Leases (Tables)

3 Months Ended

Mar. 31, 2020

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)	2020			2019
Lease Cost:
Operating lease cost	$	92		$	82
Short-term lease cost	1			1
Variable lease cost	37			37
Sublease income	(5		)	(4		)
Net lease cost	$	125		$	116
Other information:
Operating cash outflows from operating leases	$	103		$	87
Right of use assets obtained in exchange for new operating lease liabilities	$	79		$	—
Weighted-average remaining lease term – real estate	8.66 years			7.70 years
Weighted-average discount rate – real estate leases	3.06		%	3.12		%

Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of March 31, 2020 are as follows:

Payment Dates (In millions)	Real Estate Leases
Remainder of 2020	$	308
2021	361
2022	336
2023	293
2024	248
2025	222
Subsequent years	800
Total future lease payments	2,568
Less: Imputed interest	(336		)
Total	$	2,232
Current lease liabilities	$	334
Long-term lease liabilities	1,898
Total lease liabilities	$	2,232

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.