Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lease Cost and Additional Information

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

	Three Months ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020			2019
Lease Cost:
Operating lease cost	$	99	$	94	$	288		$	276
Short-term lease cost	1		4		3			7
Variable lease cost	28		37		92			113
Sublease income	(5)		(4)		(15)			(12)
Net lease cost	$	123	$	131	$	368		$	384
Other information:
Operating cash outflows from operating leases					$	306		$	288
Right of use assets obtained in exchange for new operating lease liabilities					$	162		$	112
Weighted-average remaining lease term – real estate					8.44 years			8.86 years
Weighted-average discount rate – real estate leases					3.02		%	3.09		%

Future Minimum Lease Payments for Operating Leases

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

Payment Dates (In millions)	Real Estate Leases
Remainder of 2020	$	112
2021	390
2022	363
2023	315
2024	270
2025	242
Subsequent years	855
Total future lease payments	2,547
Less: Imputed interest	(310)
Total	$	2,237
Current lease liabilities	$	335
Long-term lease liabilities	1,902
Total lease liabilities	$	2,237

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.