Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

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LEASES (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Lease Cost
The components of lease expense for the three months ended March 31, 2024 and 2023 were as follows (in millions):
2024 2023
Operating lease costs $ 231  $ 207 
Finance lease costs:
Amortization of assets 35  29 
Interest on lease liabilities 5  4 
Total finance lease costs 40  33 
Variable lease costs 76  72 
Short-term lease costs 199  277 
Total lease costs(1)
$ 546  $ 589 
(1) This table excludes sublease income as it was not material for the three months ended March 31, 2024 or 2023.
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended
 March 31,
2024 2023
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases $ 227  $ 212 
Operating cash flows from finance leases 3  1 
Financing cash flows from finance leases 26  48 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 151  $ 498 
Finance leases $ 14  $ 30 
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,
2024		 December 31,
2023
Operating Leases:
Operating lease right-of-use assets $ 4,223  $ 4,308 
Current maturities of operating leases $ 694  $ 709 
Non-current operating leases 3,690  3,756 
Total operating lease obligations $ 4,384  $ 4,465 
Finance Leases:
Property, plant and equipment, net $ 727  $ 856 
Current maturities of long-term debt, commercial paper and finance leases $ 108  $ 104 
Long-term debt and finance leases 352  368 
Total finance lease obligations $ 460  $ 472 
Weighted average remaining lease term (in years):
Operating leases 10.7 10.8
Finance leases 7.2 7.4
Weighted average discount rate:
Operating leases 3.30  % 3.20  %
Finance leases 3.91  % 3.88  %
Operating Leases Maturity Schedule
Maturities of lease obligations as of March 31, 2024 were as follows (in millions):
Finance Leases Operating Leases
2024 $ 101  $ 609 
2025 102  807 
2026 77  697 
2027 47  596 
2028 41  449 
Thereafter 173  2,102 
Total lease payments 541  5,260 
Less: Imputed interest (81) (876)
Total lease obligations 460  4,384 
Less: Current obligations (108) (694)
Long-term lease obligations $ 352  $ 3,690 
Finance Leases Maturity Schedule
Maturities of lease obligations as of March 31, 2024 were as follows (in millions):
Finance Leases Operating Leases
2024 $ 101  $ 609 
2025 102  807 
2026 77  697 
2027 47  596 
2028 41  449 
Thereafter 173  2,102 
Total lease payments 541  5,260 
Less: Imputed interest (81) (876)
Total lease obligations 460  4,384 
Less: Current obligations (108) (694)
Long-term lease obligations $ 352  $ 3,690