Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease, Cost

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

Millions of dollars	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Components of lease expense:
Finance lease cost:
Amortization of right-of-use assets	$	5		$	14
Interest on lease liabilities	12			40
Operating lease cost	80			266
Short-term lease cost	8			23
Sublease income	(1		)	(4		)
Total lease cost	$	104		$	339

Lease supplemental disclosure

Millions of dollars	As of September 30, 2019
Components of balance sheet:
Operating leases:
Operating lease right-of-use assets (non-current)	$	985
Current portion of operating lease liabilities	208
Operating lease liabilities (non-current)	762
Finance leases:
Other assets (non-current)	$	136
Other current liabilities	18
Other liabilities (non-current)	128

Millions of dollars except years and percentages	Nine Months Ended September 30, 2019
Other supplemental information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	236
Operating cash flows from finance leases	40
Financing cash flows from finance leases	19
Right-of-use assets obtained in exchange for lease obligations:
Operating leases (a)	$	1,220
Finance leases	69
Weighted-average remaining lease term:
Operating leases	9.4 years
Finance leases	5.7 years
Weighted-average discount rate for operating leases	4.5		%

(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 September 30, 2019:

Millions of dollars	Operating Leases			Finance Leases
2019	$	75		$	15
2020	218			62
2021	172			63
2022	143			63
2023	107			62
Thereafter	524			137
Total lease payments	1,239			402
Less imputed interest	(269		)	(256		)
Total	$	970		$	146