Faster, stronger, better. Annual report 2019 creating more smiles with every sip

2019
Operating lease cost 
(a)
$
474
Variable lease cost 
(b)
$
101
Short-term lease cost 
(c)
$
379
(a) Includes right-of-use asset amortization of $412 million. 
(b) Primarily related to adjustments for inflation, common-area maintenance and property tax. 
(c) Not recorded on our balance sheet.
In 2019, we recognized gains of $77 million on sale-leaseback transactions with terms under four years.
Supplemental cash flow information and non-cash activity related to our operating leases are as follows:
2019
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities
$
478
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
$
479
Supplemental balance sheet information related to our operating leases is as follows:
Balance Sheet Classification
2019
Right-of-use assets
Other assets
$
1,548
Current lease liabilities
Accounts payable and other current liabilities
$
442
Non-current lease liabilities
Other liabilities
$
1,118
Weighted-average remaining lease term and discount rate for our operating leases are as follows:
2019
Weighted-average remaining lease term
6 years
Weighted-average discount rate
4%
Maturities of lease liabilities by year for our operating leases are as follows:
2020
$
501
2021
374
2022
280
2023
183
2024
117
2025 and beyond
308
Total lease payments
1,763
Less: Imputed interest
(203)
Present value of lease liabilities
$
1,560

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118
As of December 29, 2018, minimum lease payments under non-cancelable operating leases by period were 
expected to be as follows:
2019
$
459
2020
406
2021
294
2022
210
2023
161
2024 and beyond
310
Total
$
1,840
A summary of rent expense for the years ended December 29, 2018 and December 30, 2017 is as follows:
2018
2017
Rent expense
$
771 $
742
Lessor
We have various arrangements for certain foodservice and vending equipment under which we are the lessor. 
These leases meet the criteria for operating lease classification. Lease income associated with these leases 
is not material.