Leases (Tables)

9 Months Ended

Dec. 31, 2019

The components of lease expense were as follows:



	Three Months Ended		Nine Months Ended
	December 31, 2019		December 31, 2019
	(in millions)
Operating lease expense	$	545	$	1,622
Finance lease expense:
Amortization of right-to-use assets	18		55
Interest on lease liabilities	1		2
Total finance lease expense	19		57
Variable lease expense	23		65
Total lease expense	$	587	$	1,744

The supplemental components of cash flows were as follows:



	Three Months Ended		Nine Months Ended
	December 31, 2019		December 31, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	2	$	5
Operating cash flows from operating leases	579		1,756
Financing cash flows from finance leases	1		2
Total cash paid for amounts included in the measurement of lease liabilities	$	582	$	1,763
Non-cash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for lease obligations	$	262	$	643

Information relating to the lease term and discount rate excluding the Managed Sites is as follows:



	Nine Months Ended
	December 31, 2019
Weighted average remaining lease term (years)
Operating leases	4.9
Weighted average remaining discount rate
Operating leases	6.0	%

Maturities of operating lease liabilities as of December 31, 2019 were as follows:



	(in millions)
Remainder of fiscal year ending March 31, 2020	$	540
Fiscal year ending March 31, 2021	2,234
Fiscal year ending March 31, 2022	1,721
Fiscal year ending March 31, 2023	1,212
Fiscal year ending March 31, 2024	848
Thereafter	2,065
Total lease payments	8,620
Less imputed interest	(1,340		)
Total	$	7,280

As of March 31, 2019, the minimum estimated amounts due under operating leases and capital leases were as follows:



Future Minimum Commitments	Operating Leases		Capital Leases and Financing Obligations
	(in millions)
Fiscal year ending March 31, 2020	$	2,277	$	262
Fiscal year ending March 31, 2021	2,199		150
Fiscal year ending March 31, 2022	1,793		92
Fiscal year ending March 31, 2023	1,358		44
Fiscal year ending March 31, 2024	1,039		12
Thereafter	3,101		—
Total lease payments	$	11,767	$	560

As of March 31, 2019, the minimum estimated amounts due under operating leases and capital leases were as follows:



Future Minimum Commitments	Operating Leases		Capital Leases and Financing Obligations
	(in millions)
Fiscal year ending March 31, 2020	$	2,277	$	262
Fiscal year ending March 31, 2021	2,199		150
Fiscal year ending March 31, 2022	1,793		92
Fiscal year ending March 31, 2023	1,358		44
Fiscal year ending March 31, 2024	1,039		12
Thereafter	3,101		—
Total lease payments	$	11,767	$	560

SPRINT Corp 10-Q