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Leases (Tables) | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Lease costs and supplemental cash flow information | The following table is a summary of the components of net lease cost for the year ended December 31, 2019:
In millions | 2019
Operating lease cost | $ | 2,720 |
Finance lease cost: |
Amortization of right-of-use assets | 38 |
Interest on lease liabilities | 44 |
Total finance lease costs | 82 |
Short-term lease costs | 24 |
Variable lease costs | 581 |
Less: sublease income | 50 |
Net lease cost | $ | 3,357 |
Supplemental cash flow information related to leases for the year ended December 31, 2019 is as follows:
In millions | 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows paid for operating leases | $ | 2,701 |
Operating cash flows paid for interest portion of finance leases | 44 |
Financing cash flows paid for principal portion of finance leases | 26 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | 1,824 |
Finance leases | 283 |
Supplemental balance sheet information | Supplemental balance sheet information related to leases as of December 31, 2019 is as follows:
In millions, except remaining lease term and discount rate |
Operating leases: |
Operating lease right-of-use assets | $ | 20,860 |
Current portion of operating lease liabilities | $ | 1,596 |
Long-term operating lease liabilities | 18,926 |
Total operating lease liabilities | $ | 20,522 |
Finance leases: (1) |
Property and equipment, gross | $ | 790 |
Accumulated depreciation (2) | (38 | )
Property and equipment, net | $ | 752 |
Current portion of long-term debt | $ | 27 |
Long-term debt | 781 |
Total finance lease liabilities | $ | 808 |
Weighted average remaining lease term (in years) |
Operating leases | 13.8 |
Finance leases | 20.5 |
Weighted average discount rate |
Operating leases | 4.6 | %
Finance leases | 6.7 | %
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(1) | Finance lease right-of-use assets are included within property and equipment, net and the respective finance lease liabilities are included in current portion of long-term debt and long-term debt on the consolidated balance sheets.
(2) | In accordance with ASC 842, upon adoption the net carrying value of the prior capital leases became the initial basis of the Company’s finance leases. As a result, upon adoption there was no accumulated amortization associated with such finance leases.
Maturities of operating lease liabilities | The following table summarizes the maturity of lease liabilities under finance and operating leases as of December 31, 2019:
In millions | Finance Leases |  | Operating Leases (1) |  | Total
2020 | $ | 84 |  |  | $ | 2,699 |  |  | $ | 2,783 |
2021 | 82 |  |  | 2,598 |  |  | 2,680 |
2022 | 79 |  |  | 2,444 |  |  | 2,523 |
2023 | 77 |  |  | 2,335 |  |  | 2,412 |
2024 | 76 |  |  | 2,103 |  |  | 2,179 |
Thereafter | 1,056 |  |  | 15,654 |  |  | 16,710 |
Total lease payments (2) | 1,454 |  |  | 27,833 |  |  | 29,287 |
Less: imputed interest | (646 | ) |  | (7,311 | ) |  | (7,957 | )
Total lease liabilities | $ | 808 |  |  | $ | 20,522 |  |  | $ | 21,330 |
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(1) | Future operating lease payments have not been reduced by minimum sublease rentals of $315 million due in the future under noncancelable subleases.
(2) The Company leases pharmacy and clinic space from Target Corporation. Amounts related to such finance and operating leases are reflected above. Pharmacy lease amounts due in excess of the remaining estimated economic life of the buildings of approximately $2.2 billion are not reflected in this table since the estimated economic life of the buildings is shorter than the contractual term of the pharmacy lease arrangement.
Maturities of financing lease liabilities | The following table summarizes the maturity of lease liabilities under finance and operating leases as of December 31, 2019:
In millions | Finance Leases |  | Operating Leases (1) |  | Total
2020 | $ | 84 |  |  | $ | 2,699 |  |  | $ | 2,783 |
2021 | 82 |  |  | 2,598 |  |  | 2,680 |
2022 | 79 |  |  | 2,444 |  |  | 2,523 |
2023 | 77 |  |  | 2,335 |  |  | 2,412 |
2024 | 76 |  |  | 2,103 |  |  | 2,179 |
Thereafter | 1,056 |  |  | 15,654 |  |  | 16,710 |
Total lease payments (2) | 1,454 |  |  | 27,833 |  |  | 29,287 |
Less: imputed interest | (646 | ) |  | (7,311 | ) |  | (7,957 | )
Total lease liabilities | $ | 808 |  |  | $ | 20,522 |  |  | $ | 21,330 |
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(1) | Future operating lease payments have not been reduced by minimum sublease rentals of $315 million due in the future under noncancelable subleases.
(2) | The Company leases pharmacy and clinic space from Target Corporation. Amounts related to such finance and operating leases are reflected above. Pharmacy lease amounts due in excess of the remaining estimated economic life of the buildings of approximately $2.2 billion are not reflected in this table since the estimated economic life of the buildings is shorter than the contractual term of the pharmacy lease arrangement.
Schedule of net rental expense | The following table is a summary of the Company’s net rental expense for operating leases for the years ended December 31, 2018 and 2017:
In millions | 2018 |  | 2017
Minimum rentals | $ | 2,528 |  |  | $ | 2,455 |
Contingent rentals | 28 |  |  | 29 |
Rental expense | 2,556 |  |  | 2,484 |
Less: sublease income | (21 | ) |  | (24 | )
Total rental expense, net | $ | 2,535 |  |  | $ | 2,460 |
Schedule of capital leased assets | The amount of property and equipment under capital leases at December 31, 2018 was as follows:
In millions | 2018
Property and equipment under capital leases | $ | 582 |
Accumulated amortization of property and equipment under capital leases | (163 | )
Property and equipment under capital leases, net | $ | 419 |

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