Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of Lease Cost
The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in millions):
2024 2023 2022
Operating lease costs $ 912  $ 860  $ 736 
Finance lease costs:
Amortization of assets $ 145  $ 119  $ 112 
Interest on lease liabilities 23  18  14 
Total finance lease costs 168  137  126 
Variable lease costs 311  279  270 
Short-term lease costs 1,079  1,166  1,499 
Total lease costs(1)
$ 2,470  $ 2,442  $ 2,631 
(1)    This table excludes sublease income for all periods presented as it was not material.
Supplemental cash flow information related to leases for the years ended December 31, 2024 and 2023 is as follows (in millions):
2024 2023
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases $ 877  $ 835 
Operating cash flows from finance leases 20  17 
Financing cash flows from finance leases 136  126 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 740  $ 1,278 
Finance leases 120  209 
Supplemental Balance Sheet
Supplemental information related to leases and location within our consolidated balance sheets as of December 31, 2024 and 2023 are as follows (in millions, except lease term and discount rate):
2024 2023
Operating Leases:
Operating lease right-of-use assets $ 4,149  $ 4,308 
Current maturities of operating leases $ 733  $ 709 
Non-current operating leases 3,635  3,756 
Total operating lease obligations $ 4,368  $ 4,465 
Finance Leases:
Property, plant and equipment, net $ 657  $ 856 
Current maturities of long-term debt, commercial paper and finance leases $ 104  $ 104 
Long-term debt and finance leases 351  368 
Total finance lease obligations $ 455  $ 472 
Weighted average remaining lease term (in years):
Operating leases 10.4 10.8
Finance leases 11.1 7.4
Weighted average discount rate:
Operating leases 3.50  % 3.20  %
Finance leases 3.84  % 3.88  %
Finance Leases Maturity Schedule
Future payments for lease obligations as of December 31, 2024 are as follows (in millions):
Finance Leases Operating Leases
2025 $ 115  $ 847 
2026 87  765 
2027 55  659 
2028 47  504 
2029 38  388 
Thereafter 207  2,049 
Total lease payments 549  5,212 
Less: Imputed interest (94) (844)
Total lease obligations 455  4,368 
Less: Current obligations (104) (733)
Long-term lease obligations $ 351  $ 3,635 
Operating Leases Maturity Schedule
Future payments for lease obligations as of December 31, 2024 are as follows (in millions):
Finance Leases Operating Leases
2025 $ 115  $ 847 
2026 87  765 
2027 55  659 
2028 47  504 
2029 38  388 
Thereafter 207  2,049 
Total lease payments 549  5,212 
Less: Imputed interest (94) (844)
Total lease obligations 455  4,368 
Less: Current obligations (104) (733)
Long-term lease obligations $ 351  $ 3,635