Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2019

Note 10 – Other Long-Term Liabilities

As of December 31, 2019 and 2018, other long-term liabilities consisted of the following (in millions):

	December 31,		December 31,
	2019		2018
Accrued warranty reserve	$	745	$	547
Build-to-suit lease liability		—		1,662
Operating lease right-of-use liabilities		956		—
Deferred rent expense		—		59
Financing obligation		37		50
Sales return reserve	545			84
Other noncurrent liabilities		372		308
Total other long-term liabilities	$	2,655	$	2,710

As of December 31, 2018, the table above included $1.66 billion of non-current build-to-suit lease liabilities. As a result of the adoption of the new lease standard on January 1, 2019, we have de-recognized all build-to-suit lease liabilities and have reassessed these leases to be operating lease right-of-use liabilities as of December 31, 2019.

Due to price adjustments we made to our vehicle offerings during 2019, we increased our sales return reserve significantly on vehicles previously sold under our buyback options program. Refer to Note 2, Summary of Significant Accounting Policies, for details on these transactions.