Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

(12)Leases

We are party to contracts where we lease property from others under contracts classified as operating leases. We primarily lease buildings, offices and operating facilities. Operating lease right-of-use assets are included in other assets and operating lease liabilities are included in accounts payable, accruals and other liabilities. Information related to our operating leases follows (dollars in millions).

	Right-of-use assets		Lease liabilities		Weighted average remaining term in years		Weighted average discount rate used to measure liabilities
December 31, 2022	$	4,975	$	4,939		7.0		3.7	%
December 31, 2021		5,091		4,991		7.2		3.5	%

A summary of our remaining future operating lease payments reconciled to lease liabilities as of December 31, 2022 and December 31, 2021 follows (in millions).

	Year 1		Year 2		Year 3		Year 4		Year 5		Thereafter		Total lease payments		Amount representing interest			Lease liabilities
December 31:
2022	$	1,283	$	1,073	$	822	$	560	$	449	$	1,464	$	5,651	$	(712	)	$	4,939
2021		1,238		1,038		835		631		418		1,571		5,731		(740	)		4,991

Components of operating lease costs for the three years ending December 31, 2022, by type, are summarized in the following table (in millions).

	2022			2021			2020
Operating lease cost	$	1,361		$	1,426		$	1,413
Short-term lease cost		233			154			145
Variable lease cost		217			223			228
Sublease income		(12	)		(10	)		(10	)
Total lease cost	$	1,799		$	1,793		$	1,776