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Leases | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Leases | Leases The Company leases office facilities under non-cancelable operating leases with terms generally ranging between 10 and 25 years. The Company utilizes these leased office facilities for use by its employees in countries in which the Company conducts its business. None of the Company’s leases restrict the payment of dividends or the incurrence of debt or additional lease obligations, or contain significant purchase options. Operating leases are recognized on the balance sheet as ROU assets and operating lease liabilities based on the present value of the remaining future minimum payments over the lease term at commencement date of the lease. The Company determined that $16 million and $28 million of its ROU assets were impaired, and therefore, recorded a charge to the consolidated statement of income for the year ended December 31, 2021 and 2020, respectively, with an offsetting reduction to ROU assets. The following table provides additional information about the Company’s property leases:
For the Years Ended December 31, (In millions, except weighted average data) |  | 2021 | 2020
Lease Cost: |  |  |
Operating lease cost(a) |  | $ | 374 |  | $ | 396 |
Short-term lease cost |  | 4 |  | 3 |
Variable lease cost |  | 144 |  | 138 |
Sublease income |  | (20) |  | (19) |
Net lease cost |  | $ | 502 |  | $ | 518 |
Other information: |  |  |
Operating cash outflows from operating leases |  | $ | 412 |  | $ | 420 |
Right of use assets obtained in exchange for new operating lease liabilities |  | $ | 348 |  | $ | 261 |
Weighted-average remaining lease term – real estate |  | 8.87 years | 8.42 years
Weighted-average discount rate – real estate leases |  | 2.72 | % | 2.94 | %
(a) Excludes ROU asset impairment charges. Future minimum lease payments for the Company’s operating leases as of December 31, 2021 are as follows:
Payment Dates (In millions) | Real Estate Leases
2022 | $ | 389 |
2023 | 350 |
2024 | 307 |
2025 | 276 |
2026 | 253 |
Subsequent years | 924 |
Total future lease payments | 2,499 |
Less: imputed interest | (287) |
Total | $ | 2,212 |
Current lease liabilities | $ | 332 |
Long-term lease liabilities | 1,880 |
Total lease liabilities | $ | 2,212 |
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. As of December 31, 2021, the Company had additional operating real estate leases that had not yet com menced of $13 million. These operating leases will commence over the next 12 months.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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