v3.22.4
LEASES
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
LEASES LEASES
Leases as Lessor

The components of revenue from leases were as follows:
 Years ended December 31,
 (In millions)202220212020
Operating leases
Lease income related to ChoiceLease$1,490 $1,538 $1,566 
Lease income related to commercial rental (1)
1,286 1,062 792 
 
Sales-type leases
Interest income related to net investment in leases$45 $48 $49 
 
Variable lease income excluding commercial rental (1)
$323 $312 $289 
_______________ 
(1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income.
The components of the net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets, were as follows:
 December 31,
 (In millions)20222021
Net investment in the lease - lease payment receivable$598 $583 
Net investment in the lease - unguaranteed residual value in assets43 47 
641 630 
Estimated loss allowance(6)(4)
Total$635 $626 

Maturities of sales-type lease receivables as of December 31, 2022 were as follows:
Years ending December 31 (In millions)
2023$163 
2024148 
2025128 
2026111 
202779 
Thereafter111 
Total undiscounted cash flows740 
Present value of lease payments (recognized as lease receivables)(598)
Difference between undiscounted cash flows and discounted cash flows$142 
Operating lease payments expected to be received as of December 31, 2022 were as follows:
Years ending December 31(In millions)
2023$1,112 
2024842 
2025596 
2026376 
2027204 
Thereafter148 
Total undiscounted cash flows$3,278 

Leases as Lessee

The components of lease expense were as follows:
 Years ended December 31,
(In millions)202220212020
Finance lease cost
Amortization of right-of-use-assets$13 $14 $13 
Interest on lease liabilities2 2 2 
Operating lease cost199 98 92 
Short-term lease and other10 9 8 
Variable lease cost26 16 13 
Sublease income(39)(27)(27)
Total lease cost$211 $112 $101 
Supplemental balance sheet information related to leases was as follows:
 December 31,
 2022
2021
 (In millions)OperatingFinanceOperatingFinance
Noncurrent assets$715 $38 $341 $40 
Current liabilities191 13 100 13 
Noncurrent liabilities541 29 256 31 


 December 31,
 20222021
Weighted-average remaining lease term
Operating5 years5 years
Finance4 years4 years
Weighted-average discount rate
Operating4.0 %2.7 %
Finance4.4 %4.4 %
Maturities of operating and finance lease liabilities were as follows:
(In millions)OperatingFinance 
Years ending December 31LeasesLeasesTotal
2023$216 $14 $230 
2024177 12 189 
2025152 8 160 
2026112 5 117 
202768 2 70 
Thereafter79 5 84 
Total lease payments804 46 850 
Less: Imputed Interest(72)(4)(76)
Present value of lease liabilities$732 $42 $774 
Note: Amounts may not be additive due to rounding.
As of December 31, 2022, we have entered into $214 million of additional facility operating leases that have not yet commenced. The operating leases will commence in 2022 with lease terms of generally 3 to 10 years.
LEASES LEASES
Leases as Lessor

The components of revenue from leases were as follows:
 Years ended December 31,
 (In millions)202220212020
Operating leases
Lease income related to ChoiceLease$1,490 $1,538 $1,566 
Lease income related to commercial rental (1)
1,286 1,062 792 
 
Sales-type leases
Interest income related to net investment in leases$45 $48 $49 
 
Variable lease income excluding commercial rental (1)
$323 $312 $289 
_______________ 
(1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income.
The components of the net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets, were as follows:
 December 31,
 (In millions)20222021
Net investment in the lease - lease payment receivable$598 $583 
Net investment in the lease - unguaranteed residual value in assets43 47 
641 630 
Estimated loss allowance(6)(4)
Total$635 $626 

Maturities of sales-type lease receivables as of December 31, 2022 were as follows:
Years ending December 31 (In millions)
2023$163 
2024148 
2025128 
2026111 
202779 
Thereafter111 
Total undiscounted cash flows740 
Present value of lease payments (recognized as lease receivables)(598)
Difference between undiscounted cash flows and discounted cash flows$142 
Operating lease payments expected to be received as of December 31, 2022 were as follows:
Years ending December 31(In millions)
2023$1,112 
2024842 
2025596 
2026376 
2027204 
Thereafter148 
Total undiscounted cash flows$3,278 

Leases as Lessee

The components of lease expense were as follows:
 Years ended December 31,
(In millions)202220212020
Finance lease cost
Amortization of right-of-use-assets$13 $14 $13 
Interest on lease liabilities2 2 2 
Operating lease cost199 98 92 
Short-term lease and other10 9 8 
Variable lease cost26 16 13 
Sublease income(39)(27)(27)
Total lease cost$211 $112 $101 
Supplemental balance sheet information related to leases was as follows:
 December 31,
 2022
2021
 (In millions)OperatingFinanceOperatingFinance
Noncurrent assets$715 $38 $341 $40 
Current liabilities191 13 100 13 
Noncurrent liabilities541 29 256 31 


 December 31,
 20222021
Weighted-average remaining lease term
Operating5 years5 years
Finance4 years4 years
Weighted-average discount rate
Operating4.0 %2.7 %
Finance4.4 %4.4 %
Maturities of operating and finance lease liabilities were as follows:
(In millions)OperatingFinance 
Years ending December 31LeasesLeasesTotal
2023$216 $14 $230 
2024177 12 189 
2025152 8 160 
2026112 5 117 
202768 2 70 
Thereafter79 5 84 
Total lease payments804 46 850 
Less: Imputed Interest(72)(4)(76)
Present value of lease liabilities$732 $42 $774 
Note: Amounts may not be additive due to rounding.
As of December 31, 2022, we have entered into $214 million of additional facility operating leases that have not yet commenced. The operating leases will commence in 2022 with lease terms of generally 3 to 10 years.
LEASES LEASES
Leases as Lessor

The components of revenue from leases were as follows:
 Years ended December 31,
 (In millions)202220212020
Operating leases
Lease income related to ChoiceLease$1,490 $1,538 $1,566 
Lease income related to commercial rental (1)
1,286 1,062 792 
 
Sales-type leases
Interest income related to net investment in leases$45 $48 $49 
 
Variable lease income excluding commercial rental (1)
$323 $312 $289 
_______________ 
(1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income.
The components of the net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets, were as follows:
 December 31,
 (In millions)20222021
Net investment in the lease - lease payment receivable$598 $583 
Net investment in the lease - unguaranteed residual value in assets43 47 
641 630 
Estimated loss allowance(6)(4)
Total$635 $626 

Maturities of sales-type lease receivables as of December 31, 2022 were as follows:
Years ending December 31 (In millions)
2023$163 
2024148 
2025128 
2026111 
202779 
Thereafter111 
Total undiscounted cash flows740 
Present value of lease payments (recognized as lease receivables)(598)
Difference between undiscounted cash flows and discounted cash flows$142 
Operating lease payments expected to be received as of December 31, 2022 were as follows:
Years ending December 31(In millions)
2023$1,112 
2024842 
2025596 
2026376 
2027204 
Thereafter148 
Total undiscounted cash flows$3,278 

Leases as Lessee

The components of lease expense were as follows:
 Years ended December 31,
(In millions)202220212020
Finance lease cost
Amortization of right-of-use-assets$13 $14 $13 
Interest on lease liabilities2 2 2 
Operating lease cost199 98 92 
Short-term lease and other10 9 8 
Variable lease cost26 16 13 
Sublease income(39)(27)(27)
Total lease cost$211 $112 $101 
Supplemental balance sheet information related to leases was as follows:
 December 31,
 2022
2021
 (In millions)OperatingFinanceOperatingFinance
Noncurrent assets$715 $38 $341 $40 
Current liabilities191 13 100 13 
Noncurrent liabilities541 29 256 31 


 December 31,
 20222021
Weighted-average remaining lease term
Operating5 years5 years
Finance4 years4 years
Weighted-average discount rate
Operating4.0 %2.7 %
Finance4.4 %4.4 %
Maturities of operating and finance lease liabilities were as follows:
(In millions)OperatingFinance 
Years ending December 31LeasesLeasesTotal
2023$216 $14 $230 
2024177 12 189 
2025152 8 160 
2026112 5 117 
202768 2 70 
Thereafter79 5 84 
Total lease payments804 46 850 
Less: Imputed Interest(72)(4)(76)
Present value of lease liabilities$732 $42 $774 
Note: Amounts may not be additive due to rounding.
As of December 31, 2022, we have entered into $214 million of additional facility operating leases that have not yet commenced. The operating leases will commence in 2022 with lease terms of generally 3 to 10 years.
LEASES LEASES
Leases as Lessor

The components of revenue from leases were as follows:
 Years ended December 31,
 (In millions)202220212020
Operating leases
Lease income related to ChoiceLease$1,490 $1,538 $1,566 
Lease income related to commercial rental (1)
1,286 1,062 792 
 
Sales-type leases
Interest income related to net investment in leases$45 $48 $49 
 
Variable lease income excluding commercial rental (1)
$323 $312 $289 
_______________ 
(1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income.
The components of the net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets, were as follows:
 December 31,
 (In millions)20222021
Net investment in the lease - lease payment receivable$598 $583 
Net investment in the lease - unguaranteed residual value in assets43 47 
641 630 
Estimated loss allowance(6)(4)
Total$635 $626 

Maturities of sales-type lease receivables as of December 31, 2022 were as follows:
Years ending December 31 (In millions)
2023$163 
2024148 
2025128 
2026111 
202779 
Thereafter111 
Total undiscounted cash flows740 
Present value of lease payments (recognized as lease receivables)(598)
Difference between undiscounted cash flows and discounted cash flows$142 
Operating lease payments expected to be received as of December 31, 2022 were as follows:
Years ending December 31(In millions)
2023$1,112 
2024842 
2025596 
2026376 
2027204 
Thereafter148 
Total undiscounted cash flows$3,278 

Leases as Lessee

The components of lease expense were as follows:
 Years ended December 31,
(In millions)202220212020
Finance lease cost
Amortization of right-of-use-assets$13 $14 $13 
Interest on lease liabilities2 2 2 
Operating lease cost199 98 92 
Short-term lease and other10 9 8 
Variable lease cost26 16 13 
Sublease income(39)(27)(27)
Total lease cost$211 $112 $101 
Supplemental balance sheet information related to leases was as follows:
 December 31,
 2022
2021
 (In millions)OperatingFinanceOperatingFinance
Noncurrent assets$715 $38 $341 $40 
Current liabilities191 13 100 13 
Noncurrent liabilities541 29 256 31 


 December 31,
 20222021
Weighted-average remaining lease term
Operating5 years5 years
Finance4 years4 years
Weighted-average discount rate
Operating4.0 %2.7 %
Finance4.4 %4.4 %
Maturities of operating and finance lease liabilities were as follows:
(In millions)OperatingFinance 
Years ending December 31LeasesLeasesTotal
2023$216 $14 $230 
2024177 12 189 
2025152 8 160 
2026112 5 117 
202768 2 70 
Thereafter79 5 84 
Total lease payments804 46 850 
Less: Imputed Interest(72)(4)(76)
Present value of lease liabilities$732 $42 $774 
Note: Amounts may not be additive due to rounding.
As of December 31, 2022, we have entered into $214 million of additional facility operating leases that have not yet commenced. The operating leases will commence in 2022 with lease terms of generally 3 to 10 years.