Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Schedule of Leases, Balance Sheet Location

The following table shows the classification and location of our right-of-use assets and lease liabilities on our Consolidated Balance Sheets (in millions):

		March 31,		December 31,
	Consolidated Balance Sheets Location	2023		2022
Right-of-use assets—Operating	Operating lease assets	$	2,553	$	2,625
Right-of-use assets—Financing	Property, plant and equipment, net of accumulated depreciation	498		511
Total right-of-use assets		$	3,051	$	3,136
Current operating lease liabilities	Current operating lease liabilities	$	604	$	616
Current finance lease liabilities	Other current liabilities	31		28
Non-current operating lease liabilities	Operating lease liabilities	1,919		1,971
Non-current finance lease liabilities	Finance lease liabilities	487		494
Total lease liabilities		$	3,041	$	3,109

Schedule of Lease Cost, Income Statement Location

The following table shows the classification and location of our lease costs on our Consolidated Statements of Operations (in millions):

	Consolidated Statements of Operations Location	Three Months Ended March 31,
		2023		2022
Operating lease cost (a)	Operating costs and expenses (1)	$	213	$	202
Finance lease cost:
Amortization of right-of-use assets	Depreciation and amortization expense	13		1
Interest on lease liabilities	Interest expense, net of capitalized interest	9		2
Total lease cost		$	235	$	205
(a) Included in operating lease cost:
Short-term lease costs		$	23	$	41
Variable lease costs		12		9

(1)Presented in cost of sales, operating and maintenance expense or selling, general and administrative expense consistent with the use of the asset under lease.

Schedule of Maturity of Lease Liabilities

Future annual minimum lease payments for operating and finance leases as of March 31, 2023 are as follows (in millions): 

Years Ending December 31,	Operating Leases		Finance Leases
2023	$	516	$	49
2024	670		66
2025	529		71
2026	396		75
2027	300		77
Thereafter	497		427
Total lease payments (1)	2,908		765
Less: Interest	(385)		(247)
Present value of lease liabilities	$	2,523	$	518

(1)Does not include approximately $3.3 billion of legally binding minimum payments primarily for vessel charters executed as of March 31, 2023, but will commence in future periods with fixed minimum lease terms of up to 15 years.

Lease, Other Quantitative Information

The following table shows the weighted-average remaining lease term and the weighted-average discount rate for our operating leases and finance leases:

	March 31, 2023		December 31, 2022
	Operating Leases	Finance Leases	Operating Leases	Finance Leases
Weighted-average remaining lease term (in years)	5.8	10.4	5.9	10.6
Weighted-average discount rate (1)	4.3%	7.8%	4.2%	7.8%

(1)The weighted average discount rate is impacted by certain finance leases that commenced prior to the adoption of the current leasing standard under GAAP. In accordance with previous accounting guidance, the implied rate is based on the fair value of the underlying assets.

The following table includes other quantitative information for our operating and finance leases (in millions):

	Three Months Ended March 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	181	$	151
Operating cash flows from finance leases	8		2
Right-of-use assets obtained in exchange for operating lease liabilities	90		7

Schedule of Sublease Income

The following table shows the sublease income recognized in other revenues on our Consolidated Statements of Operations (in millions):

	Three Months Ended March 31,
	2023		2022
Fixed income	$	134	$	32
Variable income	23		19
Total sublease income	$	157	$	51

Sublease Payment to be Received, Fiscal Year Maturity

Future annual minimum sublease payments to be received from LNG vessel subcharters as of March 31, 2023 are as follows (in millions): 

Years Ending December 31,	Sublease Payments
2023	$	145
2024	40
2025	—
2026	—
2027	—
Thereafter	—
Total sublease payments	185