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Lease Commitments (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Assets And Liabilities Of Lessee | The classification of operating and finance lease asset and liability balances within the Consolidated Statement of Financial Position is as follows (in millions):
As of December 31 |  | 2020 | 2019 |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Operating lease assets | Operating lease right-of-use assets | $ | 911 |  | $ | 929 |  |  |  |  |  |  |  |  |  |  |
Finance lease assets | Other non-current assets | 89 |  | 100 |  |  |  |  |  |  |  |  |  |  |
Total lease assets |  | $ | 1,000 |  | $ | 1,029 |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Current lease liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Other current liabilities | $ | 204 |  | $ | 186 |  |  |  |  |  |  |  |  |  |  |
Finance | Other current liabilities | 30 |  | 24 |  |  |  |  |  |  |  |  |  |  |
Non-current lease liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Non-current operating lease liabilities | 897 |  | 944 |  |  |  |  |  |  |  |  |  |  |
Finance | Other non-current liabilities | 65 |  | 76 |  |  |  |  |  |  |  |  |  |  |
Total lease liabilities |  | $ | 1,196 |  | $ | 1,230 |  |  |  |  |  |  |  |  |  |  |
Lease, Cost | The components of lease costs are as follows (in millions):
| Years Ended December 31
| 2020 | 2019
Operating lease cost | $ | 221 |  | $ | 234 |
Finance lease costs |  |
Amortization of leased assets | 25 |  | 26 |
Interest on lease liabilities | 3 |  | 2 |
Variable lease cost | 48 |  | 60 |
Short-term lease cost (1) | 10 |  | 5 |
Sublease income | (32) |  | (32) |
Net lease cost | $ | 275 |  | $ | 295 |
(1) Short-term lease cost does not include expenses related to leases with a lease term of one month or less. Weighted average remaining lease term and discount rate related to operating and finance leases are as follows:
As of December 31 | 2020 | 2019 |  |  |  |  |  |  |  |  |
Weighted average remaining lease term (years) |  |  |  |  |  |  |  |  |  |  |
Operating leases | 7.4 | 7.9 |  |  |  |  |  |  |  |  |
Finance leases | 4.2 | 4.4 |  |  |  |  |  |  |  |  |
Weighted average discount rate |  |  |  |  |  |  |  |  |  |  |
Operating leases | 2.9 | % | 3.2 | % |  |  |  |  |  |  |  |  |
Finance leases | 1.0 | % | 2.0 | % |  |  |  |  |  |  |  |  |
Other cash and non-cash related activities are as follows (in millions):
| Years Ended December 31 |  |  |  |  |  |  |  |  |  |
| 2020 | 2019 |  |  |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows for operating leases | $ | 236 |  | $ | 264 |  |  |  |  |  |  |  |  |  |  |
Financing cash flows for finance leases | $ | 12 |  | $ | 17 |  |  |  |  |  |  |  |  |  |  |
Non-cash related activities |  |  |  |  |  |  |  |  |  |  |  |
ROU assets obtained in exchange for new operating lease liabilities | $ | 146 |  | $ | 155 |  |  |  |  |  |  |  |  |  |  |
ROU assets obtained in exchange for new finance lease liabilities | $ | 13 |  | $ | 48 |  |  |  |  |  |  |  |  |  |  |
Operating lease ROU asset expense (1) | $ | 178 |  | $ | 195 |  |  |  |  |  |  |  |  |  |  |
Changes in Non-current operating lease liabilities (1) | $ | (47) |  | $ | (70) |  |  |  |  |  |  |  |  |  |  |
(1)The Company has recorded non-cash changes in Operating lease ROU assets and Non-current operating lease liabilities through Other assets and liabilities in Cash flows from operations within the Consolidated Statement of Cash Flows.
Lessee Operating Lease Liability Maturity | Maturity analysis of operating and finance leases as of December 31, 2020 are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total |  |
2021 | $ | 226 |  |  | $ | 31 |  |  | $ | 257 |  |  |  |  |
2022 | 209 |  |  | 20 |  |  | 229 |  |  |  |  |
2023 | 160 |  |  | 18 |  |  | 178 |  |  |  |  |
2024 | 130 |  |  | 18 |  |  | 148 |  |  |  |  |
2025 | 110 |  |  | 10 |  |  | 120 |  |  |  |  |
Thereafter | 382 |  |  | — |  |  | 382 |  |  |  |  |
Total undiscounted future minimum lease payments | 1,217 |  |  | 97 |  |  | 1,314 |  |  |  |  |
Less: Imputed interest | (116) |  |  | (2) |  |  | (118) |  |  |  |  |
Present value of lease liabilities | $ | 1,101 |  |  | $ | 95 |  |  | $ | 1,196 |  |  |  |  |
Finance Lease, Liability, Maturity | Maturity analysis of operating and finance leases as of December 31, 2020 are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total |  |
2021 | $ | 226 |  |  | $ | 31 |  |  | $ | 257 |  |  |  |  |
2022 | 209 |  |  | 20 |  |  | 229 |  |  |  |  |
2023 | 160 |  |  | 18 |  |  | 178 |  |  |  |  |
2024 | 130 |  |  | 18 |  |  | 148 |  |  |  |  |
2025 | 110 |  |  | 10 |  |  | 120 |  |  |  |  |
Thereafter | 382 |  |  | — |  |  | 382 |  |  |  |  |
Total undiscounted future minimum lease payments | 1,217 |  |  | 97 |  |  | 1,314 |  |  |  |  |
Less: Imputed interest | (116) |  |  | (2) |  |  | (118) |  |  |  |  |
Present value of lease liabilities | $ | 1,101 |  |  | $ | 95 |  |  | $ | 1,196 |  |  |  |  |

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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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- 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=121609121&loc=SL77918701-209980 + Details
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