Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease costs

The components of lease costs are shown below:

	For the nine months ended September 30, 2019
(in millions)
Operating lease cost	$	33
Short-term lease cost	49
Variable lease cost	1
Total lease cost	$	83

As of September 30, 2019, the Company has operating leases of $20 million, related primarily to compressor leases, that have been executed but not yet commenced.  These operating leases are planned to commence during 2019 with lease terms expiring through 2023. The Company’s existing operating leases do not contain any material restrictive covenants.

Supplemental cash flow information related to leases is set forth below:

	For the nine months ended September 30, 2019
(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	34
Right-of-use assets obtained in exchange for new operating liabilities:
Operating leases	$	88

Supplemental balance sheet information

Supplemental balance sheet information related to leases is as follows:

Right-of-use asset balance: (in millions)	September 30, 2019
Operating leases	$	164
Lease liability balance: (in millions)
Short-term operating leases	$	35
Long-term operating leases	124
Total operating leases	$	159
Weighted average remaining lease term: (years)
Operating leases	6.8
Weighted average discount rate:
Operating leases	5.54		%

Lease maturity schedule

Maturity analysis of operating lease liabilities:

(in millions)	September 30, 2019
2019	$	12
2020	40
2021	31
2022	21
2023	19
2024	15
Thereafter	52
Total undiscounted lease liability	190
Imputed interest	(31)
Total discounted lease liability	$	159

(in millions)	December 31, 2018
2019	$	38
2020	28
2021	14
2022	6
2023	5
Thereafter	4
Total minimum payments required	$	95