Leases

12 Months Ended

Dec. 31, 2022

We have entered into operating lease agreements primarily for data centers, land, and offices throughout the world with lease periods expiring between 2023 and 2063.

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


	Year Ended December 31,
	2020		2021		2022
Operating lease cost	$	2,267	$	2,699	$	2,900
Variable lease cost	619		726		838
Total operating lease cost	$	2,886	$	3,425	$	3,738

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


	Year Ended December 31,
	2020		2021		2022
Cash payments for operating leases	$	2,004	$	2,489	$	2,722
New operating lease assets obtained in exchange for operating lease liabilities	$	2,765	$	2,951	$	4,383

As of December 31, 2022, our operating leases had a weighted average remaining lease term of eight years and a weighted average discount rate of 2.8%. Future lease payments under operating leases as of December 31, 2022 were as follows (in millions):


2023	$	2,955
2024	2,771
2025	2,377
2026	1,953
2027	1,502
Thereafter	5,882
Total future lease payments	17,440
Less imputed interest	(2,462)
Total lease liability balance	$	14,978

As of December 31, 2022, we have entered into leases that have not yet commenced with short-term and long-term future lease payments of $630 million and $3.1 billion that are not yet recorded on our Consolidated Balance Sheets. These leases will commence between 2023 and 2026 with non-cancelable lease terms between 1 and 25 years.