Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases - Tables [Abstract]

Lease-Related Assets and Liabilities

Lease-related assets and liabilities recorded on the Consolidated Balance Sheet were as follows:

(in millions)	Balance Sheet location	December 31, 2019
Assets
Operating	Operating lease right-of-use assets (net)	$	1,349
Finance	Property and equipment (net of allowance for depreciation and amortization of $455)	779
Total lease assets		$	2,128
Liabilities
Current
Operating	Current operating lease liabilities	$	353
Finance	Current maturities of long-term debt	85
Noncurrent
Operating	Noncurrent operating lease liabilities	978
Finance	Long-term debt less current maturities	542
Total lease liabilities		$	1,958

Components of Lease Cost

The components of lease costs, included in the Consolidated Statement of Comprehensive Income, were as follows:

(in millions)	Statement of Comprehensive Income location	Year ended December 31, 2019
Operating lease cost - aircraft (a)	Other operating expenses	$	182
Operating lease cost - other	Landing fees and airport rentals, and Other operating expenses	89
Short-term lease cost	Other operating expenses	4
Variable lease cost	Landing fees and airport rentals, and Other operating expenses	1,377
Finance lease cost:
Amortization of lease liabilities	Depreciation and amortization	116
Interest on lease liabilities	Interest expense	26
Total net finance lease cost		$	142

(a) Net of sublease income of $97 million for the year ended December 31, 2019.

Schedule of Cash Flow, Supplemental Disclosures

Supplemental cash flow information related to leases, included in the Consolidated Statement of Cash Flows, was as follows:

(in millions)	Year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	379
Operating cash flows for finance leases	26
Financing cash flows for finance leases	85
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	230
Finance leases	1

Finance Lease Maturity

As of December 31, 2019, maturities of lease liabilities were as follows:

(in millions)	Operating leases			Finance leases
2020	$	392		$	107
2021	257			102
2022	141			98
2023	113			94
2024	92			90
Thereafter	661			230
Total lease payments	$	1,656		$	721
Less imputed interest	(325		)	(94		)
Total lease obligations	1,331			627
Less current obligations	(353		)	(85		)
Long-term lease obligations	$	978		$	542

Lessee Operating and Finance Leases Weighted Average Assumptions

The table below presents additional information related to the Company's leases as of December 31, 2019:

Weighted average remaining lease term
Operating leases	9 years
Finance leases	8 years
Weighted average discount rate
Operating leases (a)	3.7	%
Finance leases	3.8	%

(a) Upon adoption of the New Lease Standard, the incremental borrowing rate used for existing leases was established as of January 1, 2019.

Operating Lease Maturity

As of December 31, 2019, maturities of lease liabilities were as follows:

(in millions)	Operating leases			Finance leases
2020	$	392		$	107
2021	257			102
2022	141			98
2023	113			94
2024	92			90
Thereafter	661			230
Total lease payments	$	1,656		$	721
Less imputed interest	(325		)	(94		)
Total lease obligations	1,331			627
Less current obligations	(353		)	(85		)
Long-term lease obligations	$	978		$	542

Future Minimum Lease Payments Under Capital Leases And Noncancelable Operating Leases

Future minimum lease payments under capital leases and noncancelable operating leases and rentals to be received under subleases with initial or remaining terms in excess of one year at December 31, 2018, were:

(in millions)	Capital leases		Operating leases		Subleases			Operating leases, net
2019	$	111	$	348	$	(92	)	$	256
2020	109		357		(78		)	279
2021	105		244		(41		)	203
2022	100		172		(17		)	155
2023	97		146		(7		)	139
Thereafter	335		474		(1		)	473
Total minimum lease payments	$	857	$	1,741	$	(236	)	$	1,505
Less amount representing interest	126
Present value of minimum lease payments (a)	731
Less current portion	85
Long-term portion	$	646

(a) Excludes lease incentive obligation of $114 million.