Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.19.3
Leases
9 Months Ended
Sep. 28, 2019
Leases [Abstract]  
Leases Leases
The Company has entered into operating and finance leases for its corporate offices, datacenters, research and development facilities and certain equipment. The leases expire at various dates through 2028, some of which include options to extend the lease for up to 5 years.
For the three and nine months ended September 28, 2019, the Company recorded $13 million and $39 million of operating lease expense, respectively. For the three and nine months ended September 28, 2019, the Company recorded $6 million and $19 million of variable lease expense, respectively. For the three and nine months ended September 28, 2019, cash paid for operating leases included in operating cash flows was $14 million and $36 million, respectively. The Company's finance leases and short-term leases are immaterial.
 
September 28, 2019
Weighted-average remaining lease term – operating leases
6 years

Weighted-average discount rate – operating leases
6.11
%
Future minimum lease payments under non-cancellable operating lease liabilities are as follows:
 
September 28, 2019
 
(In millions)
2019 (3 months remaining)
$
13

2020
51

2021
46

2022
42

2023
37

Thereafter
103

        Total minimum lease payments
$
292

Less: interest
(53
)
        Present value of net minimum lease payments
239

Less: current portion
(38
)
        Total
$
201