Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Lease Cost
The components of lease expense for the three months ended March 31, 2020 and 2019 were as follows (in millions):
Three Months Ended
March 31,
2020 2019
Operating lease costs $ 175    $ 157   
Finance lease costs:
Amortization of assets 18    19   
Interest on lease liabilities 5    5   
Total finance lease costs 23    24   
Variable lease costs 58    48   
Short-term lease costs 203    230   
Total lease costs $ 459    $ 459   
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended
March 31,
2020 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 175    $ 153   
Operating cash flows from finance leases 2    2   
Financing cash flows from finance leases 6    4   
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases $ 305    $ 34   
Finance leases 10    1   
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,
2020		 December 31,
2019
Operating Leases:
Operating lease right-of-use assets $ 3,041    $ 2,856   
Current maturities of operating leases $ 526    $ 538   
Non-current operating leases 2,493    2,391   
Total operating lease liabilities $ 3,019    $ 2,929   
Finance Leases:
Property, plant and equipment, net $ 1,387    $ 1,502   
Current maturities of long-term debt, commercial paper and finance leases $ 181    $ 181   
Long-term debt and finance leases 319    317   
Total finance lease liabilities $ 500    $ 498   
Weighted average remaining lease term (in years):
Operating leases 9.6 9.7
Finance leases 8.6 8.9
Weighted average discount rate:
Operating leases 2.81  % 2.78  %
Finance leases 4.05  % 4.03  %
Operating Leases Maturity Schedule
Maturities of lease liabilities as of March 31, 2020 are as follows (in millions):
Finance Leases Operating Leases
2020 $ 191    $ 454   
2021 47    576   
2022 41    489   
2023 39    397   
2024 36    289   
Thereafter 259    1,413   
Total lease payments 613    3,618   
Less: Imputed interest (113)   (599)  
Total lease obligations 500    3,019   
Less: Current obligations (181)   (526)  
Long-term lease obligations $ 319    $ 2,493   
Finance Leases Maturity Schedule
Maturities of lease liabilities as of March 31, 2020 are as follows (in millions):
Finance Leases Operating Leases
2020 $ 191    $ 454   
2021 47    576   
2022 41    489   
2023 39    397   
2024 36    289   
Thereafter 259    1,413   
Total lease payments 613    3,618   
Less: Imputed interest (113)   (599)  
Total lease obligations 500    3,019   
Less: Current obligations (181)   (526)  
Long-term lease obligations $ 319    $ 2,493