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Leases | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Leases | 10. Leases All Segments and Holding Company We have operating and finance leases primarily within our Automotive, Energy and Food Packaging segments. Our Automotive segment leases assets, primarily real estate (operating) and vehicles (financing). Our Energy segment leases certain pipelines, storage tanks, railcars, office space, land and equipment (operating and financing). Our Food Packaging segment leases assets, primarily real estate, equipment and vehicles (primarily operating). Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Right-of-use assets and related liabilities are recorded on the balance sheet for leases with an initial lease term in excess of twelve months and therefore, do not include any lease arrangements with initial lease terms of twelve months or less. Right-of-use assets and lease liabilities are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31,
​ | ​ | 2021 |  | 2020
​ | ​ | (in millions)
Operating Leases: | ​ |  | ​ | ​ |  | ​
Right-of-use assets (other assets) | ​ | $ | 467 | ​ | $ | 556
Lease liabilities (accrued expenses and other liabilities) | ​ |  | 479 | ​ |  | 573
​ | ​ | ​ | ​ | ​ | ​ | ​
Financing Leases: | ​ |  | ​ | ​ |  | ​
Right-of-use assets (property, plant and equipment, net) | ​ |  | 56 | ​ |  | 65
Lease liabilities (debt) | ​ |  | 72 | ​ |  | 81
​ ​ Additional information with respect to our operating leases as of December 31, 2021 and 2020 is presented below. The lease terms and discount rates for our Energy, Automotive and Food Packaging segments represent weighted averages based on their respective lease liability balances. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Right-Of-Use |  | Lease |  | ​ |  | Discount |
Operating Leases as of December 31, 2021 | ​ | Assets | ​ | Liabilities | ​ | Lease Term | ​ | Rate |
​ | ​ | (in millions) | ​ | ​ | ​ | ​ | ​
Energy | ​ | $ | 37 | ​ | $ | 37 | ​ | 4.1 years | ​ | 5.4% | ​
Automotive | ​ |  | 369 | ​ |  | 385 |  | 4.9 years |  | 5.8% | ​
Food Packaging | ​ |  | 28 | ​ |  | 31 |  | 10.5 years |  | 7.4% | ​
Other segments and Holding Company | ​ |  | 33 | ​ |  | 26 |  |  |  |  | ​
​ | ​ | $ | 467 | ​ | $ | 479 | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Right-Of-Use |  | Lease |  | ​ |  | Discount | ​
Operating Leases as of December 31, 2020 | ​ | Assets | ​ | Liabilities | ​ | Lease Term | ​ | Rate | ​
​ | ​ | (in millions) | ​ | ​ | ​ | ​ | ​
Energy | ​ | $ | 37 | ​ | $ | 38 | ​ | 3.1 years | ​ | 5.5% | ​
Automotive | ​ |  | 436 | ​ |  | 456 |  | 4.6 years |  | 5.7% | ​
Food Packaging | ​ |  | 32 | ​ |  | 35 |  | 11.1 years |  | 7.4% | ​
Other segments and Holding Company | ​ |  | 51 | ​ |  | 44 |  |  |  |  | ​
​ | ​ | $ | 556 | ​ | $ | 573 | ​ | ​ | ​ | ​ | ​
​ Maturities of lease liabilities as of December 31, 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating | ​ | Financing
Year |  | Leases |  | Leases
​ | ​ | (in millions)
2022 | ​ | $ | 168 | ​ | $ | 16
2023 | ​ |  | 116 | ​ |  | 14
2024 | ​ |  | 85 | ​ |  | 12
2025 | ​ |  | 61 | ​ |  | 12
2026 | ​ |  | 42 | ​ |  | 12
Thereafter | ​ |  | 89 | ​ |  | 31
Total lease payments | ​ |  | 561 | ​ |  | 97
Less: imputed interest | ​ |  | (82) | ​ |  | (25)
​ | ​ | $ | 479 | ​ | $ | 72
​ For the year ended December 31, 2021, lease cost was comprised of operating lease cost of $196 million, amortization of financing lease right-of use assets of $10 million and interest expense on financing lease liabilities of $6 million. For the year ended December 31, 2020, lease cost was comprised of operating lease cost of $200 million, amortization of financing lease right-of use assets of $11 million and interest expense on financing lease liabilities of $7 million. For the year ended December 31, 2019, lease cost was comprised of operating lease cost of $202 million, amortization of financing lease right-of use assets of $14 million and interest expense on financing lease liabilities of $7 million. Our Automotive segment accounted for $163 million, $166 million and $173 million of total lease cost for the years ended December 31, 2021, 2020 and 2019, respectively. Real Estate Our Real Estate segment leases real estate, primarily commercial properties under long-term operating leases. As of December 31, 2021 and 2020, our Real Estate segment has assets leased to others included in property, plant and equipment of $251 million and $222 million, respectively, net of accumulated depreciation. Our Real Estate segment’s revenue from operating leases were $8 million, $32 million and $33 million for the years ended December 31, 2021, 2020 and 2019, respectively, and are included in other revenue from operations in the consolidated statements of operations. Our Real Estate segment’s anticipated future receipts of minimum operating lease payments receivable are $3 million for 2022, $6 million in 2023, $8 million for each of 2024 and 2025, $7 million for 2026 and an aggregate of $78 million for 2027 and thereafter.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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