Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease

The components of lease cost for the years ended December 31, 2021, 2020 and 2019 were as follows (in millions):

	2021		2020		2019
Operating Lease Cost (1)	$	295	$	393	$	497
Finance Lease Cost:
Amortization of Lease Assets	39		21		13
Interest on Lease Liabilities	7		4		2
Variable Lease Cost	63		91		138
Short-Term Lease Cost	257		194		333
Total Lease Cost	$	661	$	703	$	983

(1)    Operating lease cost includes impairment expenses of $35 million in 2020.

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 at December 31, 2021 and 2020 and supplemental information for the years ended December 31, 2021 and 2020 (in millions, except lease terms and discount rates):

Description	Location on Balance Sheet	2021		2020
Assets
Operating Leases	Other Assets	$	743	$	869
Finance Leases	Property, Plant and Equipment, Net (1)	241		206
Total		$	984	$	1,075
Liabilities
Current
Operating Leases	Current Portion of Operating Lease Liabilities	$	240	$	295
Finance Leases	Current Portion of Long-Term Debt	37		31
Long-Term
Operating Leases	Other Liabilities	558		641
Finance Leases	Long-Term Debt	213		181
Total		$	1,048	$	1,148

(1)    Finance lease assets are recorded net of accumulated amortization of $119 million and $81 million at December 31, 2021 and 2020, respectively.

Weighted Average Remaining Lease Term And Discount Rate

	2021		2020
Weighted Average Remaining Lease Term (in years):
Operating Leases	5.3		5.3
Finance Leases	7.0		7.6
Weighted Average Discount Rate:
Operating Leases	3.0	%	3.4	%
Finance Leases	2.6	%	2.8	%

Cash Paid for Leases

Cash paid for leases for the years ended December 31, 2021, 2020 and 2019 was as follows (in millions):

	2021		2020		2019
Repayment of Operating Lease Liabilities Associated with Operating Activities	$	207	$	223	$	225
Repayment of Operating Lease Liabilities Associated with Investing Activities	98		130		270
Repayment of Finance Lease Liabilities	37		19		13

Operating And Finance Non-Cancellable Leases Maturity

At December 31, 2021, the future minimum lease payments under non-cancellable leases were as follows (in millions):

	Operating Leases		Finance Leases
2022	$	262	$	42
2023	188		37
2024	113		37
2025	80		36
2026	59		30
2027 and Beyond	172		94
Total Lease Payments	874		276
Less: Discount to Present Value	76		26
Total Lease Liabilities	798		250
Less: Current Portion of Lease Liabilities	240		37
Long-Term Lease Liabilities	$	558	$	213