Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease, Cost

The following tables illustrate the financial impact of our leases as of and for the three months ended March 31, 2019, along with other supplemental information about our existing leases:

Millions of dollars	Three Months Ended March 31, 2019
Components of lease expense:
Finance lease cost:
Amortization of right-of-use assets	$	5
Interest on lease liabilities	15
Operating lease cost	96
Short-term lease cost	6
Sublease income	(1		)
Total lease cost	$	121

Lease supplemental disclosure

Millions of dollars	As of March 31, 2019
Components of balance sheet:
Operating leases:
Operating lease right-of-use assets (non-current)	$	1,019
Current portion of operating lease liabilities	255
Operating lease liabilities (non-current)	758
Finance leases:
Other assets (non-current)	$	142
Other current liabilities	12
Other liabilities (non-current)	139

Millions of dollars except years and percentages	Three Months Ended March 31, 2019
Other supplemental information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	88
Operating cash flows from finance leases	15
Financing cash flows from finance leases	10
Right-of-use assets obtained in exchange for lease obligations:
Operating leases (a)	$	1,098
Finance leases	58
Weighted-average remaining lease term:
Operating leases	9.2 years
Finance leases	6.1 years
Weighted-average discount rate for operating leases	4.7		%

(a) Represents operating lease right-of-use assets exchanged for lease obligations upon implementation of the new lease accounting standard on January 1, 2019.

Lessee, Operating and Finance Leases, Liability Maturity Table

The following table summarizes the maturity of our operating and finance leases as of March 31, 2019:

Millions of dollars	Operating Leases			Finance Leases
2019	$	238		$	48
2020	191			66
2021	147			65
2022	122			65
2023	97			65
Thereafter	507			151
Total lease payments	1,302			460
Less imputed interest	(289		)	(309		)
Total	$	1,013		$	151