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Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.19.3.a.u2
LEASES (Tables)
12 Months Ended
Dec. 31, 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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Year ended

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December 31, 2019

Operating lease expense:

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Cost of goods sold

$

35

Selling, general and administrative

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15

Research and development

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6

Total operating lease expense(1)(2)

$

56

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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

$

53

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Supplemental noncash information:

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Leased assets obtained in exchange for new operating lease liabilities

$

416

(1) Total operating lease expense includes short-term lease expense of approximately $1 million for the year ended December 31, 2019.
(2) Total operating lease expense for the years ended December 31, 2018 and 2017 were $55 million and $60 million, respectively.
Schedule of lease term and discount rate

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Weighted-average remaining lease term

11 years

Weighted-average discount rate

4.1%

Schedule of undiscounted cash flows of operating lease liabilities

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Year ending December 31,

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2020

$

58

2021

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57

2022

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52

2023

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48

2024

鈥�

45

Thereafter

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268

Total lease payments

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528

Less imputed interest

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(102)

Total

$

426

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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

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36

2022

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34

2023

鈥�

32

Thereafter

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224

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$

396

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