Leases

12 Months Ended

Dec. 31, 2022

LEASES

Our operating leases consist primarily of properties and equipment for our administrative, manufacturing and R&D activities. Some of our leases include options to extend the terms for up to 15 years and some include options to terminate the lease within one year after the lease commencement date. As of December 31, 2022 and 2021, we did not have material finance leases. Operating lease expense, including variable costs and short-term leases, was $162 million, $156 million and $171 million in 2022, 2021 and 2020, respectively.

The following table summarizes balance sheet and other information related to our operating leases:


		December 31,
(in millions, except weighted average amounts)	Classification	2022			2021
Right-of-use assets, net	Other long-term assets	$	505		$	542
Lease liabilities – current	Other accrued liabilities	$	111		$	101
Lease liabilities – noncurrent	Other long-term obligations	$	467		$	489
Weighted average remaining lease term		8.1 years			8.5 years
Weighted average discount rate		2.80		%	3.00		%

The following table summarizes other supplemental information related to our operating leases:


	Year Ended December 31,
(in millions)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	98	$	123
Right-of-use assets obtained in exchange for lease liabilities	$	97	$	88

The following table summarizes a maturity analysis of our operating lease liabilities showing the aggregate lease payments as of December 31, 2022:


(in millions)	Amount
2023	$	117
2024	111
2025	79
2026	56
2027	52
Thereafter	236
Total undiscounted lease payments	651
Less: imputed interest	73
Total discounted lease payments	$	578