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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Note 5. Leases We have operating and finance leases for manufacturing and distribution facilities, vehicles, equipment and office space. Our leases generally have remaining lease terms of 1 to 15 years, some of which include options to extend the leases for up to 10 years. The components of lease costs were as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in millions)
Operating lease cost | $ | 234 |  |  | $ | 223 |  |  | $ | 213 |
Finance lease cost: |  |  |  |  |
Amortization of ROU assets | 144 |  |  | 130 |  |  | 95 |
Interest on lease liabilities | 18 |  |  | 15 |  |  | 8 |
Short-term lease cost | 15 |  |  | 12 |  |  | 11 |
Variable lease cost | 637 |  |  | 766 |  |  | 602 |
Sublease income | (3) |  |  | (4) |  |  | (4) |
Total lease cost | $ | 1,045 |  |  | $ | 1,142 |  |  | $ | 925 |
Supplemental cash flow information related to leases was as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | (228) |  |  | $ | (222) |  |  | $ | (212) |
Operating cash flows from finance leases | (18) |  |  | (15) |  |  | (8) |
Financing cash flows from finance leases | (139) |  |  | (125) |  |  | (95) |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 272 |  |  | $ | 197 |  |  | $ | 220 |
Finance leases | 124 |  |  | 163 |  |  | 148 |
Supplemental balance sheet information related to leases was as follows:
| As of December 31,
| 2024 |  | 2023
| (in millions)
Operating Leases |  |  |
Operating lease ROU assets, net of amortization | $ | 767 |  |  | $ | 683 |
Other current liabilities | $ | 172 |  |  | $ | 165 |
Long-term operating lease liabilities | 623 |  |  | 537 |
Total operating lease liabilities | $ | 795 |  |  | $ | 702 |
Finance Leases |  |  |
Finance leases, net of amortization (within property, plant and equipment) | $ | 292 |  |  | $ | 325 |
Current portion of long-term debt | $ | 126 |  |  | $ | 122 |
Long-term debt | 183 |  |  | 214 |
Total finance lease liabilities | $ | 309 |  |  | $ | 336 |
Weighted Average Remaining Lease Term |  |  |
Operating leases | 6.7 |  | 6.4
Finance leases | 3.3 |  | 3.6
Weighted Average Discount Rate |  |  |
Operating leases | 5.5 | % |  | 5.1 | %
Finance leases | 5.1 | % |  | 5.0 | %
Maturities of lease liabilities were as follows:
| As of December 31, 2024
| Operating Leases |  | Finance Leases
| (in millions)
Year Ending December 31: |  |  |
2025 | $ | 209 |  |  | $ | 138 |
2026 | 161 |  |  | 97 |
2027 | 120 |  |  | 49 |
2028 | 109 |  |  | 25 |
2029 | 82 |  |  | 12 |
Thereafter | 277 |  |  | 16 |
Total future undiscounted lease payments | $ | 958 |  |  | $ | 337 |
less: imputed interest | (163) |  |  | (28) |
Total reported lease liability | $ | 795 |  |  | $ | 309 |
Leases | Note 5. Leases We have operating and finance leases for manufacturing and distribution facilities, vehicles, equipment and office space. Our leases generally have remaining lease terms of 1 to 15 years, some of which include options to extend the leases for up to 10 years. The components of lease costs were as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in millions)
Operating lease cost | $ | 234 |  |  | $ | 223 |  |  | $ | 213 |
Finance lease cost: |  |  |  |  |
Amortization of ROU assets | 144 |  |  | 130 |  |  | 95 |
Interest on lease liabilities | 18 |  |  | 15 |  |  | 8 |
Short-term lease cost | 15 |  |  | 12 |  |  | 11 |
Variable lease cost | 637 |  |  | 766 |  |  | 602 |
Sublease income | (3) |  |  | (4) |  |  | (4) |
Total lease cost | $ | 1,045 |  |  | $ | 1,142 |  |  | $ | 925 |
Supplemental cash flow information related to leases was as follows:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | (228) |  |  | $ | (222) |  |  | $ | (212) |
Operating cash flows from finance leases | (18) |  |  | (15) |  |  | (8) |
Financing cash flows from finance leases | (139) |  |  | (125) |  |  | (95) |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 272 |  |  | $ | 197 |  |  | $ | 220 |
Finance leases | 124 |  |  | 163 |  |  | 148 |
Supplemental balance sheet information related to leases was as follows:
| As of December 31,
| 2024 |  | 2023
| (in millions)
Operating Leases |  |  |
Operating lease ROU assets, net of amortization | $ | 767 |  |  | $ | 683 |
Other current liabilities | $ | 172 |  |  | $ | 165 |
Long-term operating lease liabilities | 623 |  |  | 537 |
Total operating lease liabilities | $ | 795 |  |  | $ | 702 |
Finance Leases |  |  |
Finance leases, net of amortization (within property, plant and equipment) | $ | 292 |  |  | $ | 325 |
Current portion of long-term debt | $ | 126 |  |  | $ | 122 |
Long-term debt | 183 |  |  | 214 |
Total finance lease liabilities | $ | 309 |  |  | $ | 336 |
Weighted Average Remaining Lease Term |  |  |
Operating leases | 6.7 |  | 6.4
Finance leases | 3.3 |  | 3.6
Weighted Average Discount Rate |  |  |
Operating leases | 5.5 | % |  | 5.1 | %
Finance leases | 5.1 | % |  | 5.0 | %
Maturities of lease liabilities were as follows:
| As of December 31, 2024
| Operating Leases |  | Finance Leases
| (in millions)
Year Ending December 31: |  |  |
2025 | $ | 209 |  |  | $ | 138 |
2026 | 161 |  |  | 97 |
2027 | 120 |  |  | 49 |
2028 | 109 |  |  | 25 |
2029 | 82 |  |  | 12 |
Thereafter | 277 |  |  | 16 |
Total future undiscounted lease payments | $ | 958 |  |  | $ | 337 |
less: imputed interest | (163) |  |  | (28) |
Total reported lease liability | $ | 795 |  |  | $ | 309 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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
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- 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
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