Leases

12 Months Ended

Dec. 31, 2021

We have entered into operating lease agreements primarily for data centers, land and offices throughout the world with lease periods expiring between 2022 and 2063.

Components of operating lease expense were as follows (in millions):


	Year Ended December 31,
	2020		2021
Operating lease cost	$	2,267	$	2,699
Variable lease cost	619		726
Total operating lease cost	$	2,886	$	3,425

Supplemental information related to operating leases was as follows (in millions):


	Year Ended December 31,
	2020		2021
Cash payments for operating leases	$	2,004	$	2,489
New operating lease assets obtained in exchange for operating lease liabilities	$	2,765	$	2,951

As of December 31, 2021, our operating leases had a weighted average remaining lease term of 8 years and a weighted average discount rate of 2.3%. Future lease payments under operating leases as of December 31, 2021 were as follows (in millions):


2022	$	2,539
2023	2,527
2024	2,226
2025	1,815
2026	1,401
Thereafter	4,948
Total future lease payments	15,456
Less imputed interest	(1,878)
Total lease liability balance	$	13,578

As of December 31, 2021, we have entered into leases that have not yet commenced with short-term and long-term future lease payments of $606 million and $5.2 billion, excluding purchase options, that are not yet recorded on our Consolidated Balance Sheets. These leases will commence between 2022 and 2026 with non-cancelable lease terms of 1 to 25 years.