Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Lease Cost The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows (in millions):
2022 2021
Operating lease costs $ 183  $ 175 
Finance lease costs:
Amortization of assets 28  23 
Interest on lease liabilities 4  4 
Total finance lease costs 32  27 
Variable lease costs 68  65 
Short-term lease costs 302  279 
Total lease costs $ 585  $ 546 
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended March 31,
2022 2021
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases $ 176  $ 171 
Operating cash flows from finance leases 1  1 
Financing cash flows from finance leases 18  13 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 119  $ 174 
Finance leases 59  23 
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):
March 31,
2022		 December 31,
2021
Operating Leases:
Operating lease right-of-use assets $ 3,481  $ 3,562 
Current maturities of operating leases $ 579  $ 580 
Non-current operating leases 2,970  3,033 
Total operating lease obligations $ 3,549  $ 3,613 
Finance Leases:
Property, plant and equipment, net $ 1,134  $ 1,225 
Current maturities of long-term debt, commercial paper and finance leases $ 140  $ 129 
Long-term debt and finance leases 308  279 
Total finance lease obligations $ 448  $ 408 
Weighted average remaining lease term (in years):
Operating leases 11.5 11.7
Finance leases 7.6 8.0
Weighted average discount rate:
Operating leases 1.95  % 1.94  %
Finance leases 2.71  % 2.79  %
Operating Leases Maturity Schedule Maturities of lease obligations as of March 31, 2022 are as follows (in millions):
Finance Leases Operating Leases
2022 $ 137  $ 478 
2023 76  595 
2024 52  497 
2025 39  441 
2026 33  395 
Thereafter 197  1,663 
Total lease payments 534  4,069 
Less: Imputed interest (86) (520)
Total lease obligations 448  3,549 
Less: Current obligations (140) (579)
Long-term lease obligations $ 308  $ 2,970 
Finance Leases Maturity Schedule Maturities of lease obligations as of March 31, 2022 are as follows (in millions):
Finance Leases Operating Leases
2022 $ 137  $ 478 
2023 76  595 
2024 52  497 
2025 39  441 
2026 33  395 
Thereafter 197  1,663 
Total lease payments 534  4,069 
Less: Imputed interest (86) (520)
Total lease obligations 448  3,549 
Less: Current obligations (140) (579)
Long-term lease obligations $ 308  $ 2,970