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LEASES
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
LEASES LEASES
The Company has operating leases, substantially all of which relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the consolidated financial statements. Certain of the Company’s leases include options to renew, with renewal terms that can extend the lease term from one year to 20 years at the Company’s discretion.
The following table presents the components of the Company’s lease cost:
Three Months Ended March 31,
20252024
Operating lease cost$22 $22 
Sublease income(2)(2)
Variable lease cost4 5 
Total lease cost$24 $25 
The following tables present other information related to the Company’s operating leases:
Three Months Ended March 31,
20252024
Cash paid for amounts included in the measurement of operating lease liabilities$30 $30 
Right-of-use assets obtained in exchange for new operating lease liabilities
$21 $4 
March 31, 2025March 31, 2024
Weighted-average remaining lease term
3.7 years4.2 years
Weighted-average discount rate applied to operating leases
3.2 %3.2 %
The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at March 31, 2025:
Year Ending December 31,Operating Leases
2025 (After March 31,)
$87 
202697 
202780 
202825 
202920 
After 202923 
Total lease payments (undiscounted)332 
Less: Interest19 
Present value of lease liabilities:$313 
Lease liabilities - current$103 
Lease liabilities - noncurrent$210 
As of March 31, 2025, the Company has entered into additional operating leases that have not yet commenced, with lease obligations of approximately $155 million related to the lease of office space. Accordingly, the ROU Assets and operating lease liabilities at March 31, 2025 do not reflect the amounts for these leases. The operating leases will commence in 2025 and have lease terms between 11 and 15 years.