v3.24.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Lease Cost and Additional Information
The following table provides additional information about the Company’s property leases:
 
Three Months Ended
June 30,		Six Months Ended
 June 30,
(In millions)2024202320242023
Lease Cost:
Operating lease cost (a)
$81 $81 $163$161
Short-term lease cost2 2 33
Variable lease cost28 26 5463
Sublease income(5)(2)(8)(6)
Net lease cost$106 $107 $212$221
Other information:
Operating cash outflows from operating leases$183$189
Right of use assets obtained in exchange for new operating lease liabilities$85$121
Weighted average remaining lease term – real estate7.8 years8.3 years
Weighted average discount rate – real estate leases3.58 %3.21 %
(a) Excludes ROU asset impairment charges.
Schedule of Future Minimum Lease Payments for Operating Leases
Future minimum lease payments for the Company’s operating leases at June 30, 2024 are as follows:
(In millions)Real Estate Leases
2024 (excludes payments through June 30, 2024)
$182 
2025355 
2026327 
2027289 
2028214 
2029170 
Subsequent years616 
Total future lease payments2,153 
Less: Imputed interest(263)
Total$1,890 
Current lease liabilities$304 
Long-term lease liabilities1,586 
Total lease liabilities$1,890 
Note: The above table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a ROU asset or liability in the consolidated balance sheets.