v3.21.2
Leases
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases
Note 4 – Leases    
The components of our lease expense were as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2020202120202021
Lease cost
Finance lease cost:
      Amortization of assets$49 $61 $93 $113 
      Interest on lease liabilities4 3 8 7 
Operating lease cost116 74 211 150 
Short-term lease cost4 1 10 4 
Variable lease cost32 22 62 42 
Sublease income— (1)(1)(1)
Total lease cost$205 $160 $383 $315 
We did not enter into nor commence any new material operating or finance leases during the three and six months ended June 30, 2021. The assumptions used to value leases for the periods presented were as follows:
As of
December 31, 2020June 30, 2021
Weighted-average remaining lease term
     Operating leases16 years16 years
     Finance leases2 years2 years
Weighted-average discount rate
     Operating leases7.0 %7.1 %
     Finance leases5.4 %4.7 %
Maturities of lease liabilities were as follows (in millions):
As of June 30, 2021
Operating LeasesFinance Leases
Remainder of 2021$97 $106 
2022310 132 
2023280 34 
2024236 8 
2025190 — 
Thereafter2,111 — 
Total undiscounted lease payments3,224 280 
Less: imputed interest(1,534)(13)
Total lease liabilities$1,690 $267 
As of June 30, 2021, we had additional operating leases and finance leases, primarily for corporate offices and servers, that have not yet commenced of $496 million and $16 million, respectively. These operating and finance leases will commence between fiscal years 2021 and 2023 with lease terms ranging from 3 years to 11 years.
Leases
Note 4 – Leases    
The components of our lease expense were as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2020202120202021
Lease cost
Finance lease cost:
      Amortization of assets$49 $61 $93 $113 
      Interest on lease liabilities4 3 8 7 
Operating lease cost116 74 211 150 
Short-term lease cost4 1 10 4 
Variable lease cost32 22 62 42 
Sublease income— (1)(1)(1)
Total lease cost$205 $160 $383 $315 
We did not enter into nor commence any new material operating or finance leases during the three and six months ended June 30, 2021. The assumptions used to value leases for the periods presented were as follows:
As of
December 31, 2020June 30, 2021
Weighted-average remaining lease term
     Operating leases16 years16 years
     Finance leases2 years2 years
Weighted-average discount rate
     Operating leases7.0 %7.1 %
     Finance leases5.4 %4.7 %
Maturities of lease liabilities were as follows (in millions):
As of June 30, 2021
Operating LeasesFinance Leases
Remainder of 2021$97 $106 
2022310 132 
2023280 34 
2024236 8 
2025190 — 
Thereafter2,111 — 
Total undiscounted lease payments3,224 280 
Less: imputed interest(1,534)(13)
Total lease liabilities$1,690 $267 
As of June 30, 2021, we had additional operating leases and finance leases, primarily for corporate offices and servers, that have not yet commenced of $496 million and $16 million, respectively. These operating and finance leases will commence between fiscal years 2021 and 2023 with lease terms ranging from 3 years to 11 years.