Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

Note 12. Leases

We are party to contracts where we lease property from others. As a lessee, we primarily lease office and operating facilities, locomotives, freight cars, energy generation facilities and transmission assets. Operating lease right-of-use assets and lease liabilities included in our June 30, 2019 Consolidated Balance Sheet were approximately $6.1 billion and $5.9 billion, respectively. Such amounts were included in other assets and accounts payable, accruals and other liabilities in our Consolidated Balance Sheet. The weighted average term of these leases was approximately 7.4 years and the weighted average discount rate used to measure lease liabilities was approximately 3.9%. A summary of our remaining operating lease payments as of June 30, 2019 and December 31, 2018 follows (in millions).

	2019		2020		2021		2022		2023		Thereafter		Total lease payments		Amount representing interest			Lease liabilities
June 30, 2019	$	599	$	1,346	$	1,123	$	885	$	708	$	2,289	$	6,950	$	(1,016	)	$	5,934
December 31, 2018		1,310		1,268		1,048		820		658		2,079		7,183

Components of operating lease costs for the second quarter and first six months of 2019 by type were as follows (in millions).

	Operating lease cost		Short-term lease cost		Variable lease cost		Sublease income			Total lease cost
Second quarter	$	367	$	35	$	70	$	(6	)	$	466
First six months		728		79		139		(12	)		934