Quarterly report [Sections 13 or 15(d)]

LEASES (Tables)

v3.25.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Lease Cost
The components of lease expense for the three months ended March 31, 2025 and 2024 were as follows (in millions):
2025 2024
Operating lease costs $ 231  $ 231 
Finance lease costs:
Amortization of assets 35  35 
Interest on lease liabilities 7  5 
Total finance lease costs 42  40 
Variable lease costs 72  76 
Short-term lease costs 212  199 
Total lease costs(1)
$ 557  $ 546 
(1)    This table excludes sublease income as it was not material for the three months ended March 31, 2025 and 2024.
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended
 March 31,
2025 2024
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases $ 238  $ 227 
Operating cash flows from finance leases 3  3 
Financing cash flows from finance leases 30  26 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 16  $ 151 
Finance leases 32  14 
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,
2025		 December 31,
2024
Operating Leases:
Operating lease right-of-use assets $ 4,015  $ 4,149 
Current maturities of operating leases $ 720  $ 733 
Non-current operating leases 3,505  3,635 
Total operating lease obligations $ 4,225  $ 4,368 
Finance Leases:
Property, plant and equipment, net $ 644  $ 657 
Current maturities of long-term debt, commercial paper and finance leases $ 98  $ 104 
Long-term debt and finance leases 361  351 
Total finance lease obligations $ 459  $ 455 
Operating Leases Maturity Schedule
Maturities of lease obligations as of March 31, 2025 were as follows (in millions):
Finance Leases Operating Leases
2025 $ 93  $ 637 
2026 93  799 
2027 61  689 
2028 54  528 
2029 43  408 
Thereafter 222  1,989 
Total lease payments 566  5,050 
Less: Imputed interest (107) (825)
Total lease obligations 459  4,225 
Less: Current obligations (98) (720)
Long-term lease obligations $ 361  $ 3,505 
Finance Leases Maturity Schedule
Maturities of lease obligations as of March 31, 2025 were as follows (in millions):
Finance Leases Operating Leases
2025 $ 93  $ 637 
2026 93  799 
2027 61  689 
2028 54  528 
2029 43  408 
Thereafter 222  1,989 
Total lease payments 566  5,050 
Less: Imputed interest (107) (825)
Total lease obligations 459  4,225 
Less: Current obligations (98) (720)
Long-term lease obligations $ 361  $ 3,505