Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease, Cost

Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost (1)	$	934	$	2,644
Finance lease cost:
Amortization of lease assets	2,609		7,319
Interest on lease liabilities	164		479
Finance lease cost	2,773		7,798
Variable lease cost	244		775
Total lease cost	$	3,951	$	11,217

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(1)

Rental expense under operating lease agreements was $859 million for Q3 2018 and $2.5 billion for the nine months ended September 30, 2018.

Other Operating and Finance Lease Information

Other information about lease amounts recognized in our consolidated financial statements is summarized as follows:

	September 30, 2019
Weighted-average remaining lease term – operating leases	11.7 years
Weighted-average remaining lease term – finance leases	5.7 years
Weighted-average discount rate – operating leases	3.2	%
Weighted-average discount rate – finance leases	2.8	%

Operating and Finance Lease Liability Reconciliation

As of September 30, 2019, our lease liabilities were as follows (in millions):

	Operating Leases			Finance Leases			Total
Gross lease liabilities	$	30,550		$	27,310		$	57,860
Less: imputed interest	(6,646		)	(1,936		)	(8,582		)
Present value of lease liabilities	23,904			25,374			49,278
Less: current portion of lease liabilities	(2,842		)	(9,378		)	(12,220		)
Total long-term lease liabilities	$	21,062		$	15,996		$	37,058