Liberty TripAdvisor Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

9 Months Ended

Sep. 30, 2019


	Balance at December 31, 2018		Adjustments due to ASC 842	Balance at January 1, 2019
	in millions
Assets:
Other current assets	$	48	(3)	45
Property and equipment, net	$	154	8	162
Other assets, at cost, net of accumulated amortization	$	118	73	191

Liabilities:
Accrued liabilities and other current liabilities	$	151	21	172
Deferred income tax liabilities	$	325	1	326
Other liabilities	$	283	53	336
Retained earnings	$	133	1	134
Noncontrolling interests in equity of subsidiaries	$	3,400	2	3,402


	Three months ended		Nine months ended
	September 30, 2019		September 30, 2019
	in millions
Operating lease cost (1)	$	6	18
Finance lease cost:
Amortization of right-of-use assets (2)	$	2	7
Interest on lease liabilities (3)		1	3
Total finance lease cost	$	3	10
Sublease income (1)		(1)	(3)
Total lease cost, net	$	8	25

(1)

Included in operating expense, including stock-based compensation in the condensed consolidated statement of operations.

(2)

Included in depreciation expense in the condensed consolidated statement of operations.

(3)

Included in interest expense in the condensed consolidated statement of operations.

Supplemental balance sheet information related to leases is as follows:


	September 30, 2019
		in millions
Operating leases:
Operating lease right-of-use assets (1)	$	76

Current operating lease liabilities (2)	$	19
Operating lease liabilities (3)		66
Total operating lease liabilities	$	85

Finance Lease:
Finance lease right-of-use assets (4)	$	107

Current finance lease liabilities (2)	$	5
Finance lease liabilities (3)		79
Total finance lease liabilities	$	84

(1)

Included in other assets, at cost, net of accumulated amortization in the condensed consolidated balance sheet.

(2)

Included in accrued liabilities and other current liabilities in the condensed consolidated balance sheet.

(3)

Included in other liabilities in the condensed consolidated balance sheet.

(4)

Included in property and equipment, net in the condensed consolidated balance sheet.

Additional information related to leases is as follows for the periods presented:


	Nine months ended
	September 30, 2019
	in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	20
Operating cash outflows from finance lease	$	3
Financing cash outflows from finance lease	$	4
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	104
Finance lease	$	88


		As of September 30, 2019
Weighted-average remaining lease term
Operating leases		4.6 years
Finance lease		11.3 years
Weighted-average discount rate
Operating leases		4.16%
Finance lease		4.49%