XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.20.2

Leases Leases (Notes) | 9 Months Ended
--- | ---
Sep. 30, 2020
Leases [Abstract] |
Leases of Lessee Disclosure [Text Block] | Accounting The Company leases certain transportation equipment, plant equipment, office equipment, land, buildings, and storage facilities. Most leases include options to renew, with renewal terms that can extend the lease term from 10 months to 49 years. Certain leases also include index and non-index escalation clauses and options to purchase the leased property. Leases accounted for as finance leases were immaterial at September 30, 2020. As an accounting policy election, the Company does not apply the recognition requirements of Topic 842 to short-term leases in all of its underlying asset categories. The Company recognizes short-term lease payments in earnings on a straight-line basis over the lease term, and variable lease payments in the period in which the obligation for those payments is incurred. The following table sets forth the amounts relating to the Company’s total lease cost and other information.
| Three Months Ended | Nine Months Ended
| Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2020 | Sep 30, 2019
| (In millions)
Lease cost: |  |  |  |
Operating lease cost | $ | 84 |  | $ | 51 |  | $ | 231 |  | $ | 197 |
Short-term lease cost | 19 |  | 24 |  | 73 |  | 71 |
Total lease cost | $ | 103 |  | $ | 75 |  | $ | 304 |  | $ | 268 |
Other information: |  |  |  |
Operating lease liability principal payments |  |  | $ | 222 |  | $ | 149 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | $ | 244 |  | $ | 192 |
|  |  | Sep 30, 2020 | Dec 31, 2019
Weighted-average remaining lease term - operating leases (in years) |  |  |  |  | 7 |  | 7 |
Weighted average discount rate - operating leases |  |  |  | 4.3 | % | 4.6 | %
Below is a tabular disclosure of the future annual undiscounted cash flows for operating lease liabilities.
| Undiscounted
| Cash Flows
| (In millions)
Remainder of 2020 | $ | 76 |
2021 | 284 |
2022 | 252 |
2023 | 204 |
2024 | 144 |
2025 | 83 |
Thereafter | 250 |
Total | 1,293 |
Less interest (1) | (180 | )
Lease liability | $ | 1,113 |
(1) Calculated using the implicit rate of the lease, if available, or the incremental borrowing rate that is appropriate for the tenor and geography of the lease. As of September 30, 2020 and December 31, 2019, the Company had right-of-use assets included in Other assets of $1.1 billion and $1.0 billion, respectively, current lease liabilities included in Accrued expenses and other payables of $251 million and $215 million, respectively, and non-current lease liabilities included in Other long-term liabilities of $862 million and $781 million, respectively, in its consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
Name: | us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration