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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Lease Cost and Additional Information | The following table provides additional information about the Company’s property leases:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
(In millions) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Lease Cost: |  |  |  |  |  |  |  |
Operating lease cost (a) | $ | 84 |  |  | $ | 82 |  |  | $ | 247 |  | $ | 243 |
Short-term lease cost | 1 |  |  | 1 |  |  | 4 |  | 4 |
Variable lease cost | 31 |  |  | 31 |  |  | 85 |  | 94 |
Sublease income | (2) |  |  | (2) |  |  | (10) |  | (8) |
Net lease cost | $ | 114 |  |  | $ | 112 |  |  | $ | 326 |  | $ | 333 |
Other information: |  |  |  |  |  |  |  |
Operating cash outflows from operating leases |  |  |  |  | $ | 278 |  | $ | 284 |
Right of use assets obtained in exchange for new operating lease liabilities |  |  |  |  | $ | 135 |  | $ | 177 |
Weighted average remaining lease term – real estate |  |  |  |  | 7.8 years |  | 8.1 years |
Weighted average discount rate – real estate leases |  |  |  |  | 3.64 | % |  | 3.28 | % |
(a) Excludes ROU asset impairment charges.
Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments for the Company’s operating leases at September 30, 2024 are as follows:
(In millions) | Real Estate Leases
2024 (excludes payments through September 30, 2024) | $ | 95 |
2025 | 371 |
2026 | 343 |
2027 | 305 |
2028 | 229 |
2029 | 183 |
Subsequent years | 678 |
Total future lease payments | 2,204 |
Less: Imputed interest | (273) |
Total | $ | 1,931 |
Current lease liabilities | $ | 313 |
Long-term lease liabilities | 1,618 |
Total lease liabilities | $ | 1,931 |
Note: The above table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a ROU asset or liability in the consolidated balance sheets.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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