LEASES (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Lease Cost

The components of lease expense for the three and six months ended June 30, 2022 and 2021 are as follows (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Operating lease costs	$	184	$	179	$	367	$	354
Finance lease costs:
Amortization of assets	28		23		56		46
Interest on lease liabilities	3		3		7		7
Total finance lease costs	31		26		63		53
Variable lease costs	64		62		132		127
Short-term lease costs	323		251		625		530
Total lease costs	$	602	$	518	$	1,187	$	1,064

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

	Six Months Ended June 30,
	2022		2021
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases	$	354	$	364
Operating cash flows from finance leases	2		7
Financing cash flows from finance leases	105		33
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	345	$	854
Finance leases	72		113

Supplemental Balance Sheet

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

	June 30, 2022			December 31, 2021
Operating Leases:
Operating lease right-of-use assets	$	3,436		$	3,562
Current maturities of operating leases	$	562		$	580
Non-current operating leases	2,962			3,033
Total operating lease obligations	$	3,524		$	3,613
Finance Leases:
Property, plant and equipment, net	$	1,008		$	1,225
Current maturities of long-term debt, commercial paper and finance leases	$	79		$	129
Long-term debt and finance leases	293			279
Total finance lease obligations	$	372		$	408
Weighted average remaining lease term (in years):
Operating leases	11.3			11.7
Finance leases	8.6			8.0
Weighted average discount rate:
Operating leases	2.06		%	1.94		%
Finance leases	3.06		%	2.79		%

Operating Leases Maturity Schedule

Maturities of lease obligations as of June 30, 2022 are as follows (in millions):

	Finance Leases		Operating Leases
2022	$	49	$	304
2023	80		620
2024	54		521
2025	40		461
2026	33		415
Thereafter	196		1,748
Total lease payments	452		4,069
Less: Imputed interest	(80)		(545)
Total lease obligations	372		3,524
Less: Current obligations	(79)		(562)
Long-term lease obligations	$	293	$	2,962

Finance Leases Maturity Schedule

Maturities of lease obligations as of June 30, 2022 are as follows (in millions):

	Finance Leases		Operating Leases
2022	$	49	$	304
2023	80		620
2024	54		521
2025	40		461
2026	33		415
Thereafter	196		1,748
Total lease payments	452		4,069
Less: Imputed interest	(80)		(545)
Total lease obligations	372		3,524
Less: Current obligations	(79)		(562)
Long-term lease obligations	$	293	$	2,962