Operating Leases

12 Months Ended

Dec. 31, 2023

The classification of the Company's operating lease ROU assets and liabilities in the consolidated balance sheets as of December 31, 2023 and 2022, is as follows (in millions):


		December 31,
	Classification	2023		2022
Operating lease ROU assets	Other noncurrent assets	$	214	$	251

Operating lease liabilities	Accounts payable, accrued and other liabilities	$	85	$	99
	Other noncurrent liabilities	178		219
Total operating lease liabilities		$	263	$	318

Operating lease cost was $90 million, $157 million and $137 million, and variable lease cost was $27 million, $29 million and $33 million for the years ended December 31, 2023, 2022 and 2021, respectively. Operating lease cost for the year ended December 31, 2022, included $43 million, in ROU asset impairment charges. There were no significant ROU asset impairment losses recognized during the years ended December 31, 2023 and 2021. Cash paid for amounts included in the measurement of operating lease liabilities included in operating cash flows was $106 million, $124 million and $135 million for the years ended December 31, 2023, 2022 and 2021, respectively. Operating lease ROU assets obtained in exchange for operating lease liabilities was $47 million and $36 million for the years ended December 31, 2023 and 2022, respectively. The weighted average remaining operating lease term was 4.4 years and 4.7 years and the weighted average operating lease discount rate was 2.8% and 2.6% as of December 31, 2023 and 2022, respectively.

Maturities of operating lease liabilities, as of December 31, 2023, are as follows (in millions):


2024	$	92
2025	63
2026	49
2027	30
2028	23
Thereafter	25
Total lease payments	282
Less: Imputed interest	(19)
Total operating lease liabilities	$	263