Leases (Tables)

3 Months Ended

Mar. 31, 2019

The following table presents certain information related to lease terms and discount rates for leases as of March 31, 2019:



	March 31,
	2019
Weighted-average remaining lease term (in years):
Operating leases	4.2
Finance leases	1.9
Weighted-average discount rate:
Operating leases	5.1	%
Finance leases	3.6	%

The following table presents the lease-related assets and liabilities reported in the consolidated balance sheet as of March 31, 2019:



		March 31,
Dollars in millions	Classification	2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	62
Finance lease assets	Property and equipment, net	1
Total lease assets		$	63

Liabilities
Current
Operating	Accrued expenses, other	$	21
Finance	Current maturities of long-term debt and other borrowings	—
Noncurrent
Operating	Other liabilities	43
Finance	Long-term debt and other borrowings, net	—
Total lease liabilities		$	64

Lease Cost

The following table presents supplemental cash flow information related to leases for the three months ended March 31, 2019 :



	Three months ended
Dollars in millions	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6
Operating cash flows from financing leases	—
Financing cash flows from finance leases	—
Right-of-use assets obtained in exchange for new operating lease liabilities	67
Right-of-use assets obtained in exchange for new finance lease liabilities	1

The following table presents information related to lease expense for the three months ended March 31, 2019:



	Three months ended
Dollars in millions	March 31, 2019
Finance lease cost:
Amortization of right-of-use asset	$	—
Interest on lease liabilities	—
Operating lease cost	6
Short-term lease cost	—
Variable lease cost	—
Total lease cost	$	6

Finance Lease Maturities

The following table reconciles future minimum lease payments on an undiscounted cash flow basis to the lease liabilities reported in the consolidated balance sheet as of March 31, 2019:



Dollars in millions	Operating Leases		Finance Leases
2019 (remaining 9 months)	$	17	$	1
2020	18		—
2021	12		—
2022	8		—
2023	4		—
Thereafter	7		—
Total minimum lease payments	$	66	$	1
Less - amount representing interest	5		—
Present value of net minimum lease payments	$	61	$	1
Less - current portion of operating lease obligation	20		1
Long-term operating lease obligation	$	41	$	—

Operating Lease Maturities

The following table reconciles future minimum lease payments on an undiscounted cash flow basis to the lease liabilities reported in the consolidated balance sheet as of March 31, 2019:



Dollars in millions	Operating Leases		Finance Leases
2019 (remaining 9 months)	$	17	$	1
2020	18		—
2021	12		—
2022	8		—
2023	4		—
Thereafter	7		—
Total minimum lease payments	$	66	$	1
Less - amount representing interest	5		—
Present value of net minimum lease payments	$	61	$	1
Less - current portion of operating lease obligation	20		1
Long-term operating lease obligation	$	41	$	—