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Leases
 9 Months Ended
Oct. 01, 2022
Leases [Abstract]  
Leases Leases
Components of Lease Expense
Three Months EndedNine Months Ended
(in millions)October 1, 2022October 2, 2021October 1, 2022October 2, 2021
Lease expense:
Operating lease cost$32 $34 $98 $101 
Finance lease cost
Amortization of right-of-use assets$1 $2 $5 $8 
Short-term lease cost$— $— $1 $2 
Variable cost9 9 26 27 
Sublease income(1)(2)(4)(4)
Net lease expense$41 $43 $126 $134 
Lease Assets and Liabilities
(in millions)Statement Line ClassificationOctober 1, 2022December 31, 2021
Assets:
Operating lease assetsOperating lease assets$338 $382 
Finance lease assetsProperty, plant and equipment, net10 16 
$348 $398 
Current liabilities:
Operating lease liabilitiesAccrued liabilities$77 $124 
Finance lease liabilitiesCurrent portion of long-term debt1 4 
$78 $128 
Non-current liabilities:
Operating lease liabilitiesOperating lease liabilities$302 $313 
$302 $313 
Other Information Related to Leases
Nine Months Ended
(in millions)October 1, 2022October 2, 2021
Supplemental cash flow information:
Net cash used for operating activities related to operating leases$124 $124 
Net cash used for financing activities related to finance leases4 9 
Assets obtained in exchange for lease liabilities:
Operating leases$77 $31 
The increase in assets obtained in exchange for lease liabilities for the nine months ended October 1, 2022 compared to the nine months ended October 2, 2021 was primarily due to $34 million of additional leases acquired in connection with the Company's acquisition of TETRA Ireland on March 23, 2022.
October 1, 2022December 31, 2021
Weighted average remaining lease terms (years):
Operating leases66
Finance leases11
Weighted average discount rate:
Operating leases3.13 %3.11 %
Finance leases3.84 %3.99 %
Future Lease Payments
October 1, 2022
(in millions)Operating LeasesFinance LeasesTotal
Remainder of 2022$18 $— $18 
202391 1 92 
202477 — 77 
202563 — 63 
202650 — 50 
Thereafter118 — 118 
Total lease payments$417 $1 $418 
Less: Interest38 — 38 
Present value of lease liabilities$379 $1 $380 
Leases Leases
Components of Lease Expense
Three Months EndedNine Months Ended
(in millions)October 1, 2022October 2, 2021October 1, 2022October 2, 2021
Lease expense:
Operating lease cost$32 $34 $98 $101 
Finance lease cost
Amortization of right-of-use assets$1 $2 $5 $8 
Short-term lease cost$— $— $1 $2 
Variable cost9 9 26 27 
Sublease income(1)(2)(4)(4)
Net lease expense$41 $43 $126 $134 
Lease Assets and Liabilities
(in millions)Statement Line ClassificationOctober 1, 2022December 31, 2021
Assets:
Operating lease assetsOperating lease assets$338 $382 
Finance lease assetsProperty, plant and equipment, net10 16 
$348 $398 
Current liabilities:
Operating lease liabilitiesAccrued liabilities$77 $124 
Finance lease liabilitiesCurrent portion of long-term debt1 4 
$78 $128 
Non-current liabilities:
Operating lease liabilitiesOperating lease liabilities$302 $313 
$302 $313 
Other Information Related to Leases
Nine Months Ended
(in millions)October 1, 2022October 2, 2021
Supplemental cash flow information:
Net cash used for operating activities related to operating leases$124 $124 
Net cash used for financing activities related to finance leases4 9 
Assets obtained in exchange for lease liabilities:
Operating leases$77 $31 
The increase in assets obtained in exchange for lease liabilities for the nine months ended October 1, 2022 compared to the nine months ended October 2, 2021 was primarily due to $34 million of additional leases acquired in connection with the Company's acquisition of TETRA Ireland on March 23, 2022.
October 1, 2022December 31, 2021
Weighted average remaining lease terms (years):
Operating leases66
Finance leases11
Weighted average discount rate:
Operating leases3.13 %3.11 %
Finance leases3.84 %3.99 %
Future Lease Payments
October 1, 2022
(in millions)Operating LeasesFinance LeasesTotal
Remainder of 2022$18 $— $18 
202391 1 92 
202477 — 77 
202563 — 63 
202650 — 50 
Thereafter118 — 118 
Total lease payments$417 $1 $418 
Less: Interest38 — 38 
Present value of lease liabilities$379 $1 $380