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Leases (Tables)

3 Months Ended

Mar. 31, 2020



		Mar. 31,		Dec. 31,
Millions	Classification	2020		2019
Assets
Operating leases	Operating lease assets	$	1,773	$	1,812
Finance leases	Net properties [a]		444		468
Total leased assets		$	2,217	$	2,280
Liabilities
Current
Operating	Accounts payable and other current liabilities	$	326	$	362
Finance	Debt due within one year		119		114
Noncurrent
Operating	Operating lease liabilities		1,339		1,471
Finance	Debt due after one year		433		491
Total lease liabilities		$	2,217	$	2,438

[a] Finance lease assets are recorded net of accumulated amortization of $766 million and $797 million as of March 31, 2020 and December 31, 2019.

Schedule of Lease Cost

‎

The lease cost components are classified as follows:



Millions,
for the Three Months Ended March 31,	Classification		2020		2019
Operating lease cost [a]	Equipment and other rents	$	69	$	93
Finance lease cost
Amortization of leased assets	Depreciation		17		18
Interest on lease liabilities	Interest expense		7		9
Net lease cost		$	93	$	120

[a] Includes short-term lease costs of $0.0 million and $0.2 million for the three months ended March 31, 2020, and 2019, respectively, and variable lease costs of $1.8 million and $1.9 million for the three months ended March 31, 2020, and 2019, respectively.

Future Minimum Lease Payments For Operating And Finance Leases

The following table presents aggregate lease maturities as of March 31, 2020:



Millions		Operating Leases		Finance Leases		Total
2020	$	147	$	84	$	231
2021		302		142		444
2022		267		127		394
2023		226		88		314
2024		216		75		291
After 2024		777		124		901
Total lease payments	$	1,935	$	640	$	2,575
Less: Interest		270		88		358
Present value of lease liabilities	$	1,665	$	552	$	2,217

Weighted Average Remaining Lease Term and Discount Rate

The following table presents the weighted average remaining lease term and discount rate:



	Mar. 31,
	2020
Weighted-average remaining lease term (years)
Operating leases		8.3
Finance leases		5.8
Weighted-average discount rate
Operating leases		3.7
Finance leases		5.2

Schedule of Leases - Other Information

The following table presents other information related to our operating and finance leases:



Millions,
for the Three Months Ended March 31,	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	210		215
Operating cash flows from finance leases		13		17
Financing cash flows from finance leases		41		58
Leased assets obtained in exchange for finance lease liabilities		-		-
Leased assets obtained in exchange for operating lease liabilities		45		9