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Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.19.3
LEASES (Tables)
9 Months Ended
Sep. 30, 2019
LEASES
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 from continuing operations are as follows (dollars in millions):

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Three months

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Nine months

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ended

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ended

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September 30, 2019

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September 30, 2019

Operating lease expense:

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Cost of goods sold

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$

8

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$

27

Selling, general and administrative

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5

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10

Research and development

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1

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4

Total operating lease expense(1)

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$

14

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$

41

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

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Operating cash flows from operating leases

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$

15

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$

39

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Supplemental noncash information:

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Leased assets obtained in exchange for new operating lease liabilities

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$

1

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$

387

(1) Total operating lease expense includes short-term lease expense of approximately nil and $1 million for the three and nine months ended September 30, 2019, respectively.
Schedule of lease term and discount rate

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

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Weighted-average remaining lease term

11 years

Weighted-average discount rate

4.3%

Schedule of undiscounted cash flows of operating lease liabilities

The undiscounted cash flows of operating lease liabilities from continuing operations as of September 30, 2019 are as follows (dollars in millions):

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Year ending December 31,

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2019 (excluding the nine months ended September 30, 2019)

$

12

2020

鈥�

51

2021

鈥�

51

2022

鈥�

45

2023

鈥�

42

Thereafter

鈥�

284

Total lease payments

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485

Less imputed interest

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(99)

Total

$

386

Schedule of future minimum lease payments under operating leases

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

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Year ending December 31,

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2019

$

37

2020

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33

2021

鈥�

36

2022

鈥�

34

2023

鈥�

32

Thereafter

鈥�

224

鈥�

$

396

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