Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease cost and additional information

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

For the Years Ended December 31, (In millions, except weighted average data)	2021			2020
Lease Cost:
Operating lease cost(a)	$	374		$	396
Short-term lease cost	4			3
Variable lease cost	144			138
Sublease income	(20)			(19)
Net lease cost	$	502		$	518
Other information:
Operating cash outflows from operating leases	$	412		$	420
Right of use assets obtained in exchange for new operating lease liabilities	$	348		$	261
Weighted-average remaining lease term – real estate	8.87 years			8.42 years
Weighted-average discount rate – real estate leases	2.72		%	2.94		%

(a) Excludes ROU asset impairment charges.

Future minimum lease payments

Future minimum lease payments for the Company’s operating leases as of December 31, 2021 are as follows:

Payment Dates (In millions)	Real Estate Leases
2022	$	389
2023	350
2024	307
2025	276
2026	253
Subsequent years	924
Total future lease payments	2,499
Less: imputed interest	(287)
Total	$	2,212
Current lease liabilities	$	332
Long-term lease liabilities	1,880
Total lease liabilities	$	2,212

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.