Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

LeasesWe have entered into operating and finance lease agreements primarily for data centers, land and offices throughout the world with lease periods expiring between 2020 and 2063.

Components of operating lease expense were as follows (in millions, unaudited):

	Three Months Ended
	March 31,
	2019		2020
Operating lease cost	$	398	$	523
Variable lease cost	128		140
Total operating lease cost	$	526	$	663

Supplemental information related to operating leases is as follows (in millions, unaudited):

	Three Months Ended
	March 31,
	2019		2020
Cash payments for operating leases	$	374	$	430
New operating lease assets obtained in exchange for operating lease liabilities	$	1,131	$	770

As of March 31, 2020, our operating leases had a weighted average remaining lease term of 10 years and a weighted average discount rate of 2.7%. Future lease payments under operating leases as of March 31, 2020 were as follows (in millions, unaudited):

	Operating Leases
Remainder of 2020	$	1,378
2021	1,939
2022	1,782
2023	1,612
2024	1,389
Thereafter	6,146
Total future lease payments	14,246
Less imputed interest	(2,458)
Total lease liability balance	$	11,788

As of March 31, 2020, we have entered into leases that have not yet commenced with future lease payments of $7.0 billion, excluding purchase options, that are not yet recorded on our Consolidated Balance Sheets. These leases will commence between 2020 and 2026 with non-cancelable lease terms of 1 to 25 years.