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Leases (Tables)
 6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Lease-Related Assets and Liabilities
Lease-related assets and liabilities recorded on the unaudited Condensed Consolidated Balance Sheet were as follows:
 
 
 
(in millions)
Balance Sheet location
June 30, 2019
Assets
 
 
Operating
Operating lease right-of-use assets (net)
$
1,424

Finance
Property and equipment (net of allowance for depreciation and amortization of $401)
862

Total lease assets
 
$
2,286

 
 
 
Liabilities
 
 
Current
 
 
Operating
Current operating lease liabilities
$
350

Finance
Current maturities of long-term debt
86

Noncurrent
 
 
Operating
Noncurrent operating lease liabilities
1,072

Finance
Long-term debt less current maturities
608

Total lease liabilities
 
$
2,116
Components of Lease Cost
The components of lease costs, included in the unaudited Condensed Consolidated Statement of Comprehensive Income, were as follows:
(in millions)
Statement of Comprehensive Income location
Three months ended June 30, 2019
 
Six months ended June 30, 2019
Operating lease cost - aircraft (a)
Other operating expenses
$
44

 
$
88

Operating lease cost - other
Landing fees and airport rentals, and Other operating expenses

22

 
44

Short-term lease cost
Other operating expenses
1

 
2

Variable lease cost
Landing fees and airport rentals, and Other operating expenses

349

 
679

Finance lease cost:
 
 
 
 
Amortization of lease liabilities
Depreciation and amortization

29

 
58

Interest on lease liabilities
Interest expense
7

 
14

Total net lease cost
 
$
452

 
$
885

(a) Net of sublease income of $25 million and $50 million for the three and six months ended June 30, 2019, respectively.
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information related to leases, included in the unaudited Condensed Consolidated Statement of Cash Flows, was as follows:
 
 
 
 
(in millions)
Three months ended June 30, 2019
 
Six months ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows for operating leases
$
107

 
$
203

Operating cash flows for finance leases
7

 
14

Financing cash flows for finance leases
21

 
43

Right-of-use assets obtained in exchange for lease obligations:
 
 
 
Operating leases
5

 
124

Finance leases
—

 
1

 
 
 
 
Finance lease maturity
As of June 30, 2019, maturities of lease liabilities were as follows:
(in millions)
Operating leases
 
Finance leases
Remainder of 2019
$
210

 
$
55

2020
344

 
109

2021
213

 
104

2022
140

 
101

2023
110

 
97

Thereafter
752

 
339

Total lease payments
$
1,769

 
$
805

Less imputed interest
(347
)
 
(111
)
Total lease obligations
1,422

 
694

Less current obligations
(350
)
 
(86
)
Long-term lease obligations
$
1,072

 
$
608
Lessee Operating and Finance Leases Weighted Average Assumptions
The table below presents additional information related to the Company's leases as of June 30, 2019:
 
As of June 30, 2019
Weighted average remaining lease term
 
Operating leases
9 years

Finance leases
8 years

 
 
Weighted average discount rate
 
Operating leases (a)
3.8
%
Finance leases
3.8
%
(a) Upon adoption of the New Lease Standard, the incremental borrowing rate used for existing leases was established as of January 1, 2019.
Operating lease maturity
As of June 30, 2019, maturities of lease liabilities were as follows:
(in millions)
Operating leases
 
Finance leases
Remainder of 2019
$
210

 
$
55

2020
344

 
109

2021
213

 
104

2022
140

 
101

2023
110

 
97

Thereafter
752

 
339

Total lease payments
$
1,769

 
$
805

Less imputed interest
(347
)
 
(111
)
Total lease obligations
1,422

 
694

Less current obligations
(350
)
 
(86
)
Long-term lease obligations
$
1,072

 
$
608
Future Minimum Lease Payments Under Capital Leases And Noncancelable Operating Leases
Future minimum lease payments under capital leases and noncancelable operating leases and rentals to be received under subleases with initial or remaining terms in excess of one year at December 31, 2018, were as follows:

(in millions)
 
Capital
leases
 
Operating
leases
 
Subleases
 
Operating
leases, net
2019
 
$
111

 
$
348

 
$
(92
)
 
$
256

2020
 
109

 
357

 
(78
)
 
279

2021
 
105

 
244

 
(41
)
 
203

2022
 
100

 
172

 
(17
)
 
155

2023
 
97

 
146

 
(7
)
 
139

Thereafter
 
335

 
474

 
(1
)
 
473

Total minimum lease payments
 
$
857

 
$
1,741

 
$
(236
)
 
$
1,505

Less amount representing interest
 
126

 
 
 
 
 
 
Present value of minimum lease payments (a)
 
731

 
 
 
 
 
 
Less current portion
 
85

 
 
 
 
 
 
Long-term portion
 
$
646

 
 
 
 
 
 
(a) Excludes lease incentive obligation of $114 million