Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Lease Cost
The components of lease expense for the three and six months ended June 30, 2020 and 2019 were as follows (in millions):
Three Months Ended
June 30,		 Six Months Ended
June 30,
2020 2019 2020 2019
Operating lease costs $ 172    166    $ 347    $ 323   
Finance lease costs:
Amortization of assets 20    18    38    37   
Interest on lease liabilities 5    4    10    9   
Total finance lease costs 25    22    48    46   
Variable lease costs 55    31    113    79   
Short-term lease costs 253    209    456    439   
Total lease costs $ 505    $ 428    $ 964    $ 887   
Supplemental cash flow information related to leases is as follows (in millions):
Six Months Ended
June 30,
2020 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 338    $ 311   
Operating cash flows from finance leases 10    9   
Financing cash flows from finance leases 33    85   
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases $ 403    $ 56   
Finance leases 49    3   
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):
June 30,
2020		 December 31,
2019
Operating Leases:
Operating lease right-of-use assets $ 2,998    $ 2,856   
Current maturities of operating leases $ 534    $ 538   
Non-current operating leases 2,463    2,391   
Total operating lease liabilities $ 2,997    $ 2,929   
Finance Leases:
Property, plant and equipment, net $ 1,403    $ 1,502   
Current maturities of long-term debt, commercial paper and finance leases $ 183    $ 181   
Long-term debt and finance leases 332    317   
Total finance lease liabilities $ 515    $ 498   
Weighted average remaining lease term (in years):
Operating leases 9.6 9.7
Finance leases 8.2 8.9
Weighted average discount rate:
Operating leases 2.76  % 2.78  %
Finance leases 3.81  % 4.03  %
Operating Leases Maturity Schedule
Maturities of lease liabilities as of June 30, 2020 are as follows (in millions):
Finance Leases Operating Leases
2020 $ 168    $ 299   
2021 60    596   
2022 55    506   
2023 44    411   
2024 36    300   
Thereafter 259    1,420   
Total lease payments 622    3,532   
Less: Imputed interest (107)   (535)  
Total lease obligations 515    2,997   
Less: Current obligations (183)   (534)  
Long-term lease obligations $ 332    $ 2,463   
Finance Leases Maturity Schedule
Maturities of lease liabilities as of June 30, 2020 are as follows (in millions):
Finance Leases Operating Leases
2020 $ 168    $ 299   
2021 60    596   
2022 55    506   
2023 44    411   
2024 36    300   
Thereafter 259    1,420   
Total lease payments 622    3,532   
Less: Imputed interest (107)   (535)  
Total lease obligations 515    2,997   
Less: Current obligations (183)   (534)  
Long-term lease obligations $ 332    $ 2,463