Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

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

Millions of dollars	Year Ended December 31, 2019
Components of lease expense:
Finance lease cost:
Amortization of right-of-use assets	$	19
Interest on lease liabilities	51
Operating lease cost	355
Short-term lease cost	110
Sublease income	(5		)
Total lease cost	$	530

Lease supplemental disclosure

Millions of dollars	As of December 31, 2019
Components of balance sheet:
Operating leases:
Operating lease right-of-use assets (non-current)	$	931
Current portion of operating lease liabilities	208
Operating lease liabilities (non-current)	825
Finance leases:
Other assets (non-current)	$	123
Other current liabilities	19
Other liabilities (non-current)	124

During the year ended December 31, 2019, a $139 million impairment charge was recorded related to operating lease right-of-use assets. See Note 2 to the consolidated financial statements for further discussion on impairments and other charges.

Millions of dollars except years and percentages	Year Ended December 31, 2019
Other supplemental information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	316
Operating cash flows from finance leases	51
Financing cash flows from finance leases	24
Right-of-use assets obtained in exchange for lease obligations:
Operating leases (a)	$	1,362
Finance leases	74
Weighted-average remaining lease term:
Operating leases	9.5 years
Finance leases	5.4 years
Weighted-average discount rate for operating leases	4.4		%

(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 December 31, 2019:

Millions of dollars	Operating Leases			Finance Leases
2020	$	235		$	61
2021	186			62
2022	149			62
2023	107			61
2024	71			48
Thereafter	442			82
Total lease payments	1,190			376
Less imputed interest	(157		)	(233		)
Total	$	1,033		$	143