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Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Leases
We are a party to operating and finance leases primarily for our corporate and health plan offices. Our operating leases have remaining lease terms up to 14 years, some of which include options to extend the leases for up to 10 years. As of December 31, 2021, the weighted average remaining operating lease term is 8 years.
Our finance leases have remaining lease terms up to 17 years, some of which include options to extend the leases for up to 25 years. As of December 31, 2021, the weighted average remaining finance lease term is 14 years.
As of December 31, 2021, the weighted-average discount rate used to compute the present value of lease payments was 4.3% for operating lease liabilities, and 6.4% for finance lease liabilities. The components of lease expense for the years ended December 31, 2021, and 2020, are presented in the following table.
Year Ended December 31,
20212020
(In millions)
Operating lease expense$34 $28 
Finance lease expense:
Amortization of ROU assets$25 $19 
Interest on lease liabilities15 15 
Total finance lease expense$40 $34 
Supplemental consolidated cash flow information related to leases follows:
Year Ended December 31,
20212020
(In millions)
Cash used in operating activities:
Operating leases$33 $30 
Finance leases15 15 
Cash used in financing activities:
Finance leases18 9 
ROU assets recognized in exchange for lease obligations:
Operating leases86 28 
Finance leases$18 $7 
Supplemental information related to leases, including location of amounts reported in the accompanying consolidated balance sheets, follows:
December 31,
20212020
(In millions)
Operating leases:
ROU assets
Other assets$128 $58 
Other assets - Magellan Complete Care acquisition opening balance— 13 
Total other assets$128 $71 
Lease liabilities
Accounts payable and accrued liabilities (current)$35 $21 
Other long-term liabilities (non-current)99 42 
Magellan Complete Care acquisition opening balance— 13 
Total operating lease liabilities$134 $76 
Finance leases:
ROU assets
Property, equipment, and capitalized software, net$206 $216 
Lease liabilities
Accounts payable and accrued liabilities (current)$15 $12 
Finance lease liabilities (non-current)219 225 
Total finance lease liabilities
$234 $237 
Maturities of lease liabilities as of December 31, 2021, were as follows:
Operating Finance
LeasesLeases
(In millions)
2022$30 $29 
202326 27 
202420 24 
202516 22 
202610 23 
Thereafter61 243 
Subtotal - undiscounted lease payments163 368 
Less imputed interest(29)(134)
Total$134 $234 
Leases Leases
We are a party to operating and finance leases primarily for our corporate and health plan offices. Our operating leases have remaining lease terms up to 14 years, some of which include options to extend the leases for up to 10 years. As of December 31, 2021, the weighted average remaining operating lease term is 8 years.
Our finance leases have remaining lease terms up to 17 years, some of which include options to extend the leases for up to 25 years. As of December 31, 2021, the weighted average remaining finance lease term is 14 years.
As of December 31, 2021, the weighted-average discount rate used to compute the present value of lease payments was 4.3% for operating lease liabilities, and 6.4% for finance lease liabilities. The components of lease expense for the years ended December 31, 2021, and 2020, are presented in the following table.
Year Ended December 31,
20212020
(In millions)
Operating lease expense$34 $28 
Finance lease expense:
Amortization of ROU assets$25 $19 
Interest on lease liabilities15 15 
Total finance lease expense$40 $34 
Supplemental consolidated cash flow information related to leases follows:
Year Ended December 31,
20212020
(In millions)
Cash used in operating activities:
Operating leases$33 $30 
Finance leases15 15 
Cash used in financing activities:
Finance leases18 9 
ROU assets recognized in exchange for lease obligations:
Operating leases86 28 
Finance leases$18 $7 
Supplemental information related to leases, including location of amounts reported in the accompanying consolidated balance sheets, follows:
December 31,
20212020
(In millions)
Operating leases:
ROU assets
Other assets$128 $58 
Other assets - Magellan Complete Care acquisition opening balance— 13 
Total other assets$128 $71 
Lease liabilities
Accounts payable and accrued liabilities (current)$35 $21 
Other long-term liabilities (non-current)99 42 
Magellan Complete Care acquisition opening balance— 13 
Total operating lease liabilities$134 $76 
Finance leases:
ROU assets
Property, equipment, and capitalized software, net$206 $216 
Lease liabilities
Accounts payable and accrued liabilities (current)$15 $12 
Finance lease liabilities (non-current)219 225 
Total finance lease liabilities
$234 $237 
Maturities of lease liabilities as of December 31, 2021, were as follows:
Operating Finance
LeasesLeases
(In millions)
2022$30 $29 
202326 27 
202420 24 
202516 22 
202610 23 
Thereafter61 243 
Subtotal - undiscounted lease payments163 368 
Less imputed interest(29)(134)
Total$134 $234