Wyndham Hotels & Resorts, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

3 Months Ended

Mar. 31, 2019

The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets.



	Classification on the Balance Sheet	March 31, 2019
Assets
Operating lease assets	Other non-current assets	$	12
Finance lease assets	Property and equipment, net	41
Total lease assets		$	53

Liabilities
Current
Operating lease liabilities	Accrued expenses and other current liabilities	$	4
Finance lease liabilities	Current portion of long-term debt	5
Noncurrent
Operating lease liabilities	Other non-current liabilities	8
Finance lease liabilities	Long-term debt	59
Total lease liabilities		$	76

Remaining Lease Term and Discount Rates

The table below presents the remaining lease term and discount rates for finance and operating leases.



	March 31, 2019
Weighted-average remaining lease term
Operating leases	2.8 years
Finance leases	10.4 years
Weighted-average discount rate
Operating leases ^(a)	5.2	%
Finance leases	4.5	%

(a) Upon adoption of the new lease guidance, discount rates used for existing leases were established on January 1, 2019.

Undiscounted Cash Flows, Operating Leases

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the Company’s Condensed Consolidated Balance Sheet as of March 31, 2019.



	Operating Leases		Finance Leases
Remainder of 2019	$	4	$	6
2020	4		7
2021	3		7
2022	2		7
2023	—		7
2024	—		7
Thereafter	—		38
Total minimum lease payments	13		79
Less: amount of lease payments representing interest	1		15
Present value of future minimum lease payments	12		64
Less: current obligations under leases	4		5
Long-term lease obligations	$	8	$	59

Undiscounted Cash Flows, Finance Lease



	Operating Leases		Finance Leases
Remainder of 2019	$	4	$	6
2020	4		7
2021	3		7
2022	2		7
2023	—		7
2024	—		7
Thereafter	—		38
Total minimum lease payments	13		79
Less: amount of lease payments representing interest	1		15
Present value of future minimum lease payments	12		64
Less: current obligations under leases	4		5
Long-term lease obligations	$	8	$	59