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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Lease, Cost | The components of lease cost for the years ended December 31, 2021, 2020 and 2019 were:
(in millions) | 2021 |  | 2020 |  | 2019
Operating lease cost | $ | 114 |  |  | $ | 115 |  |  | $ | 121 |
Finance lease cost |  |  |  |  |
Amortization of right-of-use assets | 7 |  |  | 5 |  |  | 5 |
Interest on lease liabilities | 5 |  |  | 5 |  |  | 5 |
Variable lease cost | 52 |  |  | 54 |  |  | 89 |
Lease cost | $ | 178 |  |  | $ | 179 |  |  | $ | 220 |
The following table contains supplemental cash flow information related to leases for the years ended December 31, 2021, 2020 and 2019:
(in millions) | 2021 |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 124 |  |  | $ | 127 |  |  | $ | 119 |
Operating cash flows from finance leases | 5 |  |  | 4 |  |  | 4 |
Financing cash flows from finance leases | 4 |  |  | 4 |  |  | 4 |
Right-of-use operating lease assets obtained in exchange for lease obligations | 71 |  |  | 67 |  |  | 207 |
Right-of-use finance lease assets obtained in exchange for lease obligations | 4 |  |  | 8 |  |  | — |
There are no material lease transactions that we entered into but have not yet commenced as ofLease term and discount rates as of December 31, 2021 and 2020 were:
| December 31, 2021 |  | December 31, 2020
Weighted-average remaining lease term (years) |  |  |
Operating leases | 8 |  | 9
Finance leases | 12 |  | 13
Weighted-average discount rate |  |  |
Operating leases | 1.8 | % |  | 2.2 | %
Finance leases | 9.3 | % |  | 10.3 | %
Assets And Liabilities, Lessee | Supplemental balance sheet information related to leases as of December 31, 2021 and 2020 include:
(in millions) | 2021 |  | 2020
Operating leases |  |  |
Operating lease right-of-use assets | $ | 630 |  |  | $ | 603 |
Accrued expenses and other current liabilities | $ | 128 |  |  | $ | 111 |
Operating lease liabilities | 522 |  |  | 501 |
Total operating lease liabilities | $ | 650 |  |  | $ | 612 |
Finance leases |  |  |
Property, plant and equipment, at cost | $ | 86 |  |  | $ | 76 |
Accumulated depreciation | (31) |  |  | (28) |
Property, plant and equipment, net | $ | 55 |  |  | $ | 48 |
Current maturities of long-term debt and finance lease obligations | $ | 2 |  |  | $ | 1 |
Long-term debt and finance lease obligations | 68 |  |  | 64 |
Total finance lease liabilities | $ | 70 |  |  | $ | 65 |
Lessee, Operating Lease, Liability, Maturity | Maturities of operating and finance lease liabilities as of December 31, 2021 were:
(in millions) | Finance Leases | Operating Leases
2022 | $ | 10 |  | $ | 141 |
2023 | 9 |  | 118 |
2024 | 9 |  | 95 |
2025 | 9 |  | 76 |
2026 | 9 |  | 60 |
Thereafter | 72 |  | 216 |
Total minimum lease payments | 118 |  | 706 |
Less: imputed interest | (48) |  | (56) |
Present value of lease liabilities | $ | 70 |  | $ | 650 |
Finance Lease, Liability, Maturity | Maturities of operating and finance lease liabilities as of December 31, 2021 were:
(in millions) | Finance Leases | Operating Leases
2022 | $ | 10 |  | $ | 141 |
2023 | 9 |  | 118 |
2024 | 9 |  | 95 |
2025 | 9 |  | 76 |
2026 | 9 |  | 60 |
Thereafter | 72 |  | 216 |
Total minimum lease payments | 118 |  | 706 |
Less: imputed interest | (48) |  | (56) |
Present value of lease liabilities | $ | 70 |  | $ | 650 |
Operating Lease, Lease Income | The components of lease revenue for the years ended December 31, 2021, 2020 and 2019 were:
(in millions) | 2021 |  | 2020 |  | 2019
Sales-type lease revenue | $ | 27 |  |  | $ | 38 |  |  | $ | 35 |
Operating lease revenue | 136 |  |  | 84 |  |  | 61 |
Variable lease revenue | 79 |  |  | 80 |  |  | 85 |
Total lease revenue | $ | 242 |  |  | $ | 202 |  |  | $ | 181 |
Sales-type Lease, Lease Income | The components of our net investment in sales-type leases as of December 31, 2021 and 2020 were:
(in millions) | 2021 |  | 2020
Minimum lease payments | $ | 111 |  |  | $ | 122 |
Unguaranteed residual values | 4 |  |  | 12 |
Net investment in leases | $ | 115 |  |  | $ | 134 |
Our net investment in sales-type leases is classified as follows in the accompanying consolidated balance sheets:
(in millions) | December 31, 2021 |  | December 31, 2020
Accounts receivable, net | $ | 40 |  |  | $ | 39 |
Other non-current assets | 75 |  |  | 95 |
Total | $ | 115 |  |  | $ | 134 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | Maturities of sales-type and operating leases as of December 31, 2021 were:
(in millions) | Sales-type Leases | Operating Leases
2022 | $ | 43 |  | $ | 87 |
2023 | 32 |  | 79 |
2024 | 22 |  | 75 |
2025 | 12 |  | 60 |
2026 | 5 |  | 11 |
Thereafter | 1 |  | 2 |
Total minimum lease payments | 115 |  | $ | 314 |
Less: imputed interest | (4) |  |
Present value of minimum lease payments | $ | 111 |  |
Lessor, Operating Lease, Payments to be Received, Maturity | Maturities of sales-type and operating leases as of December 31, 2021 were:
(in millions) | Sales-type Leases | Operating Leases
2022 | $ | 43 |  | $ | 87 |
2023 | 32 |  | 79 |
2024 | 22 |  | 75 |
2025 | 12 |  | 60 |
2026 | 5 |  | 11 |
Thereafter | 1 |  | 2 |
Total minimum lease payments | 115 |  | $ | 314 |
Less: imputed interest | (4) |  |
Present value of minimum lease payments | $ | 111 |  |

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