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Leases

3 Months Ended

Mar. 31, 2020

PPG leases certain retail paint stores, warehouses, distribution facilities, office space, fleet vehicles and equipment.

The components of lease expense were as follows:


		Three Months Ended March 31
($ in millions)	Classification in the Condensed Consolidated Statement of Income	2020	2019
Operating lease cost:
Operating lease cost	Cost of sales, exclusive of depreciation and amortization	$8	$9
Operating lease cost	Selling, general and administrative	53	48
Total operating lease cost		$61	$57
Finance lease cost:
Amortization of right-of-use assets	Depreciation	$1	$1


Total lease cost		$62	$58

Total operating lease cost is inclusive of the following:


($ in millions)	Classification on the Condensed Consolidated Balance Sheet	March 31, 2020	December 31, 2019
Assets:
Operating	Operating lease right-of-use assets	$784	$782
Finance ^(a)	Property, plant, and equipment, net	13	17
Total leased assets		$797	$799
Liabilities:
Current
Operating	Current portion of operating lease liabilities	$166	$170
Finance	Short-term debt and current portion of long-term debt	2	3
Noncurrent
Operating	Operating lease liabilities	$627	$622
Finance	Long-term debt	7	8
Total lease liabilities		$802	$803

(a) Net of accumulated depreciation of $11 million as of March 31, 2020 and December 31, 2019.


	Three Months Ended March 31
($ in millions)	2020	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$52	$52

Financing cash flows paid for finance leases	$1	$1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$61	$34


	March 31, 2020		December 31, 2019
Weighted-average remaining lease term (in years)
Operating leases	7.6		7.4
Finance leases	6.3		6.2
Weighted-average discount rate
Operating leases	3.0	%	3.0	%
Finance leases	9.3	%	9.4	%

As of March 31, 2020, maturities of lease liabilities were as follows:

PPG leases certain retail paint stores, warehouses, distribution facilities, office space, fleet vehicles and equipment.

The components of lease expense were as follows:


		Three Months Ended March 31
($ in millions)	Classification in the Condensed Consolidated Statement of Income	2020	2019
Operating lease cost:
Operating lease cost	Cost of sales, exclusive of depreciation and amortization	$8	$9
Operating lease cost	Selling, general and administrative	53	48
Total operating lease cost		$61	$57
Finance lease cost:
Amortization of right-of-use assets	Depreciation	$1	$1


Total lease cost		$62	$58

Total operating lease cost is inclusive of the following:


($ in millions)	Classification on the Condensed Consolidated Balance Sheet	March 31, 2020	December 31, 2019
Assets:
Operating	Operating lease right-of-use assets	$784	$782
Finance ^(a)	Property, plant, and equipment, net	13	17
Total leased assets		$797	$799
Liabilities:
Current
Operating	Current portion of operating lease liabilities	$166	$170
Finance	Short-term debt and current portion of long-term debt	2	3
Noncurrent
Operating	Operating lease liabilities	$627	$622
Finance	Long-term debt	7	8
Total lease liabilities		$802	$803

(a) Net of accumulated depreciation of $11 million as of March 31, 2020 and December 31, 2019.


	Three Months Ended March 31
($ in millions)	2020	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$52	$52

Financing cash flows paid for finance leases	$1	$1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$61	$34


	March 31, 2020		December 31, 2019
Weighted-average remaining lease term (in years)
Operating leases	7.6		7.4
Finance leases	6.3		6.2
Weighted-average discount rate
Operating leases	3.0	%	3.0	%
Finance leases	9.3	%	9.4	%

As of March 31, 2020, maturities of lease liabilities were as follows: