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Leases (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lease, Cost [Table Text Block] | Following are components of our lease cost:
| Year Ended December 31,
| 2020 |  | 2019
| (In millions)
Operating leases | $ | 55 |  |  | $ | 136 |
Short-term and variable leases | 101 |  |  | 92 |
Total lease cost(a) | $ | 156 |  |  | $ | 228 |
(a)2020 and 2019 amounts include $25 million and $46 million of capitalized lease costs. Other information related to our operating leases are as follows:
| Year Ended December 31,
| 2020 |  | 2019
| (In millions, except lease term and discount rate)
Operating cash flows from operating leases | $ | (131) |  |  | $ | (182) |
Investing cash flows from operating leases | (25) |  |  | (46) |
ROU assets obtained in exchange for operating lease obligations, net of retirements adjusted for currency conversion | 20 |  |  | 102 |
Amortization of ROU assets | 46 |  |  | 75 |
Removal of ROU assets and liabilities associated with the KML and U.S. Cochin Sale | — |  |  | (394) |
Weighted average remaining lease term | 11.56 years |  | 13.40 years
Weighted average discount rate | 4.27 | % |  | 4.31 | %
Amounts recognized in the accompanying consolidated balance sheet are as follows:
|  | December 31,
Lease Activity | Balance sheet location | 2020 |  | 2019
|  | (In millions)
ROU assets | Deferred charges and other assets | $ | 303 |  |  | $ | 329 |
Short-term lease liability | Other current liabilities | 40 |  |  | 40 |
Long-term lease liability | Other long-term liabilities and deferred credits | 263 |  |  | 289 |
Finance lease assets | Property, plant and equipment, net | 1 |  |  | 2 |
Finance lease liabilities | Long-term debt—Outstanding | 1 |  |  | 2 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating lease liabilities under non-cancellable leases (excluding short-term leases) as of December 31, 2020 are as follows:
Year | Commitment
| (In millions)
2021 | $ | 53 |
2022 | 46 |
2023 | 38 |
2024 | 34 |
2025 | 30 |
Thereafter | 211 |
Total lease payments | 412 |
Less: Interest | (109) |
Present value of lease liabilities | $ | 303 |

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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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