Leases (Tables)

9 Months Ended

Sep. 30, 2021

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)	2021		2020		2021		2020
Lease Cost:
Operating lease cost	$	93	$	99	$	282	$	288
Short-term lease cost	1		1		4		3
Variable lease cost	38		28		101		92
Sublease income	(3)		(5)		(16)		(15)
Net lease cost	$	129	$	123	$	371	$	368
Other information:
Operating cash outflows from operating leases					$	310	$	306
Right of use assets obtained in exchange for new operating lease liabilities					$	282	$	162
Weighted-average remaining lease term – real estate					9.0 years		8.4 years
Weighted-average discount rate – real estate leases					2.75%		3.02%

Future Minimum Lease Payments for Operating Leases

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

Payment Dates (In millions)	Real Estate Leases
Remainder of 2021	$	102
2022	387
2023	340
2024	298
2025	266
2026	243
Subsequent years	897
Total future lease payments	2,533
Less: Imputed interest	(294)
Total	$	2,239
Current lease liabilities	$	339
Long-term lease liabilities	1,900
Total lease liabilities	$	2,239

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.