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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Additional information regarding operating leases | Additional information regarding the Company’s operating leases is as follows:
|  | December 31,
|  | 2023 |  | 2022
Operating lease costs |  | $ | 33 |  |  | $ | 34 |
Sublease income (1) |  | $ | (2) |  |  | $ | (1) |
Cash payments included in the measurement of lease liabilities reported in operating cash flows |  | $ | 31 |  |  | $ | 26 |
Right-of-use assets obtained in exchange for new lease liabilities |  | $ | 28 |  |  | $ | 43 |
Right-of-use assets (2) |  | $ | 125 |  |  | $ | 123 |
Operating lease liability (2) |  | $ | 156 |  |  | $ | 152 |
Weighted average discount rate |  | 4.7 | % |  | 4.2 | %
Weighted average remaining lease term |  | 7.2 years |  | 6.6 years
(1) The sublease income primarily relates to office property in Raleigh, North Carolina. (2) The right-of-use assets are included in ‘other assets’ while the operating lease liability is included in ‘other liabilities.’
Contractual maturities of operating lease liabilities | The following table presents the contractual maturities of the Company's operating lease liabilities at December 31, 2023:
Years Ending December 31, |  |
2024 |  | $ | 32 |
2025 |  | 27 |
2026 |  | 26 |
2027 |  | 22 |
2028 |  | 19 |
2029 and thereafter |  | 60 |
Total undiscounted lease liability |  | $ | 186 |
Less: present value adjustment |  | (30) |
Operating lease liability |  | $ | 156 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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