XML 35 R17.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Lessee, Operating Leases | NOTE 11: LEASES We enter into lease agreements for the use of real estate space, vehicles, IT equipment, and certain other equipment, including engines, under both operating and finance leases. The majority of our lease agreements are accounted for as operating leases. Operating lease expense was $422 million, $463 million, and $475 million for 2024, 2023, and 2022, respectively. Finance leases are not considered significant to our Consolidated Balance Sheet, Consolidated Statement of Operations, or Consolidated Statement of Cash Flows. Leases under which we are the lessor are generally short-term leases that support our commercial aerospace customers during maintenance events. Our commercial aerospace customers have varying forms of aftermarket maintenance coverage that often provide a level of support for leased engines as part of the revenue arrangement. As such, leases where we are the lessor are not considered significant to our Consolidated Balance Sheet, Consolidated Statement of Operations, or Consolidated Statement of Cash Flows. In 2024 and 2023, we entered into sale and leaseback transactions for the sale of new engines and related maintenance. We subsequently leased back the engines sold for a limited timeframe, which are accounted for as operating leases. The proceeds received in 2024 and 2023 as a result of sales of new engines are classified primarily in Other operating activities, net within our Consolidated Statement of Cash Flows. The net gains as a result of these transactions were not material. Supplemental cash flow information related to operating leases were as follows:
(dollars in millions) | 2024 |  | 2023 |  | 2022
Operating cash flows used in the measurement of operating lease liabilities | $ | 417 |  |  | $ | 421 |  |  | $ | 399 |
Operating lease right-of-use assets obtained in exchange for operating lease obligations | 707 |  |  | 373 |  |  | 359 |
Future lease payments related to our operating lease liabilities as of December 31, 2024 are as follows:
(dollars in millions) |  |  |  |  |
2025 | $ | 434 |  |  |  |  |
2026 | 385 |  |  |  |  |
2027 | 326 |  |  |  |  |
2028 | 270 |  |  |  |  |
2029 | 193 |  |  |  |  |
Thereafter | 811 |  |  |  |  |
Total undiscounted lease payments | 2,419 |  |  |  |  |
Less imputed interest | (420) |  |  |  |  |
Total discounted lease payments | $ | 1,999 |  |  |  |  |
Our lease liabilities recognized in our Consolidated Balance Sheet were as follows as of December 31:
(dollars in millions) | 2024 |  | 2023
Operating lease liabilities, current (included in Other accrued liabilities) | $ | 367 |  |  | $ | 348 |
Operating lease liabilities, non-current | 1,632 |  |  | 1,412 |
Total operating lease liabilities | $ | 1,999 |  |  | $ | 1,760 |
The weighted-average remaining lease term related to our operating leases was 10 years and 9 years as of December 31, 2024 and 2023, respectively. The weighted-average discount rate related to our operating leases was 4.3% and 3.5% as of December 31, 2024 and 2023, respectively.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration