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):

Year ended

December 31, 2019

Operating lease expense:

Cost of goods sold

$

35

Selling, general and administrative

15

Research and development

6

Total operating lease expense(1)(2)

$

56

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

Operating cash flows from operating leases

$

53

Supplemental noncash information:

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

Weighted-average remaining lease term

11 years

Weighted-average discount rate

4.1%

Schedule of undiscounted cash flows of operating lease liabilities

Year ending December 31,

2020

$

58

2021

57

2022

52

2023

48

2024

45

Thereafter

268

Total lease payments

528

Less imputed interest

(102)

Total

$

426

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):

Year ending December 31,

2019

$

37

2020

33

2021

36

2022

34

2023

32

Thereafter

224

$

396