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v3.22.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2022
Leases [Abstract] |
Leases | Leases The Company leases certain office, factory and warehouse space, land and other equipment, principally under non-cancelable operating leases. Components of Lease Expense
(in millions) | December 31, 2022 |  | December 31, 2021
Lease expense: |  |  |
Operating lease cost | $ | 130 |  |  | $ | 133 |
Finance lease cost |  |  |
Amortization of right-of-use assets | $ | 6 |  |  | $ | 10 |
Short-term lease cost | $ | 1 |  |  | $ | 2 |
Variable cost | 33 |  |  | 36 |
Sublease income | (5) |  |  | (7) |
Net lease expense | $ | 165 |  |  | $ | 174 |
Lease Assets and Liabilities
(in millions) |  | Statement Line Classification |  | December 31, 2022 |  | December 31, 2021 |  |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 485 |  |  | $ | 382 |  |  |
Finance lease assets |  | Property, plant, and equipment, net |  | 9 |  |  | 16 |  |  |
|  |  |  | $ | 494 |  |  | $ | 398 |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Accrued liabilities |  | $ | 118 |  |  | $ | 124 |  |  |
Finance lease liabilities |  | Current portion of long-term debt |  | 1 |  |  | 4 |  |  |
|  |  |  | $ | 119 |  |  | $ | 128 |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | $ | 419 |  |  | $ | 313 |  |  |
Other Information Related to Leases
(in millions) | December 31, 2022 |  | December 31, 2021 |  |
Supplemental cash flow information: |  |  |  |  |
Net cash used for operating activities related to operating leases | $ | 145 |  |  | $ | 145 |  |  |
Net cash used for operating activities related to finance leases | — |  |  | — |  |  |
Net cash used for financing activities related to finance leases | 4 |  |  | 11 |  |  |
Assets obtained in exchange for lease liabilities: |  |  |  |  |
Operating leases | $ | 221 |  |  | $ | 40 |  |  |
During the year ended December 31, 2022 the Company recorded $150 million of assets obtained in exchange for lease liabilities due to an assumption that it is reasonably certain that renewal options will be extended on its radio tower site leases operated within the Airwave radio network consistent with the contract extension of the radio communication services through 2026. In addition, assets obtained in exchange for lease liabilities of $34 million were recorded in connection with the Company's acquisition of TETRA Ireland on March 23, 2022.
| December 31, 2022 |  | December 31, 2021 |  |
Weighted average remaining lease terms (years): |  |  |  |  |
Operating leases | 5 |  | 6 |  |
Finance leases | 1 |  | 1 |  |
Weighted average discount rate: |  |  |  |  |
Operating leases | 4.07 | % |  | 3.11 | % |  |
Finance leases | 3.23 | % |  | 3.99 | % |  |
Future Lease Payments
December 31 (in millions) | Operating Leases |  | Finance Leases |  | Total
2023 | $ | 137 |  |  | $ | 1 |  |  | $ | 138 |
2024 | 125 |  |  | — |  |  | 125 |
2025 | 108 |  |  | — |  |  | 108 |
2026 | 93 |  |  | — |  |  | 93 |
2027 | 50 |  |  | — |  |  | 50 |
Thereafter | 80 |  |  | — |  |  | 80 |
Total lease payments | $ | 593 |  |  | $ | 1 |  |  | $ | 594 |
Less: Interest | 56 |  |  | — |  |  | 56 |
Present value of lease liabilities | $ | 537 |  |  | $ | 1 |  |  | $ | 538 |
Leases | Leases The Company leases certain office, factory and warehouse space, land and other equipment, principally under non-cancelable operating leases. Components of Lease Expense
(in millions) | December 31, 2022 |  | December 31, 2021
Lease expense: |  |  |
Operating lease cost | $ | 130 |  |  | $ | 133 |
Finance lease cost |  |  |
Amortization of right-of-use assets | $ | 6 |  |  | $ | 10 |
Short-term lease cost | $ | 1 |  |  | $ | 2 |
Variable cost | 33 |  |  | 36 |
Sublease income | (5) |  |  | (7) |
Net lease expense | $ | 165 |  |  | $ | 174 |
Lease Assets and Liabilities
(in millions) |  | Statement Line Classification |  | December 31, 2022 |  | December 31, 2021 |  |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 485 |  |  | $ | 382 |  |  |
Finance lease assets |  | Property, plant, and equipment, net |  | 9 |  |  | 16 |  |  |
|  |  |  | $ | 494 |  |  | $ | 398 |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Accrued liabilities |  | $ | 118 |  |  | $ | 124 |  |  |
Finance lease liabilities |  | Current portion of long-term debt |  | 1 |  |  | 4 |  |  |
|  |  |  | $ | 119 |  |  | $ | 128 |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | $ | 419 |  |  | $ | 313 |  |  |
Other Information Related to Leases
(in millions) | December 31, 2022 |  | December 31, 2021 |  |
Supplemental cash flow information: |  |  |  |  |
Net cash used for operating activities related to operating leases | $ | 145 |  |  | $ | 145 |  |  |
Net cash used for operating activities related to finance leases | — |  |  | — |  |  |
Net cash used for financing activities related to finance leases | 4 |  |  | 11 |  |  |
Assets obtained in exchange for lease liabilities: |  |  |  |  |
Operating leases | $ | 221 |  |  | $ | 40 |  |  |
During the year ended December 31, 2022 the Company recorded $150 million of assets obtained in exchange for lease liabilities due to an assumption that it is reasonably certain that renewal options will be extended on its radio tower site leases operated within the Airwave radio network consistent with the contract extension of the radio communication services through 2026. In addition, assets obtained in exchange for lease liabilities of $34 million were recorded in connection with the Company's acquisition of TETRA Ireland on March 23, 2022.
| December 31, 2022 |  | December 31, 2021 |  |
Weighted average remaining lease terms (years): |  |  |  |  |
Operating leases | 5 |  | 6 |  |
Finance leases | 1 |  | 1 |  |
Weighted average discount rate: |  |  |  |  |
Operating leases | 4.07 | % |  | 3.11 | % |  |
Finance leases | 3.23 | % |  | 3.99 | % |  |
Future Lease Payments
December 31 (in millions) | Operating Leases |  | Finance Leases |  | Total
2023 | $ | 137 |  |  | $ | 1 |  |  | $ | 138 |
2024 | 125 |  |  | — |  |  | 125 |
2025 | 108 |  |  | — |  |  | 108 |
2026 | 93 |  |  | — |  |  | 93 |
2027 | 50 |  |  | — |  |  | 50 |
Thereafter | 80 |  |  | — |  |  | 80 |
Total lease payments | $ | 593 |  |  | $ | 1 |  |  | $ | 594 |
Less: Interest | 56 |  |  | — |  |  | 56 |
Present value of lease liabilities | $ | 537 |  |  | $ | 1 |  |  | $ | 538 |

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