Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Lease Cost and Additional Information

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

	Three Months ended June 30,						Six Months Ended June 30,
(In millions)	2020			2019			2020			2019
Lease Cost:
Operating lease cost	$	97		$	100		$	189		$	182
Short-term lease cost	1			2			2			3
Variable lease cost	27			39			64			76
Sublease income	(5		)	(4		)	(10		)	(8		)
Net lease cost	$	120		$	137		$	245		$	253
Other information:
Operating cash outflows from operating leases							$	197		187
Right of use assets obtained in exchange for new operating lease liabilities							$	129		67
Weighted-average remaining lease term – real estate							8.53 years			8.99 years
Weighted-average discount rate – real estate leases							3.05		%	3.08		%

Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of June 30, 2020 are as follows:

Payment Dates (In millions)	Real Estate Leases
Remainder of 2020	$	208
2021	373
2022	348
2023	303
2024	259
2025	233
Subsequent years	822
Total future lease payments	2,546
Less: Imputed interest	(312		)
Total	$	2,234
Current lease liabilities	$	332
Long-term lease liabilities	1,902
Total lease liabilities	$	2,234

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.