Leases (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Lease Cost and Additional Information

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

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2022		2021		2022		2021
Lease Cost:
Operating lease cost (a)	$	88	$	95	$	178	$	189
Short-term lease cost	1		2		2		3
Variable lease cost	30		26		64		63
Sublease income	(4)		(5)		(9)		(13)
Net lease cost	$	115	$	118	$	235	$	242
Other information:
Operating cash outflows from operating leases					$	194	$	204
Right of use assets obtained in exchange for new operating lease liabilities					$	114	$	251
Weighted-average remaining lease term – real estate					8.6 years		9.1 years
Weighted-average discount rate – real estate leases					2.75%		2.76%

(a) Excludes ROU asset impairment charges.

Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of June 30, 2022 are as follows:

Payment Dates (In millions)	Real Estate Leases
Remainder of 2022	$	187
2023	352
2024	311
2025	280
2026	257
2027	222
Subsequent years	714
Total future lease payments	2,323
Less: Imputed interest	(257)
Total	$	2,066
Current lease liabilities	$	314
Long-term lease liabilities	1,752
Total lease liabilities	$	2,066

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