v3.22.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of lease costs and additional information
The following table provides the Company’s lease costs for the years ended December 31, 2022, 2021 and 2020:
In millionsYear ended December 31,202220212020
Finance lease cost
Amortization of right-of-use assets$11 $12 $12 
Interest on lease liabilities— 1 3 
Total finance lease cost11 13 15 
Operating lease cost 142 131 143 
Short-term lease cost40 26 42 
Variable lease cost (1)
51 58 63 
Total lease cost (2)
$244 $228 $263 
(1)Mainly relates to leases of trucks for the Company's freight delivery service contracts.
(2)Includes lease costs from Purchased services and material and Equipment rents in the Consolidated Statements of Income.
The following table provides additional information for the Company's leases for the years ended December 31, 2022, 2021 and 2020:
In millionsYear ended December 31,202220212020
Cash paid for amounts included in the measurement of lease liabilities ($)
  
Operating cash outflows from operating leases135 129 142 
Operating cash outflows from finance leases— 1 3 
Financing cash outflows from finance leases7 68 59 
Right-of-use assets obtained in exchange for lease liabilities ($)
Operating lease142 135 53 
Finance lease7 6 — 
Schedule of lease assets and liabilities
The following table provides the Company's lease right-of-use assets and lease liabilities, and their classification on the Consolidated Balance Sheets as at December 31, 2022 and 2021:
In millionsClassificationDecember 31,2022 2021 
Lease right-of-use assets
Finance leases Properties$402 $408 
Operating leasesOperating lease right-of-use assets470 445 
Total lease right-of-use assets$872 $853 
Lease liabilities
Current
Finance leasesCurrent portion of long-term debt$1 $7 
Operating leasesAccounts payable and other125 108 
Noncurrent
Finance leasesLong-term debt9 3 
Operating leasesOperating lease liabilities341 322 
Total lease liabilities$476 $440 

The following table provides the remaining lease terms and discount rates for the Company's leases as at December 31, 2022 and 2021:
December 31,2022 2021 
Weighted-average remaining lease term (years)
Finance leases4.81.9
Operating leases5.36.2
Weighted-average discount rate (%)
Finance leases4.30 1.29 
Operating leases2.95 2.43 
Schedule of finance lease maturities
The following table provides the maturities of lease liabilities for the next five years and thereafter as at December 31, 2022:
In millionsFinance leases
Operating leases (1)
2023$1 $140 
20242 110 
20252 89 
20264 56 
20271 32 
2028 & thereafter1 78 
Total lease payments11 505 
Less: Imputed interest
1 39 
Present value of lease payments$10 $466 
(1)Includes $70 million related to renewal options that are reasonably certain to be exercised.
Schedule of operating lease maturities
The following table provides the maturities of lease liabilities for the next five years and thereafter as at December 31, 2022:
In millionsFinance leases
Operating leases (1)
2023$1 $140 
20242 110 
20252 89 
20264 56 
20271 32 
2028 & thereafter1 78 
Total lease payments11 505 
Less: Imputed interest
1 39 
Present value of lease payments$10 $466 
(1)Includes $70 million related to renewal options that are reasonably certain to be exercised.