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Leases (Tables)

6 Months Ended

Jun. 30, 2019

The Company's lease cost for the three and six months ended June 30 included the following components (in millions):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Operating lease cost	$	259		$	312		$	531		$	638
Variable and short-term lease cost	661			669			1,267			1,280
Amortization of finance lease assets	18			17			36			40
Interest on finance lease liabilities	32			4			59			9
Sublease income	(9		)	(11		)	(17		)	(21		)
Total lease cost	$	961		$	991		$	1,876		$	1,946

Summary of Scheduled Future Minimum Lease Payments under Operating Leases

The table below summarizes the Company's scheduled future minimum lease payments under operating and finance leases, recorded on the balance sheet, as of June 30, 2019 (in millions):



	Operating Leases			Finance Leases
Last six months of 2019	$	428		$	157
2020	989			58
2021	766			54
2022	634			44
2023	621			33
After 2023	4,331			70
Minimum lease payments	7,769			416
Imputed interest	2,098			97
Present value of minimum lease payments	5,671			319
Less: current maturities of lease obligations	(637		)	(117		)
Long-term lease obligations	$	5,034		$	202

Summary of Scheduled Future Minimum Lease Payments under Finance Leases

The table below summarizes the Company's scheduled future minimum lease payments under operating and finance leases, recorded on the balance sheet, as of June 30, 2019 (in millions):



	Operating Leases			Finance Leases
Last six months of 2019	$	428		$	157
2020	989			58
2021	766			54
2022	634			44
2023	621			33
After 2023	4,331			70
Minimum lease payments	7,769			416
Imputed interest	2,098			97
Present value of minimum lease payments	5,671			319
Less: current maturities of lease obligations	(637		)	(117		)
Long-term lease obligations	$	5,034		$	202

Additional Information Related to Leases

The table below presents additional information related to our leases as of June 30:



	2019			2018
Weighted-average remaining lease term - operating leases	10 years			10 years
Weighted-average remaining lease term - finance leases	5 years			5 years
Weighted-average discount rate - operating leases	5.3	%		5.1	%
Weighted-average discount rate - finance leases	53.2	%	(a)	6.7	%

(a) During the third quarter of 2018, United entered into an agreement with the lessor of 54 Embraer ERJ 145 aircraft to purchase those aircraft in 2019. The provisions of these lease agreements resulted in a change in accounting classification of these leases from operating leases to finance leases up until the purchase date. The discount rates used for these leases were adjusted so that the present value of lease payments did not exceed the fair value of the asset being recognized.

Supplemental Cash Flow Information Related to Leases

The table below presents supplemental cash flow information related to leases during the six months ended June 30 (in millions):



	2019		2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	507	$	552
Operating cash flows for finance leases	47		9
Financing cash flows for finance leases	63		35