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Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.19.1
LEASES (Tables)
3 Months Ended
Mar. 31, 2019
LEASES Ìý
Schedule of components of operating lease expense, cash flows and supplemental noncash information

The components of operating lease expense, cash flows and supplemental noncash information are as follows (dollars in millions):

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Three months

Ìý

Ìý

ended

Ìý

Ìý

March 31, 2019

Operating lease expense:

Ìý

Ìý

Ìý

Cost of goods sold

Ìý

$

16

Selling, general and administrative

Ìý

Ìý

Ìý4

Research and development

Ìý

Ìý

Ìý1

Total operating lease expense(1)

Ìý

$

21

Ìý

Ìý

Ìý

Ìý

Cash paid for amounts included in the measurement of lease liabilities:

Ìý

Ìý

Ìý

Operating cash flows from operating leases

Ìý

$

17

Ìý

Ìý

Ìý

Ìý

Supplemental noncash information:

Ìý

Ìý

Ìý

Leased assets obtained in exchange for new operating lease liabilities

Ìý

$

467


(1)

Total operating lease expense includes short-term lease expense of approximately nil.

Schedule of lease term and discount rate

The weighted-average lease term and discount rate for our operating leases are as follows:

Ìý

Ìý

Ìý

Weighted-average remaining lease term

10 years

Weighted-average discount rate

4.3%

Ìý

Schedule of undiscounted cash flows of operating lease liabilities

The undiscounted cash flows of operating lease liabilities as of March 31, 2019 are as follows (dollars in millions):

Ìý

Ìý

Ìý

Ìý

Year ending December 31,

Ìý

Ìý

2019 (excluding the three months ended March 31, 2019)

$

57

2020

Ìý

71

2021

Ìý

67

2022

Ìý

60

2023

Ìý

54

Thereafter

Ìý

294

Total lease payments

Ìý

603

Less imputed interest

Ìý

(118)

Total

$

485

Ìý

Schedule of future minimum lease payments under operating leases

Future minimum lease payments under operating leases as of December 31, 2018 are as follows (dollars in millions):

Ìý

Ìý

Ìý

Ìý

Year ending December 31,

Ìý

Ìý

2019

$

59

2020

Ìý

53

2021

Ìý

52

2022

Ìý

49

2023

Ìý

45

Thereafter

Ìý

234

Ìý

$

492

Ìý