Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Cost

The following tables illustrate the financial impact of our leases as of and for the three and six months ended June 30, 2019, along with other supplemental information about our existing leases:

Millions of dollars	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Components of lease expense:
Finance lease cost:
Amortization of right-of-use assets	$	5		$	10
Interest on lease liabilities	13			28
Operating lease cost	90			186
Short-term lease cost	9			15
Sublease income	(2		)	(3		)
Total lease cost	$	115		$	236

Lease supplemental disclosure

Millions of dollars	As of June 30, 2019
Components of balance sheet:
Operating leases:
Operating lease right-of-use assets (non-current)	$	978
Current portion of operating lease liabilities	215
Operating lease liabilities (non-current)	761
Finance leases:
Other assets (non-current)	$	141
Other current liabilities	17
Other liabilities (non-current)	136

Millions of dollars except years and percentages	Six Months Ended June 30, 2019
Other supplemental information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	161
Operating cash flows from finance leases	28
Financing cash flows from finance leases	15
Right-of-use assets obtained in exchange for lease obligations:
Operating leases (a)	$	1,138
Finance leases	65
Weighted-average remaining lease term:
Operating leases	9.6 years
Finance leases	6.0 years
Weighted-average discount rate for operating leases	4.6		%

(a) Primarily consists of 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 June 30, 2019:

Millions of dollars	Operating Leases			Finance Leases
2019	$	151		$	34
2020	206			65
2021	161			65
2022	125			65
2023	101			65
Thereafter	524			144
Total lease payments	1,268			438
Less imputed interest	(293		)	(284		)
Total	$	975		$	154