LEASES (Tables)

9 Months Ended

Sep. 30, 2020

The components of lease expense for the three and nine months ended September 30, 2020 and 2019 were as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease costs	$	180	151		$	527	$	474
Finance lease costs:
Amortization of assets	20		18		58		55
Interest on lease liabilities	4		5		14		14
Total finance lease costs	24		23		72		69
Variable lease costs	58		69		171		148
Short-term lease costs	260		194		716		633
Total lease costs	$	522	$	437	$	1,486	$	1,324

Supplemental cash flow information related to leases is as follows (in millions):


	Nine Months Ended September 30,
	2020		2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	$	508	$	455
Operating cash flows from finance leases	11		11
Financing cash flows from finance leases	136		121

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	544	$	144
Finance leases	50		61

Supplemental Balance Sheet

Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate):


	September 30, 2020			December 31, 2019
Operating Leases:
Operating lease right-of-use assets	$	3,022		$	2,856

Current maturities of operating leases	$	560		$	538
Non-current operating leases	2,473			2,391
Total operating lease liabilities	$	3,033		$	2,929

Finance Leases:
Property, plant and equipment, net	$	1,289		$	1,502

Current maturities of long-term debt, commercial paper and finance leases	$	88		$	181
Long-term debt and finance leases	323			317
Total finance lease liabilities	$	411		$	498

Weighted average remaining lease term (in years):
Operating leases	9.4			9.7
Finance leases	9.4			8.9

Weighted average discount rate:
Operating leases	2.56		%	2.78		%
Finance leases	4.25		%	4.03		%

Operating Leases Maturity Schedule

Maturities of lease liabilities as of September 30, 2020 are as follows (in millions):


	Finance Leases		Operating Leases
2020	$	61	$	148
2021	62		634
2022	56		541
2023	45		440
2024	37		323
Thereafter	252		1,504
Total lease payments	513		3,590
Less: Imputed interest	(102)		(557)
Total lease obligations	411		3,033
Less: Current obligations	(88)		(560)
Long-term lease obligations	$	323	$	2,473

Finance Leases Maturity Schedule

Maturities of lease liabilities as of September 30, 2020 are as follows (in millions):


	Finance Leases		Operating Leases
2020	$	61	$	148
2021	62		634
2022	56		541
2023	45		440
2024	37		323
Thereafter	252		1,504
Total lease payments	513		3,590
Less: Imputed interest	(102)		(557)
Total lease obligations	411		3,033
Less: Current obligations	(88)		(560)
Long-term lease obligations	$	323	$	2,473