Note 12. Leases

We are party to contracts where we lease property from others. As a lessee, we primarily lease office and operating facilities, locomotives, freight cars, energy generation facilities and transmission assets. Operating lease right-of-use assets and lease liabilities included in our March 31, 2019 Consolidated Balance Sheet were approximately $6.2 billion and $6.0 billion, respectively. Such amounts were included in other assets and accounts payable, accruals and other liabilities in our Consolidated Balance Sheet. The weighted average term of these leases was approximately 7.7 years and the weighted average discount rate used to measure lease liabilities was approximately 3.9%. A summary of our remaining operating lease payments as of March 31, 2019 and December 31, 2018 follows (in millions).


	2019		2020		2021		2022		2023		Thereafter		Total lease payments		Amount representing interest			Lease liabilities
March 31, 2019	$	933	$	1,312	$	1,091	$	859	$	685	$	2,183	$	7,063	$	(1,053	)	$	6,010
December 31, 2018		1,310		1,268		1,048		820		658		2,079		7,183

Components of operating lease costs by type were as follows (in millions).

Operating

lease cost

Short-term

lease cost

Variable

lease cost

Sublease
income

Total

lease cost

First quarter of 2019

361

)

468

We are also party to contracts where we lease property to others as a lessor. Operating lease revenues by type were as follows (in millions).


	Fixed lease revenue			Variable lease revenue			Total
First quarter of 2019		$	1,074		$	362		$	1,436

Future operating lease rentals to be received on assets we lease to others were as follows (in millions).


	2019		2020		2021		2022		2023		Thereafter		Total
As of March 31, 2019	$	1,932	$	1,928	$	1,363	$	893	$	529	$	485	$	7,130