Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

(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 were $5,941 million and lease liabilities were $5,882 million at December 31, 2019. 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 7.7 years and the weighted average discount rate used to measure lease liabilities was approximately 3.8%. A summary of our remaining operating lease payments as of December 31, 2019 and December 31, 2018 follows (in millions).

	Year 1		Year 2		Year 3		Year 4		Year 5		Thereafter		Total lease payments		Amount representing interest			Lease liabilities
December 31:
2019	$	1,374	$	1,183	$	950	$	764	$	620	$	1,988	$	6,879	$	(997	)	$	5,882
2018		1,310		1,268		1,048		820		658		2,079		7,183

Components of operating lease costs in 2019 by type were as follows (in millions).

Operating lease cost		Short-term lease cost		Variable lease cost		Sublease income			Total lease cost
$	1,459	$	178	$	276	$	(24	)	$	1,889

Operating lease expense was $1,649 million in 2018 and $1,579 million in 2017.