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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Supplemental Balance Sheet Information
The following amounts were recorded in the Consolidated Balance Sheets related to leases:
December 31,
(In millions)20212020
Operating leases:
Operating lease assets $1,772 $1,434 
Current operating lease liabilities$453 $332 
Long-term operating lease liabilities1,391 1,099 
Total operating lease liabilities $1,844 $1,431 
Finance leases:
Property and equipment, gross$234 $199 
Accumulated depreciation(79)(49)
Property and equipment, net $155 $150 
Short-term borrowings and obligations under finance leases$34 $31 
Long-term debt and obligations under finance leases133 127 
Total finance lease liabilities $167 $158 
Schedule of Weighted Average Remaining Lease Term and Discount Rate
Supplemental weighted-average information for leases was as follows:
December 31,
20212020
Weighted-average remaining lease term
Operating leases5.3 years5.7 years
Finance leases11.6 years11.4 years
Weighted-average discount rate
Operating leases3.5 %4.4 %
Finance leases3.8 %4.6 %
Lease Expenses and Supplemental Cash Flows
The components of lease expense were as follows:
Year Ended December 31,
(In millions)202120202019
Operating leases:
Operating lease cost$657 $532 $500 
Short-term lease cost80 55 57 
Variable lease cost75 65 65 
Total lease cost$812 $652 $622 
Finance leases:
Amortization of leased assets$32 $24 $12 
Interest expense on lease liabilities
Total lease cost$38 $28 $14 
Total operating and finance lease cost$850 $680 $636 
Supplemental cash flow information related to leases was as follows:
Year Ended December 31,
(In millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$578 $556 $505 
Operating cash flows for finance leases
Financing cash flows for finance leases25 17 11 
Leased assets obtained in exchange for new lease obligations:
Operating leases (1)
$932 $392 $478 
Finance leases (2)
39 38 51 
(1) Includes $281 million related to the K + N acquisition.
(2) Includes $23 million related to the K + N acquisition.
Operating Lease Maturity
Maturities of lease liabilities as of December 31, 2021 were as follows:
(In millions)Finance LeasesOperating Leases
2022$38 $503 
202334 440 
202425 332 
202522 248 
202612 181 
Thereafter81 329 
Total lease payments212 2,033 
Less: interest(45)(189)
Present value of lease liabilities$167 $1,844 
Finance Leases Maturity
Maturities of lease liabilities as of December 31, 2021 were as follows:
(In millions)Finance LeasesOperating Leases
2022$38 $503 
202334 440 
202425 332 
202522 248 
202612 181 
Thereafter81 329 
Total lease payments212 2,033 
Less: interest(45)(189)
Present value of lease liabilities$167 $1,844