Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases

Schedule of information related to operating leases

(in millions, except weighted averages)	2020			2019
Operating lease cost (a)	$	329		$	314
Cash paid for amounts included in the measurement of operating lease liabilities		264			253
ROU assets arising from entering into new operating lease obligations		396			310
Weighted average remaining lease term at December 31 (in years)		8			8
Weighted average discount rate at December 31		3.2	%		3.9	%

(a) Includes short-term lease expense and variable lease costs, which were immaterial in the years ended December 31, 2020 and 2019.

Schedule of future minimum lease payments

Future minimum lease payments under non-cancellable operating leases as of December 31, 2020 were as follows:

(in millions)
2021	$	272
2022		228
2023		177
2024		131
2025		100
Thereafter		407
Total future minimum lease payments – undiscounted		1,315
Less: imputed interest		(172)
Present value of lease liabilities	$	1,143

Schedule of operating lease balance sheet disclosure

(in millions)	December 31, 2020		December 31, 2019		Balance Sheet Caption
Operating Lease - ROU Asset	$	1,101	$	934	Deferred income taxes and other assets
Operating Lease Liability:
Current	$	241	$	205	Other accrued liabilities
Non-current		902		755	Post-employment obligations and other long-term liabilities
Total Liability	$	1,143	$	960