AbbVie's lease portfolio primarily consists of real estate properties, vehicles and equipment. The following table summarizes the amounts and location of operating and finance leases on the consolidated balance sheets:


as of December 31 (in millions)	Balance sheet caption	2020		2019
Assets
Operating	Other assets	$	895	$	344
Finance	Property and equipment, net	27		23
Total lease assets		$	922	$	367
Liabilities
Operating
Current	Accounts payable and accrued liabilities	$	175	$	109
Noncurrent	Other long-term liabilities	832		251
Finance
Current	Current portion of long-term debt and finance lease obligations	8		7
Noncurrent	Long-term debt and finance lease obligations	21		20
Total lease liabilities		$	1,036	$	387

The following table summarizes the lease costs recognized in the consolidated statements of earnings:


years ended December 31 (in millions)	2020		2019
Operating lease cost	$	192	$	124



Short-term lease cost	59		34
Variable lease cost	60		62
Total lease cost	$	311	$	220

Sublease income and finance lease costs were insignificant in 2020 and 2019. Lease expense prior to the adoption of ASU No. 2016-02 was $161 million in 2018.

The following table presents the weighted-average remaining lease term and weighted-average discount rate for operating and finance leases:


	December 31, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating	8		5
Finance	3		3
Weighted-average discount rate
Operating	2.5	%	3.9	%
Finance	1.4	%	3.9	%


years ended December 31 (in millions)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	185	$	125



Right-of-use assets obtained in exchange for new operating lease liabilities	692		26

Finance lease cash flows were insignificant in 2020 and 2019. Right-of-use assets obtained in exchange for new operating lease liabilities included $453 million of right-of-use assets acquired in the Allergan acquisition.

The following table summarizes the future maturities of AbbVie's operating and finance lease liabilities as of December 31, 2020:


(in millions)	Operating leases		Finance leases		Total (a)
2021	$	202	$	27	$	229
2022	178		3		181
2023	140		2		142
2024	111		1		112
2025	96		—		96
Thereafter	394		—		394
Total lease payments	1,121		33		1,154
Less: Interest	114		4		118
Present value of lease liabilities	$	1,007	$	29	$	1,036

(a)Lease payments recognized as part of lease liabilities for optional renewal periods are insignificant.