Commitments and Contingencies Leases We determine whether an arrangement meets the criteria for an operating lease or a finance lease at the inception of the arrangement. We have operating leases for office space and equipment. Our leases have remaining lease terms of 1 year to 14 years , some of which include options to extend the leases for up to 12 years , and some of which include options to terminate the leases within 1 year . We consider these options in determining the lease term used to establish our right-of use ("ROU") assets and associated lease liabilities. We sublease certain real estate leases to third parties which mainly consist of operating leases for space within our offices. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expenses for these leases on a straight line-basis over the lease term in operating-related expenses and selling and general expenses. Operating lease ROU assets and operating liabilities are recognized based on the present value and future minimum lease payments over the lease term at commencement date. Our future minimum based payments used to determine our lease liabilities include minimum based rent payments and escalations. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The following table provides information on the location and amounts of our leases on our consolidated balance sheet as of March 31, 2019 : (in millions) March 31, Balance Sheet Location 2019 Assets Right of use assets Lease right-of-use assets $ 675 Liabilities Other current liabilities Current lease liabilities 110 Lease liabilities  non-current Noncurrent lease liabilities 617 The components of lease expense for the three months ended March 31 is as follows: (in millions) 2019 Operating lease cost $ 37 Sublease income (4 ) Total lease cost $ 33 Supplemental information related to leases for the three months ended March 31 is as follows: (in millions) 2019 Cash paid for amounts included in the measurement for lease liabilities Operating cash flows from operating leases $ 35 Right-of-use assets obtained in exchange for lease obligations Operating leases 715 Weighted-average remaining lease term and discount rate for our operating leases as of March 31 are as follows: 2019 Weighted-average remaining lease term (years) 9.9 Weighted-average discount rate 3.88 % Maturities of lease liabilities for our operating leases are as follows: (in millions) 2019 (Excluding the three months ended March 31, 2019) $ 104 2020 111 2021 93 2022 79 2023 71 2024 and beyond 416 Total undiscounted lease payments $ 874 Less: Imputed interest 147 Present value of lease liabilities $ 727 Related Party Agreements In March of 2018, the Company made a $20 million contribution to the S&amp;P Global Foundation included in selling and general expenses. In June of 2012, we entered into a license agreement (the "License Agreement") with the holder of S&amp;P Dow Jones Indices LLC noncontrolling interest, CME Group, replacing the 2005 license agreement between Indices and CME Group. Under the terms of the License Agreement, S&amp;P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group's equity index products. During the three months ended March 31, 2019 and 2018 , S&amp;P Dow Jones Indices LLC earned $29 million and $31 million of revenue under the terms of the License Agreement, respectively. The entire amount of this revenue is included in our consolidated statement of income and the portion related to the 27% noncontrolling interest is removed in net income attributable to noncontrolling interests. Legal and Regulatory Matters In the normal course of business both in the United States and abroad, the Company and its subsidiaries are defendants in a number of legal proceedings and are often the subject of government and regulatory proceedings, investigations and inquiries. Many of these proceedings, investigations and inquiries relate to the ratings activity of S&amp;P Global Ratings brought by issuers and alleged purchasers of rated securities. In addition, various government and self-regulatory agencies frequently make inquiries and conduct investigations into our compliance with applicable laws and regulations, including those related to ratings activities and antitrust matters. For example, as a nationally recognized statistical rating organization registered with the SEC under Section 15E of the Securities Exchange Act of 1934, S&amp;P Global Ratings is in ongoing communication with the staff of the SEC regarding compliance with its extensive obligations under the federal securities laws. Although S&amp;P Global Ratings seeks to promptly address any compliance issues that it detects or that the staff of the SEC raises, there can be no assurance that the SEC will not seek remedies against S&amp;P Global Ratings for one or more compliance deficiencies. Any of these proceedings, investigations or inquiries could ultimately result in adverse judgments, damages, fines, penalties or activity restrictions, which could adversely impact our consolidated financial condition, cash flows, business or competitive position. In view of the uncertainty inherent in litigation and government and regulatory enforcement matters, we cannot predict the eventual outcome of such matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity (if any) restrictions may be. As a result, we cannot provide assurance that such outcomes will not have a material adverse effect on our consolidated financial condition, cash flows, business or competitive position. As litigation or the process to resolve pending matters progresses, as the case may be, we will continue to review the latest information available and assess our ability to predict the outcome of such matters and the effects, if any, on our consolidated financial condition, cash flows, business or competitive position, which may require that we record liabilities in the consolidated financial statements in future periods.