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Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Schedule of Balances and Classification of Operating Lease Right-of-Use Assets and Operating Lease Liabilities within Condensed Consolidated Balance Sheet | The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Condensed Consolidated Balance Sheets is as follows:
(in millions) |  |  | June 30, 2024 |  |  | December 31, 2023 |
Assets: |  |  |  |  |  |  |
Operating lease right-of-use assets | Operating lease assets |  | $ | 192 |  |  | $ | 199 |
Total assets |  |  |  | 192 |  |  |  | 199 |
Liabilities: |  |  |  |  |  |  |
Current operating lease liabilities | Accrued expenses and other liabilities |  |  | 45 |  |  |  | 45 |
Non-current operating lease liabilities | Operating lease liabilities |  |  | 180 |  |  |  | 179 |
Total liabilities |  |  | $ | 225 |  |  | $ | 224 |
Schedule of Components of Lease Cost for Operating Leases | The components of lease cost for operating leases were as follows:
| Three months ended June 30, |  |  | Six months ended June 30, |
(in millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating leases: |  |  |  |  |  |  |  |  |  |  |
Lease cost | $ | 14 |  |  | $ | 14 |  |  | $ | 28 |  |  | $ | 29 |
Variable lease cost |  | 1 |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |
Operating lease cost |  | 15 |  |  |  | 15 |  |  |  | 30 |  |  |  | 31 |
Sublease income |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (1 | )
Total lease cost net | $ | 15 |  |  | $ | 15 |  |  | $ | 29 |  |  | $ | 30 |
Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Operating Leases | The weighted average remaining lease term and the weighted average discount rate for operating leases as of June 30, 2024 were:
Weighted average remaining lease term in years |  |  | 6.14 |
Weighted average discount rate |  |  | 3.66 | %
Schedule of Maturities of Operating Lease Liabilities | Maturities of the operating lease liabilities by fiscal year at June 30, 2024 for the Company's operating leases are as follows:
(in millions) |  | Operating leases |
2024 (Remainder) |  | $ | 24 |
2025 |  |  | 53 |
2026 |  |  | 43 |
2027 |  |  | 35 |
2028 |  |  | 27 |
Thereafter |  |  | 69 |
Total undiscounted lease payments |  |  | 251 |
Less: imputed interest |  |  | 26 |
Present value of lease payments |  | $ | 225 |
Schedule of Supplemental Cash Flow Information | Supplemental cash flow information for operating leases is as follows:
| Three months ended June 30, |  |  | Six months ended June 30, |
(in millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cash paid for amounts included in measurement of liabilities |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 15 |  |  | $ | 15 |  |  | $ | 30 |  |  | $ | 30 |
Right-of-use assets obtained in exchange for new operating liabilities | $ | 13 |  |  | $ | 6 |  |  | $ | 25 |  |  | $ | 10 |

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- Definition Schedule of balances and classification of operating lease right-of-use assets and operating lease liabilities. + References No definition available. + Details
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- Definition Schedule of supplemental cash flow information for operating leases. + References No definition available. + Details
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- Definition Schedule of weighted average remaining lease term and the weighted average discount rate for operating leases. + References No definition available. + Details
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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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