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LEASES (Notes) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Leases of Lessee Disclosure [Text Block] | LEASES We lease certain buildings, warehouses, office space, pipeline capacity, land and equipment, including pipeline equipment, rail cars and information technology equipment. Our lease payments are generally straight-line and the exercise of lease renewal options, which vary in term, is at our sole discretion. We include renewal periods in a lease term if we are reasonably certain to exercise available renewal options. We apply the short-term policy election, which allows us to exclude from recognition leases with an initial term of 12 months or less. Our lease agreements do not include any residual value guarantees or material restrictive covenants. Through ONEOK Leasing Company, L.L.C. and ONEOK Parking Company, L.L.C., we own an office building and a parking garage and lease excess space in these facilities to affiliates and others. Our consolidated lease income is not material. The following table sets forth information about our lease assets and liabilities included in our Consolidated Balance Sheet as of the dates indicated:
Leases | Location in our Consolidated Balance Sheet |  | December 31, 2022 |  | December 31, 2021
|  |  | (Thousands of dollars)
Assets |  |  |  |  |
Operating leases | Other assets |  | $ | 82,838 |  |  | $ | 89,558 |
Finance lease | Property, plant and equipment |  | 31,264 |  |  | 29,962 |
Finance lease | Accumulated depreciation |  | (4,769) |  |  | (3,590) |
Total leased assets |  |  | $ | 109,333 |  |  | $ | 115,930 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating leases | Operating lease liability |  | $ | 12,289 |  |  | $ | 13,783 |
Finance lease | Other current liabilities |  | 2,954 |  |  | 2,584 |
Noncurrent |  |  |  |  |
Operating leases | Operating lease liability |  | 68,110 |  |  | 75,636 |
Finance lease | Other deferred credits |  | 19,299 |  |  | 21,082 |
Total lease liabilities |  |  | $ | 102,652 |  |  | $ | 113,085 |
The following table sets forth information about our leases for the periods indicated:
| December 31, 2022 |  | December 31, 2021
Weighted average remaining lease term (years) |  |  |
Operating leases | 7.5 |  | 7.8
Finance lease | 5.5 |  | 6.6
Weighted average discount rate (a) |  |  |
Operating leases | 3.54% |  | 3.40%
Finance lease | 9.43% |  | 9.60%
(a) - Our weighted-average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease. The following table sets forth the maturity of our lease liabilities as of December 31, 2022:
|  | Finance Lease |  | Operating Leases
|  | (Millions of dollars)
2023 |  | $ | 4.9 |  |  | $ | 14.6 |
2024 |  | 4.9 |  |  | 13.2 |
2025 |  | 5.6 |  |  | 11.8 |
2026 |  | 5.3 |  |  | 12.0 |
2027 |  | 4.5 |  |  | 11.5 |
2028 and beyond |  | 3.7 |  |  | 29.4 |
Total lease payments |  | 28.9 |  |  | 92.5 |
Less: Interest |  | 6.6 |  |  | 12.1 |
Present value of lease liabilities |  | $ | 22.3 |  |  | $ | 80.4 |
Our lease costs and supplemental cash flow information related to our leases for the periods ended December 31, 2022 and 2021 are not material.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI https://asc.fasb.org/topic&trid=2208923 + Details
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