Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Lease Cost
The components of lease expense for the three months ended March 31, 2021 and 2020 were as follows (in millions):
Three Months Ended
March 31,
2021 2020
Operating lease costs $ 175  $ 175 
Finance lease costs:
Amortization of assets 23  18 
Interest on lease liabilities 4  5 
Total finance lease costs 27  23 
Variable lease costs 65  58 
Short-term lease costs 279  203 
Total lease costs $ 546  $ 459 
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended
March 31,
2021 2020
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 171  $ 175 
Operating cash flows from finance leases 1  2 
Financing cash flows from finance leases 13  6 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases $ 174  $ 305 
Finance leases 23  10 
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,
2021		 December 31,
2020
Operating Leases:
Operating lease right-of-use assets $ 3,044  $ 3,073 
Current maturities of operating leases $ 548  $ 560 
Non-current operating leases 2,524  2,540 
Total operating lease liabilities $ 3,072  $ 3,100 
Finance Leases:
Property, plant and equipment, net $ 1,167  $ 1,225 
Current maturities of long-term debt, commercial paper and finance leases $ 61  $ 56 
Long-term debt and finance leases 291  286 
Total finance lease liabilities $ 352  $ 342 
Weighted average remaining lease term (in years):
Operating leases 12.4 11.2
Finance leases 8.9 9.3
Weighted average discount rate:
Operating leases 2.17  % 2.28  %
Finance leases 4.02  % 4.14  %
Operating Leases Maturity Schedule
Maturities of lease liabilities as of March 31, 2021 are as follows (in millions):
Finance Leases Operating Leases
2021 $ 61  $ 457 
2022 70  569 
2023 55  467 
2024 34  344 
2025 29  266 
Thereafter 188  1,504 
Total lease payments 437  3,607 
Less: Imputed interest (85) (535)
Total lease obligations 352  3,072 
Less: Current obligations (61) (548)
Long-term lease obligations $ 291  $ 2,524 
Finance Leases Maturity Schedule
Maturities of lease liabilities as of March 31, 2021 are as follows (in millions):
Finance Leases Operating Leases
2021 $ 61  $ 457 
2022 70  569 
2023 55  467 
2024 34  344 
2025 29  266 
Thereafter 188  1,504 
Total lease payments 437  3,607 
Less: Imputed interest (85) (535)
Total lease obligations 352  3,072 
Less: Current obligations (61) (548)
Long-term lease obligations $ 291  $ 2,524