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Leases (Tables)

3 Months Ended

Mar. 31, 2023

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:


	March 31, 2023		December 31, 2022
	(In millions)
Operating Leases
Operating lease right-of-use assets	$	697	$	656

Operating lease liabilities	$	688	$	656

Finance Leases
Property and equipment, at cost	102		87
Accumulated depreciation	(36)		(31)
Property and equipment, net	$	66	$	56

Loans payable and other financial liabilities	$	61	$	51

Summary of Weighted Average Remaining Lease Term and Discount Rate

The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of March 31, 2023 and December 31, 2022:


	March 31, 2023		December 31, 2022
Weighted average remaining lease term
Operating leases	8 Years		8 Years
Finance leases	3 Years		3 Years

Weighted average discount rate (*)
Operating leases	10	%	10	%
Finance leases	13	%	16	%

(*)Includes discount rates of leases in local currency and U.S. dollar.

Components of Lease Expense

The components of lease expense were as follows:


	Three Months Ended March 31,
	2023		2022
	(In millions)
Operating lease cost	$	42	$	27

Finance lease cost:
Depreciation of property and equipment	5		4
Interest on lease liabilities	2		2
Total finance lease cost	$	7	$	6

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:


	Three Months Ended March 31,
	2023		2022
	(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	41	$	27
Financing cash flows from finance leases	6		4

Assets obtained in exchange for lease obligations:
Operating leases	$	42	$	61
Finance leases	11		3

Maturities of Lease Liabilities

The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates to calculate the lease liabilities for the operating and finance leases:


Period Ending March 31, 2023	Operating Leases		Finance Leases
	(In millions)
One year or less	$	159	$	23
One year to two years	148		20
Two years to three years	133		14
Three years to four years	103		5
Four years to five years	91		2
Thereafter	339		—
Total lease payments	$	973	$	64
Less imputed interest	(285)		(3)
Total	$	688	$	61