Leases

12 Months Ended

Dec. 31, 2020

8. Leases

The Company’s leases primarily relate to office space and equipment, with remaining lease terms of generally 1 to 8 years. Certain lease arrangements contain extension options, which typically range from 3 to 5 years, at the then fair market rental rates. As of December 31, 2020 and 2019, operating lease ROU assets were $97 and $121, respectively, and liabilities were $108 and $135, respectively, which were included in other assets, and payables and other liabilities, respectively, on the consolidated balance sheets. The Company does not currently have any significant finance leases in which it is the lessee.

The table below summarizes the Company’s net lease cost:


	Successor
	Year Ended December 31,
Net Lease Cost	2020		2019
Operating lease cost	$	37	$	40
Sublease income	(6)		(3)
Short-term lease cost	—		1

Total net lease cost	$	31	$	38

The table below summarizes other information related to the Company’s operating leases:


	Successor
	Year Ended December 31,
Operating Leases - Other Information	2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	35		$	30
Leased assets obtained in exchange for new operating lease liabilities	$	14		$	154
Weighted average remaining lease term - operating leases, in years	5.3			5.5
Weighted average discount rate - operating leases	4.9		%	5.0		%

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


Year Ending December 31,	Operating Leases
2021	$	33
2022	25
2023	19
2024	13
2025	9
Thereafter	24
Total future minimum lease payments	123
Less: imputed interest	15
Total operating lease liabilities	$	108