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Leases (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2019

Dec. 31, 2018

Variable lease cost represents costs incurred above the contractual minimum payments for operating and finance leases. The components of lease cost for the three month and nine month periods ended September 30, 2019, were as follows (in millions):



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating Lease Cost	$	138	$	391
Finance Lease Cost:
Amortization of Lease Assets	3		10
Interest on Lease Liabilities	—		1
Variable Lease Cost	39		167
Short-Term Lease Cost	67		295
Total Lease Cost	$	247	$	864

Outstanding Lease Assets And Lease Liabilities

The following table sets forth the amounts and classification of EOG's outstanding ROU assets and related lease liabilities and supplemental information at September 30, 2019 (in millions, except lease terms and discount rates):



Description	Location on Balance Sheet	Amount
Assets
Operating Leases	Other Assets	$	842
Finance Leases	Property, Plant and Equipment, Net ⁽¹⁾	56
Total		$	898

Liabilities
Current
Operating Leases	Current Portion of Operating Lease Liabilities	$	384
Finance Leases	Current Portion of Long-Term Debt	15
Long-Term
Operating Leases	Other Liabilities	485
Finance Leases	Long-Term Debt	46
Total		$	930

(1)

Finance lease assets are recorded net of accumulated amortization of $57 million at September 30, 2019.

Weighted Average Remaining Lease Term And Discount Rate



	Nine Months Ended September 30, 2019
Weighted Average Remaining Lease Term (in years):
Operating Leases	3.2
Finance Leases	4.9

Weighted Average Discount Rate:
Operating Leases	3.5	%
Finance Leases	3.0	%

Cash Paid for Leases

Cash paid for leases was as follows for the nine months ended September 30, 2019 (in millions):



	Nine Months Ended September 30, 2019
Repayment of Operating Lease Liabilities Associated with Operating Activities	$	162
Repayment of Operating Lease Liabilities Associated with Investing Activities	225
Repayment of Finance Lease Liabilities	10

Operating And Finance Non-Cancellable Leases Maturity

At September 30, 2019, the future minimum lease payments under non-cancellable leases were as follows (in millions):



	Operating Leases		Finance Leases
October 1, 2019 to December 31, 2019	$	116	$	3
2020	377		15
2021	198		15
2022	118		12
2023	50		8
2024 and Beyond	64		14
Total Lease Payments	923		67
Less: Discount to Present Value	54		6
Total Lease Liabilities	869		61
Less: Current Portion of Lease Liabilities	384		15
Long-Term Lease Liabilities	$	485	$	46

Prior To Adoption Operating And Finance Non-Cancellable Leases Maturity

At December 31, 2018 and prior to the adoption of ASU 2016-02 and other related ASUs, the future minimum commitments under non-cancellable leases, including non-lease components and excluding contracts with lease terms of less than 12 months, were as follows (in millions):



	Operating Leases		Finance Leases
2019	$	380	$	15
2020	213		15
2021	86		15
2022	39		12
2023	30		8
2024 and Beyond	62		14
Total Lease Payments	$	810	$	79