LEASES RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENT (Details) - USD ($) $ in Millions |
6 Months Ended | ||||
|---|---|---|---|---|---|
Jan. 01, 2019 |
Jun. 30, 2019 |
Jul. 01, 2018 |
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| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
| Adoption of new accounting standards | [1] | $ 30 | |||
| ASU 2016-02 Leases | |||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
| New Accounting Pronouncement or Change in Accounting Principle, Description | In February 2016, the Financial Accounting Standards Board (FASB) amended its standards related to the accounting for leases. Under the new standard, lessees are now required to recognize substantially all leases on the balance sheet as both a right-of-use (ROU) asset and a liability. The standard continues to have two types of leases for income statement recognition purposes: operating leases and finance leases. Operating leases result in the recognition of a single lease expense on a straight-line basis over the lease term, similar to the treatment for operating leases under the old standard. Finance leases result in an accelerated expense similar to the accounting for capital leases under the old standard. The determination of a lease classification as operating or finance will occur in a manner similar to the old standard. The new standard also contains amended guidance regarding the identification of embedded leases in service contracts and the identification of lease and non-lease components of an arrangement. We adopted the new standard on January 1, 2019, using a modified retrospective approach and as a result did not adjust prior periods. Adoption of the standard resulted in the recording of $450 million of operating lease right-of-use assets and operating lease liabilities, but did not have a material impact on our net income or cash flows. The cumulative effect adjustment of adopting the new standard was not material. We elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification and to not re-evaluate existing contracts as to whether or not they contained a lease.On January 1, 2019, we adopted the new lease standard in accordance with GAAP. See NOTE 9, "LEASES," for detailed information about the adoption of this standard. | ||||
| Adoption of new accounting standards | $ 450 | ||||
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