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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Lease Cost and Additional Information | The following chart provides additional information about the Company’s property leases:
For the Three and Nine Months Ended September 30, 2019 (In millions) | Three Months Ended September 30, | Nine Months Ended September 30,
Lease Cost: |  |
Operating lease cost | $ | 94 |  | $ | 276 |
Short-term lease cost | 4 |  | 7 |
Variable lease cost | 37 |  | 113 |
Sublease income | (4 | ) | (12 | )
Net lease cost | $ | 131 |  | $ | 384 |
Other information: |  |
Operating cash outflows from operating leases |  | $ | 288 |
Right of use assets obtained in exchange for new operating lease liabilities |  | $ | 112 |
Weighted-average remaining lease term – real estate |  | 8.86 years |
Weighted-average discount rate – real estate leases |  | 3.09 | %
Future Minimum Lease Payments for Operating Leases | Future minimum lease payments for the Company’s operating leases as of September 30, 2019 are as follows:
Payment Dates (In millions) | Real Estate Leases
Remainder of 2019 | $ | 104 |
2020 | 406 |
2021 | 348 |
2022 | 324 |
2023 | 279 |
2024 | 233 |
Subsequent years | 940 |
Total future lease payments | 2,634 |
Less: Imputed interest | (336 | )
Total | $ | 2,298 |
Current lease liabilities | $ | 341 |
Long-term lease liabilities | 1,957 |
Total lease liabilities | $ | 2,298 |
Note: Table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a right to use asset or liability in the consolidated balance sheets.
Aggregate Fixed Future Minimum Commitments | At December 31, 2018, the aggregate future minimum rental commitments under all non-cancelable operating lease agreements are as follows:
For the Year Ended December 31, | Gross Rental Commitments |  | Rentals from Subleases |  | Net Rental Commitments
(In millions of dollars) |  |
2019 | $ | 361 |  |  | $ | 32 |  |  | $ | 329 |
2020 | $ | 340 |  |  | $ | 31 |  |  | $ | 309 |
2021 | $ | 277 |  |  | $ | 12 |  |  | $ | 265 |
2022 | $ | 252 |  |  | $ | 10 |  |  | $ | 242 |
2023 | $ | 214 |  |  | $ | 9 |  |  | $ | 205 |
Subsequent years | $ | 753 |  |  | $ | 32 |  |  | $ | 721 |

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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=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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