Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease cost and additional information

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

For the Year Ended December 31, 2019 (In millions)
Lease Cost:
Operating lease cost	$	371
Short-term lease cost	8
Variable lease cost	150
Sublease income	(18		)
Net lease cost	$	511
Other information:
Operating cash outflows from operating leases	$	392
Right of use assets obtained in exchange for new operating lease liabilities	$	140
Weighted-average remaining lease term – real estate	8.78 years
Weighted-average discount rate – real estate leases	3.10		%

Future minimum lease payments

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

Payment Dates (In millions)	Real Estate Leases
2020	$	413
2021	359
2022	335
2023	288
2024	241
Subsequent years	974
Total future lease payments	2,610
Less: Imputed interest	(342		)
Total	2,268
Current lease liabilities	342
Long-term lease liabilities	1,926
Total lease liabilities	$	2,268

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.

Schedule of future minimum rental payments for operating leases

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

For the Years 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