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Leases (Tables) | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Schedule of Leases Recorded on Balance Sheet | Leases recorded on the balance sheet consist of the following:
(In millions) |  | Classification on the Balance Sheet |  | December 31, 2021 |  | December 31, 2020
Assets: |  |  |  |  |  |
Operating lease ROU assets (a) |  | Other assets, net |  | $ | 662 |  |  | $ | 457 |
Liabilities: |  |  |  |  |  |
Current operating lease liabilities (a) |  | Accrued other liabilities |  | 49 |  |  | 53 |
Non-current operating lease liabilities (a) |  | Other long-term liabilities |  | 726 |  |  | 516 |
___________________ (a)As noted above, we have elected the short-term lease measurement and recognition exemption and do not establish ROU assets or liabilities for operating leases with terms of 12 months or less.
Schedule of Other Information Related to Lease Terms and Discount Rates |
Lease Terms and Discount Rate | December 31,
| 2021 |  | 2020
Weighted Average Remaining Lease Term (in years) | 28.8 |  | 25.6
Weighted Average Discount Rate | 8.1 | % |  | 8.4 | %
Components of Lease Expense |
Components of Lease Expense |  |  |  |
|  | Years Ended December 31,
(In millions) |  | 2021 |  | 2020
Operating lease expense |  | $ | 128 |  |  | $ | 53 |
Short-term and variable lease expense |  | 104 |  |  | 50 |
Total operating lease costs |  | $ | 232 |  |  | $ | 103 |
Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases is as follows:
Cash payments included in the measurement of lease liabilities |  |  |
| Years Ended December 31,
(In millions) | 2021 |  | 2020
Operating cash flows for operating leases | $ | 96 |  |  | $ | 49 |
Summary of Maturities of Lease Liabilities |
Maturities of Lease Liabilities |
(In millions) | Operating Leases
2022 | $ | 108 |
2023 | 104 |
2024 | 69 |
2025 | 65 |
2026 | 64 |
Thereafter | 2,011 |
Total future minimum lease payments | 2,421 |
Less: present value factor | (1,646) |
Total lease liability | $ | 775 |
Schedule of Future Minimum Lease Payments for Financing Obligation | The future minimum payments related to the GLPI Leases, including the Lumière Lease, and VICI Leases financing obligation, as amended, at December 31, 2021 were as follows:
(In millions) | GLPI Leases |  | VICI Leases
2022 | $ | 110 |  |  | $ | 1,066 |
2023 | 111 |  |  | 1,087 |
2024 | 112 |  |  | 1,107 |
2025 | 113 |  |  | 1,120 |
2026 | 115 |  |  | 1,136 |
Thereafter | 4,604 |  |  | 42,808 |
Total future payments | 5,165 |  |  | 48,324 |
Less: Amounts representing interest | (4,172) |  |  | (38,079) |
Plus: Residual values | 240 |  |  | 893 |
Financing obligation | $ | 1,233 |  |  | $ | 11,138 |
Schedule of Cash Paid for Financing Obligation | Cash payments made relating to our long-term financing obligations during the years ended December 31, 2021 and 2020 were as follows:
| GLPI Leases (a) |  | VICI Leases (a)
| December 31, |  | December 31,
(In millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Cash paid for principal | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 49 |
Cash paid for interest | 109 |  |  | 93 |  |  | 983 |  |  | 472 |
____________________ (a)For the initial periods of the GLPI and VICI Leases, cash payments are less than the interest expense recognized, which causes the failed-sale leaseback obligation to increase during the initial years of the lease term.
Schedule of Maturity of Lessor Lease Receivables |
Maturities of Lease Receivables |
(In millions) | Operating Leases
2022 | $ | 62 |
2023 | 58 |
2024 | 52 |
2025 | 46 |
2026 | 45 |
Thereafter | 704 |
Total | $ | 967 |

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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=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981 + Details
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