The Company entered into various operating lease agreements primarily for real estate. The Company's leases have original lease periods expiring between fiscal 2022 and 2031. Many leases include one or more options to renew. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Payments under the Company’s lease arrangements are generally fixed. At September 30, 2021, the Company had no finance leases.

At September 30, 2021 and 2020, ROU assets included in other assets on the consolidated balance sheets was $515 million and $508 million, respectively. At September 30, 2021 and 2020, the current portion of lease liabilities included in accrued liabilities on the consolidated balance sheets was $103 million and $97 million, respectively, and the long-term portion included in other liabilities was $471 million and $473 million, respectively.

During fiscal 2021 and 2020, total operating lease cost was $111 million and $114 million, respectively. At September 30, 2021 and 2020, the weighted-average remaining lease term for operating leases was approximately 6 years and the weighted-average discount rate for operating leases was 2.23% and 2.29%, respectively.


	September 30, 2021
	(in millions)
2022	$	120
2023	108
2024	100
2025	85
2026	75
Thereafter	132
Total undiscounted lease payments	620
Less: imputed interest	(46)
Present value of lease liabilities	$	574

During fiscal 2021 and 2020, ROU assets obtained in exchange for lease liabilities was $96 million and $76 million, respectively.

At September 30, 2021, the Company had additional operating leases that had not yet commenced with lease obligations of $467 million. These operating leases will commence between fiscal 2022 and 2023 with non-cancellable lease terms of 1 to 15 years.