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Leases (Notes) | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Leases | LEASES The Company has leases for corporate offices, manufacturing facilities, research and development facilities, and certain transportation and office equipment, the majority of which are operating leases. The Company's leases have remaining lease terms of up to 40 years, some of which include options to extend the leases for up to 5 years. The components of lease expense were as follows:
| December 31,
(DOLLARS IN MILLIONS) | 2021 |  | 2020
Operating lease cost | $ | 168 |  |  | $ | 62 |
Financing lease cost | 7 |  |  | 4 |
Supplemental cash flow information related to leases was as follows:
| December 31,
(DOLLARS IN MILLIONS) | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flow for operating leases | $ | 129 |  |  | $ | 52 |
Financing cash flow for finance leases | 6 |  |  | 4 |
Right-of-use assets obtained in exchange for lease obligations |  |  |
Operating leases | 88 |  |  | 63 |
Finance leases | 15 |  |  | 6 |
Supplemental balance sheet information related to leases was as follows:
| December 31,
(DOLLARS IN MILLIONS) | 2021 |  | 2020
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 767 |  |  | $ | 299 |
Current operating lease obligations(2) | 109 |  |  | 41 |
Operating lease liabilities | 670 |  |  | 265 |
Total operating lease liabilities | $ | 779 |  |  | $ | 306 |
Financing Leases |  |  |
Financing lease right-of-use assets(1) | $ | 21 |  |  | $ | 8 |
Current financing lease obligations(2) | 5 |  |  | 3 |
Financing lease liabilities(3) | 15 |  |  | 4 |
Total financing lease liabilities | $ | 20 |  |  | $ | 7 |
_______________________ (1)Presented in Other assets in the Consolidated Balance Sheets. (2)Presented in Other current liabilities in the Consolidated Balance Sheets. (3)Presented in Other liabilities in the Consolidated Balance Sheets. Weighted average remaining lease term and discount rate were as follows:
| December 31,
| 2021 |  | 2020
Weighted average remaining lease term in years |  |  |
Operating leases | 11.1 |  | 10.5
Finance leases | 4.3 |  | 2.9
Weighted average discount rate |  |  |
Operating leases | 2.73 | % |  | 3.82 | %
Finance leases | 1.85 | % |  | 1.81 | %
Maturities of lease liabilities as of December 31, 2021 were as follows:
(DOLLARS IN MILLIONS) | Operating Leases |  | Financing Leases |  | Total
2022 | $ | 127 |  |  | $ | 7 |  |  | $ | 134 |
2023 | 97 |  |  | 5 |  |  | 102 |
2024 | 82 |  |  | 3 |  |  | 85 |
2025 | 78 |  |  | 2 |  |  | 80 |
2026 | 73 |  |  | 2 |  |  | 75 |
Thereafter | 459 |  |  | 2 |  |  | 461 |
Total undiscounted liabilities | 916 |  |  | 21 |  |  | 937 |
Less: Imputed interest | (137) |  |  | (1) |  |  | (138) |
Total lease liabilities | $ | 779 |  |  | $ | 20 |  |  | $ | 799 |
Right-of-use assets and lease liabilities acquired from N&B were remeasured at the present value of the future minimum lease payments over the remaining lease term utilizing an updated incremental borrowing rate of the Company as if the acquired leases were new leases as of the Closing Date. Right-of-use assets were further adjusted for any off-market terms of the lease. The remaining lease term is based on the remaining term at the Closing Date plus any renewal or extension options that the Company is reasonably certain will be exercised. Additionally, the Company has elected short-term lease treatment for those acquired lease contracts which, at the Closing Date, have a remaining lease term of 12 months or less. For the leases acquired through the Transactions, the Company will retain the previous lease classification. This resulted in an increase in both right-of-use assets and operating lease liabilities of approximately $525 million and $523 million, respectively, as of the Closing Date.

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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