Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.2
LEASES (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Lease Cost
The components of lease expense for the three and nine months ended September 30, 2020 and 2019 were as follows (in millions):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2020 2019 2020 2019
Operating lease costs $ 180  151  $ 527  $ 474 
Finance lease costs:
Amortization of assets 20  18  58  55 
Interest on lease liabilities 4  5  14  14 
Total finance lease costs 24  23  72  69 
Variable lease costs 58  69  171  148 
Short-term lease costs 260  194  716  633 
Total lease costs $ 522  $ 437  $ 1,486  $ 1,324 
Supplemental cash flow information related to leases is as follows (in millions):
Nine Months Ended
September 30,
2020 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 508  $ 455 
Operating cash flows from finance leases 11  11 
Financing cash flows from finance leases 136  121 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases $ 544  $ 144 
Finance leases 50  61 
Supplemental Balance Sheet
Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate):
September 30,
2020		 December 31,
2019
Operating Leases:
Operating lease right-of-use assets $ 3,022  $ 2,856 
Current maturities of operating leases $ 560  $ 538 
Non-current operating leases 2,473  2,391 
Total operating lease liabilities $ 3,033  $ 2,929 
Finance Leases:
Property, plant and equipment, net $ 1,289  $ 1,502 
Current maturities of long-term debt, commercial paper and finance leases $ 88  $ 181 
Long-term debt and finance leases 323  317 
Total finance lease liabilities $ 411  $ 498 
Weighted average remaining lease term (in years):
Operating leases 9.4 9.7
Finance leases 9.4 8.9
Weighted average discount rate:
Operating leases 2.56  % 2.78  %
Finance leases 4.25  % 4.03  %
Operating Leases Maturity Schedule
Maturities of lease liabilities as of September 30, 2020 are as follows (in millions):
Finance Leases Operating Leases
2020 $ 61  $ 148 
2021 62  634 
2022 56  541 
2023 45  440 
2024 37  323 
Thereafter 252  1,504 
Total lease payments 513  3,590 
Less: Imputed interest (102) (557)
Total lease obligations 411  3,033 
Less: Current obligations (88) (560)
Long-term lease obligations $ 323  $ 2,473 
Finance Leases Maturity Schedule
Maturities of lease liabilities as of September 30, 2020 are as follows (in millions):
Finance Leases Operating Leases
2020 $ 61  $ 148 
2021 62  634 
2022 56  541 
2023 45  440 
2024 37  323 
Thereafter 252  1,504 
Total lease payments 513  3,590 
Less: Imputed interest (102) (557)
Total lease obligations 411  3,033 
Less: Current obligations (88) (560)
Long-term lease obligations $ 323  $ 2,473