XML 49 R34.htm IDEA: XBRL DOCUMENT v3.22.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lease, Cost
The components of lease cost for the years ended December 31, 2021, 2020 and 2019 were:
(in millions)202120202019
Operating lease cost$114 $115 $121 
Finance lease cost
Amortization of right-of-use assets7 5 5 
Interest on lease liabilities5 5 5 
Variable lease cost52 54 89 
Lease cost$178 $179 $220 
The following table contains supplemental cash flow information related to leases for the years ended December 31, 2021, 2020 and 2019:
(in millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$124 $127 $119 
Operating cash flows from finance leases5 4 4 
Financing cash flows from finance leases4 4 4 
Right-of-use operating lease assets obtained in exchange for lease obligations71 67 207 
Right-of-use finance lease assets obtained in exchange for lease obligations4 8 — 
There are no material lease transactions that we entered into but have not yet commenced as ofLease term and discount rates as of December 31, 2021 and 2020 were:
December 31, 2021December 31, 2020
Weighted-average remaining lease term (years)
Operating leases89
Finance leases1213
Weighted-average discount rate
Operating leases1.8 %2.2 %
Finance leases9.3 %10.3 %
Assets And Liabilities, Lessee Supplemental balance sheet information related to leases as of December 31, 2021 and 2020 include:
(in millions)20212020
Operating leases
Operating lease right-of-use assets$630 $603 
Accrued expenses and other current liabilities$128 $111 
Operating lease liabilities522 501 
Total operating lease liabilities$650 $612 
Finance leases
Property, plant and equipment, at cost$86 $76 
Accumulated depreciation(31)(28)
Property, plant and equipment, net$55 $48 
Current maturities of long-term debt and finance lease obligations$2 $1 
Long-term debt and finance lease obligations68 64 
Total finance lease liabilities$70 $65 
Lessee, Operating Lease, Liability, Maturity Maturities of operating and finance lease liabilities as of December 31, 2021 were:
(in millions)Finance LeasesOperating Leases
2022$10 $141 
20239 118 
20249 95 
20259 76 
20269 60 
Thereafter72 216 
Total minimum lease payments118 706 
Less: imputed interest(48)(56)
Present value of lease liabilities$70 $650 
Finance Lease, Liability, Maturity Maturities of operating and finance lease liabilities as of December 31, 2021 were:
(in millions)Finance LeasesOperating Leases
2022$10 $141 
20239 118 
20249 95 
20259 76 
20269 60 
Thereafter72 216 
Total minimum lease payments118 706 
Less: imputed interest(48)(56)
Present value of lease liabilities$70 $650 
Operating Lease, Lease Income The components of lease revenue for the years ended December 31, 2021, 2020 and 2019 were:
(in millions)202120202019
Sales-type lease revenue$27 $38 $35 
Operating lease revenue136 84 61 
Variable lease revenue79 80 85 
Total lease revenue$242 $202 $181 
Sales-type Lease, Lease Income
The components of our net investment in sales-type leases as of December 31, 2021 and 2020 were:
(in millions)20212020
Minimum lease payments$111 $122 
Unguaranteed residual values4 12 
Net investment in leases $115 $134 
Our net investment in sales-type leases is classified as follows in the accompanying consolidated balance sheets:
(in millions)December 31, 2021December 31, 2020
Accounts receivable, net$40 $39 
Other non-current assets75 95 
Total$115 $134 
Sales-type and Direct Financing Leases, Lease Receivable, Maturity Maturities of sales-type and operating leases as of December 31, 2021 were:
(in millions)Sales-type LeasesOperating Leases
2022$43 $87 
202332 79 
202422 75 
202512 60 
20265 11 
Thereafter1 2 
Total minimum lease payments115 $314 
Less: imputed interest(4)
Present value of minimum lease payments$111 
Lessor, Operating Lease, Payments to be Received, Maturity Maturities of sales-type and operating leases as of December 31, 2021 were:
(in millions)Sales-type LeasesOperating Leases
2022$43 $87 
202332 79 
202422 75 
202512 60 
20265 11 
Thereafter1 2 
Total minimum lease payments115 $314 
Less: imputed interest(4)
Present value of minimum lease payments$111