v3.21.2
LEASES (Tables)
3 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Components of Lease Expense

The components of lease expense were as follows:

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

588

 

 

$

498

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

226

 

 

$

206

 

Interest on lease liabilities

 

 

104

 

 

 

92

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total finance lease cost

 

$

330

 

 

$

298

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

566

 

 

$

491

 

Operating cash flows from finance leases

 

 

104

 

 

 

92

 

Financing cash flows from finance leases

 

 

200

 

 

 

136

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

Operating leases

 

 

1,171

 

 

 

678

 

Finance leases

 

 

1,389

 

 

 

635

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

(In millions, except lease term and discount rate)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

2021

 

 

June 30,
2021

 

 

 

 

Operating Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

11,575

 

 

$

11,088

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other current liabilities

 

$

2,049

 

 

$

1,962

 

Operating lease liabilities

 

 

10,050

 

 

 

9,629

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating lease liabilities

 

$

12,099

 

 

$

11,591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, at cost

 

$

15,285

 

 

$

14,107

 

Accumulated depreciation

 

 

(2,531

)

 

 

(2,306

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

12,754

 

 

$

11,801

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other current liabilities

 

$

882

 

 

$

791

 

Other long-term liabilities

 

 

12,666

 

 

 

11,750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total finance lease liabilities

 

$

13,548

 

 

$

12,541

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

8 years

 

 

 

8 years

 

Finance leases

 

 

10 years

 

 

 

12 years

 

 

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

2.1%

 

 

 

2.2%

 

Finance leases

 

 

3.3%

 

 

 

3.4%

 

 

 

 

 

 

 

 

 

 

Maturities of Lease Liabilities

The following table outlines maturities of our lease liabilities as of September 30, 2021:

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ending June 30,

 

Operating Leases

 

 

Finance Leases

 

 

 

 

2022 (excluding the three months ended September 30, 2021)

 

$

1,667

 

 

$

962

 

2023

 

 

2,072

 

 

 

1,295

 

2024

 

 

1,871

 

 

 

1,312

 

2025

 

 

1,588

 

 

 

1,638

 

2026

 

 

1,256

 

 

 

1,324

 

Thereafter

 

 

4,647

 

 

 

9,743

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total lease payments

 

 

13,101

 

 

 

16,274

 

Less imputed interest

 

 

(1,002

)

 

 

(2,726

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

12,099

 

 

$

13,548