XML 25 R12.htm IDEA: XBRL DOCUMENT v3.21.2
Leases
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Leases
Note 5 – Leases    
The components of our lease expense were as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2020202120202021
Lease cost
Finance lease cost:
      Amortization of assets$53 $53 $146 $166 
      Interest on lease liabilities4 2 12 9 
Operating lease cost170 70 381 220 
Short-term lease cost4 2 14 6 
Variable lease cost21 24 83 66 
Sublease income(1)(3)(2)(4)
Total lease cost$251 $148 $634 $463 
We did not enter into nor commence any new material operating or finance leases during the three and nine months ended September 30, 2021. The assumptions used to value leases for the periods presented were as follows:
As of
December 31, 2020September 30, 2021
Weighted-average remaining lease term
     Operating leases16 years16 years
     Finance leases2 years2 years
Weighted-average discount rate
     Operating leases7.0 %7.1 %
     Finance leases5.4 %4.5 %
Maturities of lease liabilities were as follows (in millions):
As of September 30, 2021
Operating LeasesFinance Leases
Remainder of 2021$29 $47 
2022310 145 
2023284 44 
2024238 17 
2025189 1 
Thereafter2,109 — 
Total undiscounted lease payments3,159 254 
Less: imputed interest(1,503)(11)
Total lease liabilities$1,656 $243 
As of September 30, 2021, we had additional operating leases and finance leases, primarily for corporate offices and servers, that have not yet commenced of $568 million and $15 million, respectively. These operating and finance leases will commence between fiscal years 2021 and 2023 with lease terms ranging from 1 year to 11 years.
Leases
Note 5 – Leases    
The components of our lease expense were as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2020202120202021
Lease cost
Finance lease cost:
      Amortization of assets$53 $53 $146 $166 
      Interest on lease liabilities4 2 12 9 
Operating lease cost170 70 381 220 
Short-term lease cost4 2 14 6 
Variable lease cost21 24 83 66 
Sublease income(1)(3)(2)(4)
Total lease cost$251 $148 $634 $463 
We did not enter into nor commence any new material operating or finance leases during the three and nine months ended September 30, 2021. The assumptions used to value leases for the periods presented were as follows:
As of
December 31, 2020September 30, 2021
Weighted-average remaining lease term
     Operating leases16 years16 years
     Finance leases2 years2 years
Weighted-average discount rate
     Operating leases7.0 %7.1 %
     Finance leases5.4 %4.5 %
Maturities of lease liabilities were as follows (in millions):
As of September 30, 2021
Operating LeasesFinance Leases
Remainder of 2021$29 $47 
2022310 145 
2023284 44 
2024238 17 
2025189 1 
Thereafter2,109 — 
Total undiscounted lease payments3,159 254 
Less: imputed interest(1,503)(11)
Total lease liabilities$1,656 $243 
As of September 30, 2021, we had additional operating leases and finance leases, primarily for corporate offices and servers, that have not yet commenced of $568 million and $15 million, respectively. These operating and finance leases will commence between fiscal years 2021 and 2023 with lease terms ranging from 1 year to 11 years.