Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.23.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Lease Cost The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows (in millions):
2023 2022
Operating lease costs $ 207  $ 183 
Finance lease costs:
Amortization of assets 29  28 
Interest on lease liabilities 4  4 
Total finance lease costs 33  32 
Variable lease costs 72  68 
Short-term lease costs 277  302 
Total lease costs(1)
$ 589  $ 585 
(1) This table excludes sublease income as it was not material to the three months ended March 31, 2023 or 2022.
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended
 March 31,
2023 2022
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases $ 212  $ 176 
Operating cash flows from finance leases 1  1 
Financing cash flows from finance leases 48  18 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 498  $ 119 
Finance leases $ 30  $ 59 
Supplemental Balance Sheet Supplemental information related to leases and location within our consolidated balance sheets is as follows (in millions, except lease term and discount rate):
March 31,
2023		 December 31,
2022
Operating Leases:
Operating lease right-of-use assets $ 4,089  $ 3,755 
Current maturities of operating leases $ 668  $ 621 
Non-current operating leases 3,539  3,238 
Total operating lease obligations $ 4,207  $ 3,859 
Finance Leases:
Property, plant and equipment, net $ 869  $ 959 
Current maturities of long-term debt, commercial paper and finance leases $ 68  $ 92 
Long-term debt and finance leases 297  298 
Total finance lease obligations $ 365  $ 390 
Weighted average remaining lease term (in years):
Operating leases 11.2 10.8
Finance leases 8.8 8.4
Weighted average discount rate:
Operating leases 2.73  % 2.32  %
Finance leases 3.28  % 3.17  %
Operating Leases Maturity Schedule Maturities of lease obligations as of March 31, 2023 were as follows (in millions):
Finance Leases Operating Leases
2023 $ 73  $ 576 
2024 62  705 
2025 48  632 
2026 39  543 
2027 38  472 
Thereafter 183  2,038 
Total lease payments 443  4,966 
Less: Imputed interest (78) (759)
Total lease obligations 365  4,207 
Less: Current obligations (68) (668)
Long-term lease obligations $ 297  $ 3,539 
Finance Leases Maturity Schedule Maturities of lease obligations as of March 31, 2023 were as follows (in millions):
Finance Leases Operating Leases
2023 $ 73  $ 576 
2024 62  705 
2025 48  632 
2026 39  543 
2027 38  472 
Thereafter 183  2,038 
Total lease payments 443  4,966 
Less: Imputed interest (78) (759)
Total lease obligations 365  4,207 
Less: Current obligations (68) (668)
Long-term lease obligations $ 297  $ 3,539