Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease Cost and Additional Information

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

For the Three and Nine Months Ended September 30, 2019 (In millions)	Three Months Ended September 30,			Nine Months Ended September 30,
Lease Cost:
Operating lease cost	$	94		$	276
Short-term lease cost	4			7
Variable lease cost	37			113
Sublease income	(4		)	(12		)
Net lease cost	$	131		$	384
Other information:
Operating cash outflows from operating leases				$	288
Right of use assets obtained in exchange for new operating lease liabilities				$	112
Weighted-average remaining lease term – real estate				8.86 years
Weighted-average discount rate – real estate leases				3.09		%

Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of September 30, 2019 are as follows:

Payment Dates (In millions)	Real Estate Leases
Remainder of 2019	$	104
2020	406
2021	348
2022	324
2023	279
2024	233
Subsequent years	940
Total future lease payments	2,634
Less: Imputed interest	(336		)
Total	$	2,298
Current lease liabilities	$	341
Long-term lease liabilities	1,957
Total lease liabilities	$	2,298

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