Leases

12 Months Ended

Dec. 31, 2021

LEASES

Our operating leases consist primarily of properties and equipment for our administrative, manufacturing and R&D activities. Some of our leases include options to extend the terms for up to 15 years and some include options to terminate the lease within one year after the lease commencement date. As of December 31, 2021 and 2020, we did not have material finance leases. Operating lease expense, including variable costs and short-term leases, was $156 million, $171 million and $162 million in 2021, 2020 and 2019, respectively.

The following table summarizes balance sheet and other information related to our operating leases:


		December 31,
(in millions, except weighted average amounts)	Classification	2021			2020
Right-of-use assets, net	Other long-term assets	$	542		$	646
Lease liabilities - current	Accrued and other current liabilities	$	101		$	107
Lease liabilities - noncurrent	Other long-term obligations	$	489		$	608
Weighted average remaining lease term		8.5 years			8.6 years
Weighted average discount rate		3.00		%	3.32		%

The following table summarizes other supplemental information related to our operating leases:


	Year Ended December 31,
(in millions)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities	$	123	$	66
Right-of-use assets obtained in exchange for lease liabilities	$	88	$	88

The following table summarizes a maturity analysis of our operating lease liabilities showing the aggregate lease payments as of December 31, 2021:


(in millions)	Amount
2022	$	117
2023	108
2024	92
2025	61
2026	50
Thereafter	249
Total undiscounted lease payments	677
Less: imputed interest	87
Total discounted lease payments	$	590