Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Lease Cost The components of lease expense for the three and six months ended June 30, 2021 and 2020 were as follows (in millions):
Three Months Ended
June 30,		 Six Months Ended
June 30,
2021 2020 2021 2020
Operating lease costs $ 179  $ 172  $ 354  $ 347 
Finance lease costs:
Amortization of assets 23  20  46  38 
Interest on lease liabilities 3  5  7  10 
Total finance lease costs 26  25  53  48 
Variable lease costs 62  55  127  113 
Short-term lease costs 251  253  530  456 
Total lease costs $ 518  $ 505  $ 1,064  $ 964 
Supplemental cash flow information related to leases is as follows (in millions):
Six Months Ended
June 30,
2021 2020
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 364  $ 338 
Operating cash flows from finance leases 7  10 
Financing cash flows from finance leases 33  33 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases $ 854  $ 403 
Finance leases 113  49 
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):
June 30,
2021		 December 31,
2020
Operating Leases:
Operating lease right-of-use assets $ 3,568  $ 3,073 
Current maturities of operating leases $ 556  $ 560 
Non-current operating leases 3,038  2,540 
Total operating lease liabilities $ 3,594  $ 3,100 
Finance Leases:
Property, plant and equipment, net $ 1,145  $ 1,225 
Current maturities of long-term debt, commercial paper and finance leases $ 65  $ 56 
Long-term debt and finance leases 354  286 
Total finance lease liabilities $ 419  $ 342 
Weighted average remaining lease term (in years):
Operating leases 12.1 11.2
Finance leases 11.0 9.3
Weighted average discount rate:
Operating leases 1.99  % 2.28  %
Finance leases 3.82  % 4.14  %
Operating Leases Maturity Schedule Maturities of lease liabilities as of June 30, 2021 are as follows (in millions):
Finance Leases Operating Leases
2021 $ 40  $ 305 
2022 76  609 
2023 60  515 
2024 39  426 
2025 34  382 
Thereafter 279  1,902 
Total lease payments 528  4,139 
Less: Imputed interest (109) (545)
Total lease obligations 419  3,594 
Less: Current obligations (65) (556)
Long-term lease obligations $ 354  $ 3,038 
Finance Leases Maturity Schedule Maturities of lease liabilities as of June 30, 2021 are as follows (in millions):
Finance Leases Operating Leases
2021 $ 40  $ 305 
2022 76  609 
2023 60  515 
2024 39  426 
2025 34  382 
Thereafter 279  1,902 
Total lease payments 528  4,139 
Less: Imputed interest (109) (545)
Total lease obligations 419  3,594 
Less: Current obligations (65) (556)
Long-term lease obligations $ 354  $ 3,038