as of September 30, 2019.

Lease, Cost

		Three Months Ended		Nine Months Ended
Lease cost	Classification	September 30, 2019		September 30, 2019
Operating lease cost (1)	Operations and maintenance - third parties	$	—	$	—
Finance lease cost (cost resulting from lease payments):
Amortization of leased assets	Depreciation and amortization	1		1
Interest on lease liabilities	Interest expense, net	1		3
Total lease cost		$	2	$	4

⁽¹⁾ Amounts for the three and nine months ended September 30, 2019 were less than $1 million.

Supplemental Cash Flows, Lessee

	Nine Months Ended
	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	—
Operating cash flows from finance leases	(3)
Financing cash flows from finance leases	(1)

⁽¹⁾ Amounts for the nine months ended September 30, 2019 were less than $1 million.

	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	20
Finance leases	12
Weighted-average discount rate
Operating leases	5.8	%
Finance leases	14.3	%

Lessee, Operating Lease, Liability, Maturity

The future annual maturity of lease payments as of September 30, 2019 for the above lease obligations was:

Maturity of lease liabilities	Operating leases (1)		Finance leases (2)		Total
Remainder of 2019	$	—	$	1	$	1
2020	—		4		4
2021	1		4		5
2022	—		4		4
2023	1		4		5
Remainder	6		36		42
Total lease payments	8		53		61
Less: Interest (3)	(3)		(27)		(30)
Present value of lease liabilities (4)	$	5	$	26	$	31

⁽¹⁾ Operating lease payments include $2 million related to options to extend lease terms that are reasonably certain of being exercised.

⁽²⁾ Includes $26 million in principal and excludes $9 million in executory costs.

⁽³⁾ Calculated using the interest rate for each lease.

⁽⁴⁾ Includes the current portion of $1 million for the finance lease.

Finance Lease, Liability, Maturity

The future annual maturity of lease payments as of September 30, 2019 for the above lease obligations was:

Maturity of lease liabilities	Operating leases (1)		Finance leases (2)		Total
Remainder of 2019	$	—	$	1	$	1
2020	—		4		4
2021	1		4		5
2022	—		4		4
2023	1		4		5
Remainder	6		36		42
Total lease payments	8		53		61
Less: Interest (3)	(3)		(27)		(30)
Present value of lease liabilities (4)	$	5	$	26	$	31

⁽¹⁾ Operating lease payments include $2 million related to options to extend lease terms that are reasonably certain of being exercised.

⁽²⁾ Includes $26 million in principal and excludes $9 million in executory costs.

⁽³⁾ Calculated using the interest rate for each lease.

⁽⁴⁾ Includes the current portion of $1 million for the finance lease.

Lessor, Operating Lease, Payments to be Received, Maturity

As of September 30, 2019, future annual maturity of lease payments to be received under the contract terms of these operating leases, which includes only the lease components of these leases, was estimated to be:

Maturity of lease payments	Operating leases (1)
Remainder of 2019	$	14
2020	56
2021	56
2022	56
2023	56
Remainder	604
Total lease payments	$	842

⁽¹⁾ Operating lease payments include $411 million related to options to extend lease terms that are reasonably certain of being exercised.