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Leases | 6 Months Ended
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Mar. 28, 2020
Leases [Abstract] |
Leases | Leases The Company has lease arrangements for certain equipment and facilities, including retail, corporate, manufacturing and data center space. These leases typically have original terms not exceeding 10 years and generally contain multi-year renewal options, some of which are reasonably certain of exercise. The Company’s lease arrangements may contain both lease and non-lease components. The Company has elected to combine and account for lease and non-lease components as a single lease component for leases of retail, corporate, and data center facilities. Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $363 million and $732 million for the three- and six-month periods ended March 28, 2020, respectively. Lease costs associated with variable payments on the Company’s leases were $1.9 billion and $4.8 billion for the three- and six-month periods ended March 28, 2020, respectively. For the three- and six-month periods ended March 28, 2020, the Company made $353 million and $702 million of fixed cash payments related to operating leases, respectively. Non-cash activities involving ROU assets obtained in exchange for lease liabilities were $1.2 billion and $9.3 billion for the three- and six-month periods ended March 28, 2020, respectively, including the impact of adopting the new leases standard in the first quarter of 2020. The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of March 28, 2020 (in millions):
Lease-Related Assets and Liabilities |  | Financial Statement Line Items |  | March 28, 2020
Right-of-use assets: |  |  |  |
Operating leases |  | Other non-current assets |  | $ | 8,097 |
Finance leases |  | Property, plant and equipment, net |  | 631 |
Total right-of-use assets |  |  |  | $ | 8,728 |
Lease liabilities: |  |  |  |
Operating leases |  | Other current liabilities |  | $ | 1,185 |
|  | Other non-current liabilities |  | 7,421 |
Finance leases |  | Other current liabilities |  | 19 |
|  | Other non-current liabilities |  | 629 |
Total lease liabilities |  |  |  | $ | 9,254 |
Lease liability maturities as of March 28, 2020, are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2020 (remaining six months) | $ | 559 |  |  | $ | 14 |  |  | $ | 573 |
2021 | 1,428 |  |  | 40 |  |  | 1,468 |
2022 | 1,298 |  |  | 38 |  |  | 1,336 |
2023 | 1,091 |  |  | 49 |  |  | 1,140 |
2024 | 951 |  |  | 26 |  |  | 977 |
Thereafter | 4,269 |  |  | 920 |  |  | 5,189 |
Total undiscounted liabilities | 9,596 |  |  | 1,087 |  |  | 10,683 |
Less: Imputed interest | (990 | ) |  | (439 | ) |  | (1,429 | )
Total lease liabilities | $ | 8,606 |  |  | $ | 648 |  |  | $ | 9,254 |
The weighted-average remaining lease term and discount rate related to the Company’s lease liabilities as of March 28, 2020 were 10.7 years and 2.2%, respectively. The Company’s lease discount rates are generally based on estimates of its incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined. As of March 28, 2020, the Company had $1.8 billion of future payments under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases will commence between 2020 and 2022, with lease terms ranging from less than 1 year to 21 years.
Leases | Note 12 – Leases The Company has lease arrangements for certain equipment and facilities, including retail, corporate, manufacturing and data center space. These leases typically have original terms not exceeding 10 years and generally contain multi-year renewal options, some of which are reasonably certain of exercise. The Company’s lease arrangements may contain both lease and non-lease components. The Company has elected to combine and account for lease and non-lease components as a single lease component for leases of retail, corporate, and data center facilities. Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $363 million and $732 million for the three- and six-month periods ended March 28, 2020, respectively. Lease costs associated with variable payments on the Company’s leases were $1.9 billion and $4.8 billion for the three- and six-month periods ended March 28, 2020, respectively. For the three- and six-month periods ended March 28, 2020, the Company made $353 million and $702 million of fixed cash payments related to operating leases, respectively. Non-cash activities involving ROU assets obtained in exchange for lease liabilities were $1.2 billion and $9.3 billion for the three- and six-month periods ended March 28, 2020, respectively, including the impact of adopting the new leases standard in the first quarter of 2020. The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of March 28, 2020 (in millions):
Lease-Related Assets and Liabilities |  | Financial Statement Line Items |  | March 28, 2020
Right-of-use assets: |  |  |  |
Operating leases |  | Other non-current assets |  | $ | 8,097 |
Finance leases |  | Property, plant and equipment, net |  | 631 |
Total right-of-use assets |  |  |  | $ | 8,728 |
Lease liabilities: |  |  |  |
Operating leases |  | Other current liabilities |  | $ | 1,185 |
|  | Other non-current liabilities |  | 7,421 |
Finance leases |  | Other current liabilities |  | 19 |
|  | Other non-current liabilities |  | 629 |
Total lease liabilities |  |  |  | $ | 9,254 |
Lease liability maturities as of March 28, 2020, are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2020 (remaining six months) | $ | 559 |  |  | $ | 14 |  |  | $ | 573 |
2021 | 1,428 |  |  | 40 |  |  | 1,468 |
2022 | 1,298 |  |  | 38 |  |  | 1,336 |
2023 | 1,091 |  |  | 49 |  |  | 1,140 |
2024 | 951 |  |  | 26 |  |  | 977 |
Thereafter | 4,269 |  |  | 920 |  |  | 5,189 |
Total undiscounted liabilities | 9,596 |  |  | 1,087 |  |  | 10,683 |
Less: Imputed interest | (990 | ) |  | (439 | ) |  | (1,429 | )
Total lease liabilities | $ | 8,606 |  |  | $ | 648 |  |  | $ | 9,254 |
The weighted-average remaining lease term and discount rate related to the Company’s lease liabilities as of March 28, 2020 were 10.7 years and 2.2%, respectively. The Company’s lease discount rates are generally based on estimates of its incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined. As of March 28, 2020, the Company had $1.8 billion of future payments under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases will commence between 2020 and 2022, with lease terms ranging from less than 1 year to 21 years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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