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Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2020

Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows:


	At December 31, 2020						At December 31, 2019
	Operating Leases			Finance Leases			Operating Leases			Finance Leases

Deferred charges and other assets	$	3,949		$	—		$	4,074		$	—
Properties, plant and equipment, net	—			455			—			329
Right-of-use assets1	$	3,949		$	455		$	4,074		$	329
Accrued Liabilities	$	1,291		$	—		$	1,277		$	—
Short-term Debt	—			186			—			18
Current lease liabilities	1,291			186			1,277			18
Deferred credits and other noncurrent obligations	2,615			—			2,608			—
Long-term Debt	—			447			—			282
Noncurrent lease liabilities	2,615			447			2,608			282
Total lease liabilities	$	3,906		$	633		$	3,885		$	300

Weighted-average remaining lease term (in years)	7.2			10.4			5.2			16.0
Weighted-average discount rate	2.8		%	3.9		%	3.2		%	4.7		%

1 Includes non-cash additions of $1,353 and $164 in 2020, and $1,201 and $184 in 2019 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively. 2020 includes $566 in operating lease right-of-use assets and $566 lease liabilities associated with the Puma acquisition. 2020 also includes $124 in operating lease right-of-use assets and $148 lease liabilities, and $112 in finance lease right-of-use assets and $309 lease liabilities associated with the Noble acquisition.

Lease, Cost

Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows:


	Year-ended December 31
	2020		2019
Operating lease costs1, 2	$	2,551	$	2,621
Finance lease costs	45		66
Total lease costs	$	2,596	$	2,687

1 Net rental expense of $816 for 2018.

2 Includes variable and short-term lease costs.

Cash paid for amounts included in the measurement of lease liabilities was as follows:


	Year-ended December 31
	2020		2019
Operating cash flows from operating leases	$	1,744	$	1,574
Investing cash flows from operating leases	762		1,047
Operating cash flows from finance leases	14		13
Financing cash flows from finance leases	34		24

Lessee, Operating Lease, Liability, Maturity

At December 31, 2020, the estimated future undiscounted cash flows for operating and finance leases were as follows:


		At December 31, 2020
		Operating Leases		Finance Leases

Year	2021	$	1,376	$	204
	2022	779		60
	2023	497		58
	2024	338		56
	2025	255		53
	Thereafter	1,112		331
	Total	$	4,357	$	762
Less: Amounts representing interest		451		129
Total lease liabilities		$	3,906	$	633

Finance Lease, Liability, Maturity

At December 31, 2020, the estimated future undiscounted cash flows for operating and finance leases were as follows:


		At December 31, 2020
		Operating Leases		Finance Leases

Year	2021	$	1,376	$	204
	2022	779		60
	2023	497		58
	2024	338		56
	2025	255		53
	Thereafter	1,112		331
	Total	$	4,357	$	762
Less: Amounts representing interest		451		129
Total lease liabilities		$	3,906	$	633