Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease Costs and Other Information

The following table presents lease cost and other information (in millions):

	Year ended December 31,
	2021			2020			2019
Lease cost
Operating lease cost	$	43		$	43		$	47
Variable lease cost		7			2			36
Sublease income		(1	)		(1	)		(1	)
Total lease cost	$	49		$	44		$	82
Other information
Operating cash flows used for operating leases	$	43		$	43		$	47
Weighted-average remaining lease term - operating leases	48 years			49 years			50 years
Weighted-average discount rate - operating leases		5.3	%		5.3	%		5.3	%

Reconciliation of Total Lease Payments, on Undiscounted Basis, to Lease Liability on Balance Sheet

The following table presents a reconciliation of the total amount of lease payments, on an undiscounted basis, to the lease liability on the balance sheet as of December 31, 2021 (in millions):

	As of December 31, 2021
	Ground Leases			Office Leases and Other			Total
Weighted-average discount rate - operating leases		5.3	%		3.4	%		5.3	%
2022	$	31		$	8		$	39
2023		31			5			36
2024		31			5			36
2025		31			5			36
2026		31			4			35
Thereafter		1,400			47			1,447
Total undiscounted cash flows	$	1,555		$	74		$	1,629
Present values
Long-term lease liabilities	$	508		$	56		$	564
Total lease liabilities	$	508		$	56		$	564
Difference between undiscounted cash flows and discounted cash flows	$	1,047		$	18		$	1,065