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Annual report pursuant to Section 13 and 15(d)

LEASE OBLIGATIONS (Tables)

v3.22.0.1
LEASE OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract] Ìý
Summary of Lease Costs
Lease costs are presented below:
(In Millions)
Year Ended December 31,
2021 2020
Operating leases $ 70Ìý $ 43Ìý
Finance leases:
Amortization of lease cost 94Ìý 15Ìý
Interest on lease liabilities 9Ìý 4Ìý
Short-term leases 66Ìý 13Ìý
Total $ 239Ìý $ 75Ìý
Other information related to leases was as follows:
(In Millions)
Year Ended December 31,
2021 2020
Cash paid for amounts included in measurement of lease liabilities:
Operating leases within cash flows from operating activities $ 70Ìý $ 43Ìý
Finance leases within cash flows from operating activities $ 9Ìý $ 4Ìý
Finance leases within cash flows from financing activities $ 94Ìý $ 15Ìý
Right-of-use assets obtained in exchange for new finance lease liabilities1
$ 50Ìý $ 44Ìý
Weighted-average remaining lease term - operating leases (in years) 8 8
Weighted-average remaining lease term - finance leases (in years) 5 5
Weighted-average discount rate - operating leases 7Ìý % 8Ìý %
Weighted-average discount rate - finance leases 4Ìý % 4Ìý %
1 Right-of-use assets obtained in acquisitions are not included in this figure.
Summary of Future Minimum Lease Payments under Noncellable Finance and Operating Leases
Future minimum lease payments under noncancellable finance and operating leases as of DecemberÌý31, 2021 were as follows:
(In Millions)
Finance Leases Operating Leases
2022 $ 105Ìý $ 68Ìý
2023 96Ìý 56Ìý
2024 31Ìý 47Ìý
2025 28Ìý 39Ìý
2026 19Ìý 35Ìý
Thereafter 66Ìý 133Ìý
Total future minimum lease payments 345Ìý 378Ìý
Less: imputed interest 54Ìý 108Ìý
Total lease payments 291Ìý 270Ìý
Less: current portion of lease liabilities 97Ìý 50Ìý
Long-term lease liabilities $ 194Ìý $ 220Ìý