Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease Cost and Additional Information

The following chart provides additional information about the Company’s property leases:

For the Three Months Ended March 31,
(In millions)	2019
Lease Cost:
Operating lease cost	$	82
Short-term lease cost	1
Variable lease cost	37
Sublease income	(4		)
Net lease cost	$	116
Other information:
Operating cash outflows from operating leases	$	87
Right of use assets obtained in exchange for new operating lease liabilities	—
Weighted-average remaining lease term – real estate	7.7 years
Weighted-average discount rate – real estate leases	3.12		%

Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of March 31, 2019 are as follows:

Payment Dates	Real Estate Leases
Remainder of 2019	$	262
2020	328
2021	276
2022	257
2023	220
2024	183
Subsequent years	610
Total future lease payments	2,136
Less: Imputed interest	(255		)
Total	$	1,881
Current lease liabilities	$	291
Long-term lease liabilities	1,590
Total lease liabilities	$	1,881

Note: Table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a right to use asset or liability in the consolidated balance sheets.

Aggregate Fixed Future Minimum Commitments

At December 31, 2018, the aggregate future minimum rental commitments under all non-cancelable operating lease agreements are as follows:

For the Year Ended December 31,	Gross Rental Commitments		Rentals from Subleases		Net Rental Commitments
(In millions of dollars)
2019	$	361	$	32	$	329
2020	$	340	$	31	$	309
2021	$	277	$	12	$	265
2022	$	252	$	10	$	242
2023	$	214	$	9	$	205
Subsequent years	$	753	$	32	$	721