Leases (Tables)

12 Months Ended

Dec. 31, 2021

Components of leases are as follows (in millions):

	December 31,
	2021		2020
Current portion of lease liabilities:
Operating	$	76	$	82
Financing		23		28
Total	$	99	$	110

	December 31,
	2021		2020
Long-term portion of lease liability:
Operating	$	357	$	376
Financing		219		236
Total	$	576	$	612

Components of Lease Expense

Components of lease expense were as follows (in millions):

	Years Ended
	December 31, 2021			December 31, 2020
Lease cost
Finance lease cost
Amortization of right-of-use assets	$	26		$	31
Interest on lease liabilities		10			11
Operating lease cost		83			96
Short-term lease cost		74			64
Sub-lease income		(9	)		(10	)
Total	$	184		$	192

Schedule of Supplemental information Related to Leases

Supplemental information related to the Company’s leases is as follows (in millions):

	Years Ended
	December 31, 2021			December 31, 2020
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases	$	10		$	11
Operating cash flows - operating leases		83			96
Financing cash flows - finance leases		26			31
Right-of-use assets obtained in exchange for new:
Operating lease liabilities		37			47
Finance lease liabilities	$	9		$	16

Weighted average remaining lease term at December 31, 2021:
Operating leases	11 years			11 years
Finance leases	18 years			18 years
Weighted average discount rate at December 31, 2021:
Operating leases		4.74	%		4.93	%
Finance leases		3.86	%		3.92	%

Future Minimum Lease Commitments for Leases with Initial or Remaining Terms of One Year or More

Future minimum lease commitments for leases with initial or remaining terms of one year or more at December 31, 2021, are payable as follows (in millions):

	Operating			Finance
2022	$	91		$	32
2023		76			25
2024		65			21
2025		54			19
2026		43			17
Thereafter		219			214
Total lease payments		548			328
Less: Interest		(115	)		(86	)
Present value of lease liabilities	$	433		$	242