Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Lease Cost The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows (in millions):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
Operating lease costs $ 183  $ 180  $ 537  $ 527 
Finance lease costs:
Amortization of assets 24  20  70  58 
Interest on lease liabilities 4  4  11  14 
Total finance lease costs 28  24  81  72 
Variable lease costs 51  58  178  171 
Short-term lease costs 305  260  835  716 
Total lease costs $ 567  $ 522  $ 1,631  $ 1,486 
Supplemental cash flow information related to leases is as follows (in millions):
Nine Months Ended
September 30,
2021 2020
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 538  $ 508 
Operating cash flows from finance leases 8  11 
Financing cash flows from finance leases 48  136 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases $ 953  $ 544 
Finance leases 252  50 
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,
2021		 December 31,
2020
Operating Leases:
Operating lease right-of-use assets $ 3,460  $ 3,073 
Current maturities of operating leases $ 552  $ 560 
Non-current operating leases 2,938  2,540 
Total operating lease liabilities $ 3,490  $ 3,100 
Finance Leases:
Property, plant and equipment, net $ 1,260  $ 1,225 
Current maturities of long-term debt, commercial paper and finance leases $ 268  $ 56 
Long-term debt and finance leases 274  286 
Total finance lease liabilities $ 542  $ 342 
Weighted average remaining lease term (in years):
Operating leases 11.8 11.2
Finance leases 5.6 9.3
Weighted average discount rate:
Operating leases 1.98  % 2.28  %
Finance leases 2.14  % 4.14  %
Operating Leases Maturity Schedule Maturities of lease liabilities as of September 30, 2021 are as follows (in millions):
Finance Leases Operating Leases
2021 $ 166  $ 127 
2022 138  629 
2023 58  533 
2024 35  440 
2025 30  392 
Thereafter 195  1,889 
Total lease payments 622  4,010 
Less: Imputed interest (80) (520)
Total lease obligations 542  3,490 
Less: Current obligations (268) (552)
Long-term lease obligations $ 274  $ 2,938 
Finance Leases Maturity Schedule Maturities of lease liabilities as of September 30, 2021 are as follows (in millions):
Finance Leases Operating Leases
2021 $ 166  $ 127 
2022 138  629 
2023 58  533 
2024 35  440 
2025 30  392 
Thereafter 195  1,889 
Total lease payments 622  4,010 
Less: Imputed interest (80) (520)
Total lease obligations 542  3,490 
Less: Current obligations (268) (552)
Long-term lease obligations $ 274  $ 2,938