Leases (Tables)

6 Months Ended

Jun. 30, 2021

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)	2021		2020		2021			2020
Lease Cost:
Operating lease cost	$	95	$	97	$	189		$	189
Short-term lease cost	2		1		3			2
Variable lease cost	26		27		63			64
Sublease income	(5)		(5)		(13)			(10)
Net lease cost	$	118	$	120	$	242		$	245
Other information:
Operating cash outflows from operating leases					$	204		$	197
Right of use assets obtained in exchange for new operating lease liabilities					$	251		$	129
Weighted-average remaining lease term – real estate					9.1 years			8.5 years
Weighted-average discount rate – real estate leases					2.76		%	3.05		%

Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of June 30, 2021 are as follows:

Payment Dates (In millions)	Real Estate Leases
Remainder of 2021	$	208
2022	388
2023	340
2024	297
2025	265
2026	244
Subsequent years	901
Total future lease payments	2,643
Less: Imputed interest	(309)
Total	$	2,334
Current lease liabilities	$	342
Long-term lease liabilities	1,992
Total lease liabilities	$	2,334

Note: Table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a right of use asset or liability in the consolidated balance sheets.