Leases (Tables)

12 Months Ended

Dec. 31, 2021

Lease expense consisted of the following:


	Years Ended December 31,
	2021		2020
	(Dollars in millions)
Operating and short-term lease cost	$	535	729
Finance lease cost:
Amortization of right-of-use assets	37		36
Interest on lease liability	16		12
Total finance lease cost	53		48
Total lease cost	$	588	777

Supplemental consolidated cash flow statement information related to leases is included below:


	Years Ended December 31,
	2021		2020
	(Dollars in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	525	566
Operating cash flows for finance leases	15		14
Financing cash flows for finance leases	52		40
Supplemental lease cash flow disclosures:
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	165	375
Right-of-use assets obtained in exchange for new finance lease liabilities	94		124

Supplemental consolidated balance sheet information and other information related to leases is included below:


		As of December 31,
Leases (Dollars in millions)	Classification on the Balance Sheet	2021			2020
Assets
Operating lease assets	Other, net	$	1,451		1,699
Finance lease assets	Property, plant and equipment, net of accumulated depreciation	314			329
Total leased assets		$	1,765		2,028

Liabilities
Current
Operating	Current operating lease liabilities	$	385		379
Finance	Current maturities of long-term debt	19			26
Noncurrent
Operating	Other	1,171			1,405
Finance	Long-term debt	251			267
Total lease liabilities		$	1,826		2,077

Weighted-average remaining lease term (years)
Operating leases		6.8			6.7
Finance leases		13.1			12.1
Weighted-average discount rate
Operating leases		5.54		%	6.01	%
Finance leases		4.89		%	4.94	%

As of December 31, 2021, maturities of lease liabilities were as follows:

As of December 31, 2021, maturities of lease liabilities were as follows: