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Leases (Tables) | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Schedule of Leases | The following are additional details related to our lease portfolio:
|  | Sep. 30, | Dec. 31,
Millions | Classification | 2020 | 2019
Assets |  |  |  |  |
Operating leases | Operating lease assets | $ | 1,642 | $ | 1,812
Finance leases | Net properties [a] |  | 444 |  | 468
Total leased assets |  | $ | 2,086 | $ | 2,280
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating leases | Accounts payable and other current liabilities | $ | 308 | $ | 362
Finance leases | Debt due within one year |  | 95 |  | 114
Noncurrent |  |  |  |  |
Operating leases | Operating lease liabilities |  | 1,293 |  | 1,471
Finance leases | Debt due after one year |  | 374 |  | 491
Total lease liabilities |  | $ | 2,070 | $ | 2,438
[a] Finance lease assets are recorded net of accumulated amortization of $723 million and $797 million as of September 30, 2020, and December 31, 2019.
Schedule of Lease Cost | ‎ The lease cost components are classified as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
Millions | Classification | 2020 | 2019 |  | 2020 | 2019
Operating lease cost [a] | Equipment and other rents | $ | 70 | $ | 75 |  | $ | 207 | $ | 253
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of leased assets | Depreciation |  | 16 |  | 18 |  |  | 50 |  | 54
Interest on lease liabilities | Interest expense |  | 7 |  | 9 |  |  | 21 |  | 26
Net lease cost |  | $ | 93 | $ | 102 |  | $ | 278 | $ | 333
[a] Includes short-term lease costs of $0.6 million and $0.1 million for the three months ended September 30, 2020 and 2019, respectively, and $1.4 million and $0.5 million for the nine months ended September 30, 2020 and 2019, respectively, and variable lease costs of $1.8 million and $2.3 million for the three months ended September 30, 2020 and 2019, respectively, and $5.0 million and $6.3 million for the nine months ended September 30, 2020 and 2019, respectively.
Future Minimum Lease Payments For Operating And Finance Leases | The following table presents aggregate lease maturities as of September 30, 2020:
Millions |  | Operating Leases |  | Finance Leases |  | Total
2020 | $ | 41 | $ | 15 | $ | 56
2021 |  | 304 |  | 141 |  | 445
2022 |  | 269 |  | 115 |  | 384
2023 |  | 226 |  | 81 |  | 307
2024 |  | 218 |  | 68 |  | 286
After 2024 |  | 784 |  | 122 |  | 906
Total lease payments | $ | 1,842 | $ | 542 | $ | 2,384
Less: Interest |  | 241 |  | 73 |  | 314
Present value of lease liabilities | $ | 1,601 | $ | 469 | $ | 2,070
Weighted Average Remaining Lease Term and Discount Rate | The following table presents the weighted average remaining lease term and discount rate:
| Sep. 30,
| 2020
Weighted-average remaining lease term (years) |  |
Operating leases |  | 8.1
Finance leases |  | 5.5
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 Nine Months Ended September 30, | 2020 | 2019
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases | $ | 313 |  | 315
Operating cash flows from finance leases |  | 25 |  | 30
Financing cash flows from finance leases |  | 102 |  | 102
Leased assets obtained in exchange for finance lease liabilities |  | - |  | -
Leased assets obtained in exchange for operating lease liabilities |  | 54 |  | 62

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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