XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.23.3

Leases | 9 Months Ended
--- | ---
Sep. 30, 2023
Leases [Abstract] |
Leases | Leases Components of Lease Expense
| Three Months Ended |  | Nine Months Ended
(in millions) | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Lease expense: |  |  |  |  |  |  |
Operating lease cost | $ | 35 |  |  | $ | 32 |  |  | $ | 103 |  |  | $ | 98 |
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 5 |
Short-term lease cost | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |
Variable cost | 10 |  |  | 9 |  |  | 28 |  |  | 26 |
Sublease income | (1) |  |  | (1) |  |  | (3) |  |  | (4) |
Net lease expense | $ | 45 |  |  | $ | 41 |  |  | $ | 131 |  |  | $ | 126 |
Lease Assets and Liabilities
(in millions) |  | Statement Line Classification |  | September 30, 2023 |  | December 31, 2022 |  |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 453 |  |  | $ | 485 |  |  |
Finance lease assets |  | Property, plant and equipment, net |  | 8 |  |  | 9 |  |  |
|  |  |  | $ | 461 |  |  | $ | 494 |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Accrued liabilities |  | $ | 118 |  |  | $ | 118 |  |  |
Finance lease liabilities |  | Current portion of long-term debt |  | — |  |  | 1 |  |  |
|  |  |  | $ | 118 |  |  | $ | 119 |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | $ | 368 |  |  | $ | 419 |  |  |
Other Information Related to Leases
| Nine Months Ended |  |
(in millions) | September 30, 2023 |  | October 1, 2022 |  |
Supplemental cash flow information: |  |  |  |  |
Net cash used for operating activities related to operating leases | $ | 103 |  |  | $ | 124 |  |  |
Net cash used for financing activities related to finance leases | 1 |  |  | 4 |  |  |
Assets obtained in exchange for lease liabilities: |  |  |  |  |
Operating leases | $ | 52 |  |  | $ | 77 |  |  |
Assets obtained in exchange for lease liabilities for the nine months ended September 30, 2023 included $20 million of additional leases due to a renewal of a large managed services contract. Assets obtained in exchange for lease liabilities for the nine months ended October 1, 2022 included $34 million of additional leases acquired in connection with the Company's acquisition of TETRA Ireland.
| September 30, 2023 |  | December 31, 2022
Weighted average remaining lease terms (years): |  |  |
Operating leases | 5 |  | 5
Finance leases | 0 |  | 1
Weighted average discount rate: |  |  |
Operating leases | 4.26 | % |  | 4.07 | %
Finance leases | — | % |  | 3.23 | %
Future Lease Payments
| September 30, 2023 |  |  |  |
(in millions) | Operating Leases |  |  |  |
Remainder of 2023 | $ | 29 |  |  |  |  |
2024 | 135 |  |  |  |  |
2025 | 119 |  |  |  |  |
2026 | 102 |  |  |  |  |
2027 | 56 |  |  |  |  |
Thereafter | 97 |  |  |  |  |
Total lease payments | $ | 538 |  |  |  |  |
Less: Interest | 52 |  |  |  |  |
Present value of lease liabilities | $ | 486 |  |  |  |  |
Leases | Leases Components of Lease Expense
| Three Months Ended |  | Nine Months Ended
(in millions) | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Lease expense: |  |  |  |  |  |  |
Operating lease cost | $ | 35 |  |  | $ | 32 |  |  | $ | 103 |  |  | $ | 98 |
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 5 |
Short-term lease cost | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |
Variable cost | 10 |  |  | 9 |  |  | 28 |  |  | 26 |
Sublease income | (1) |  |  | (1) |  |  | (3) |  |  | (4) |
Net lease expense | $ | 45 |  |  | $ | 41 |  |  | $ | 131 |  |  | $ | 126 |
Lease Assets and Liabilities
(in millions) |  | Statement Line Classification |  | September 30, 2023 |  | December 31, 2022 |  |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 453 |  |  | $ | 485 |  |  |
Finance lease assets |  | Property, plant and equipment, net |  | 8 |  |  | 9 |  |  |
|  |  |  | $ | 461 |  |  | $ | 494 |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Accrued liabilities |  | $ | 118 |  |  | $ | 118 |  |  |
Finance lease liabilities |  | Current portion of long-term debt |  | — |  |  | 1 |  |  |
|  |  |  | $ | 118 |  |  | $ | 119 |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | $ | 368 |  |  | $ | 419 |  |  |
Other Information Related to Leases
| Nine Months Ended |  |
(in millions) | September 30, 2023 |  | October 1, 2022 |  |
Supplemental cash flow information: |  |  |  |  |
Net cash used for operating activities related to operating leases | $ | 103 |  |  | $ | 124 |  |  |
Net cash used for financing activities related to finance leases | 1 |  |  | 4 |  |  |
Assets obtained in exchange for lease liabilities: |  |  |  |  |
Operating leases | $ | 52 |  |  | $ | 77 |  |  |
Assets obtained in exchange for lease liabilities for the nine months ended September 30, 2023 included $20 million of additional leases due to a renewal of a large managed services contract. Assets obtained in exchange for lease liabilities for the nine months ended October 1, 2022 included $34 million of additional leases acquired in connection with the Company's acquisition of TETRA Ireland.
| September 30, 2023 |  | December 31, 2022
Weighted average remaining lease terms (years): |  |  |
Operating leases | 5 |  | 5
Finance leases | 0 |  | 1
Weighted average discount rate: |  |  |
Operating leases | 4.26 | % |  | 4.07 | %
Finance leases | — | % |  | 3.23 | %
Future Lease Payments
| September 30, 2023 |  |  |  |
(in millions) | Operating Leases |  |  |  |
Remainder of 2023 | $ | 29 |  |  |  |  |
2024 | 135 |  |  |  |  |
2025 | 119 |  |  |  |  |
2026 | 102 |  |  |  |  |
2027 | 56 |  |  |  |  |
Thereafter | 97 |  |  |  |  |
Total lease payments | $ | 538 |  |  |  |  |
Less: Interest | 52 |  |  |  |  |
Present value of lease liabilities | $ | 486 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration