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Leases (Notes)
 12 Months Ended
Dec. 31, 2024
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 50 years, some of which include options to extend the leases for up to 15 years.
The components of lease expense were as follows:
December 31,
(DOLLARS IN MILLIONS)202420232022
Operating leases
Operating lease cost$126 $137 $134 
Variable lease cost58 56 53 
Total operating lease cost$184 $193 $187 
Finance leases
Finance lease cost$12 $10 $8 
Supplemental cash flow information related to leases was as follows:
December 31,
(DOLLARS IN MILLIONS)202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$122 $122 $135 
Operating cash flows for finance leases1 1 — 
Financing cash flows for finance leases10 8 7 
Right-of-use assets obtained in exchange for lease obligations
Operating leases53 49 174 
Finance leases16 22 7 
Supplemental balance sheet information related to leases was as follows:
December 31,
(DOLLARS IN MILLIONS)20242023
Operating Leases
Operating lease right-of-use assets$573 $689 
Current operating lease obligations(2)
82 85 
Operating lease liabilities534 642 
Total operating lease liabilities$616 $727 
Finance Leases
Finance lease right-of-use assets(1)
$27 $26 
Current finance lease obligations(2)
10 7 
Finance lease liabilities(3)
18 18 
Total finance lease liabilities$28 $25 
_______________________
(1)Presented in Other assets on the Consolidated Balance Sheets.
(2)Presented in Other current liabilities on the Consolidated Balance Sheets.
(3)Presented in Other liabilities on the Consolidated Balance Sheets.
Weighted average remaining lease term and discount rate were as follows:
December 31,
20242023
Weighted average remaining lease term in years
Operating leases9.59.9
Finance leases3.13.5
Weighted average discount rate
Operating leases4.32 %4.24 %
Finance leases4.63 %4.33 %

Maturities of lease liabilities as of December 31, 2024 were as follows:
(DOLLARS IN MILLIONS)Operating LeasesFinance LeasesTotal
2025$106 $11 $117 
202696 10 106 
202784 6 90 
202874 2 76 
202964 1 65 
Thereafter328 — 328 
Total undiscounted liabilities752 30 782 
Less: Imputed interest(136)(2)(138)
Total lease liabilities$616 $28 $644 
As a result of the Company’s acquisition of Health Wright, there was an increase of approximately $22 million in finance lease right-of-use assets and $21 million in finance lease liabilities as of the Acquisition Date. In the fourth quarter of 2022, the Company exercised its option to purchase the asset and, as such, de-recognized the finance lease right-of-use assets and finance lease liabilities.