XML 48 R36.htm IDEA: XBRL DOCUMENT v3.22.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Lease, Cost
The components of lease cost included in income from continuing operations were as follows, in millions:
Year Ended December 31,
 202220212020
Operating lease cost$56 $48 $47 
Short-term lease cost10 8 7
Variable lease cost5 4 3
Finance lease cost:
Amortization of right-of-use assets3 3 3
Interest on lease liabilities1 1 1
Schedule of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows, in millions:
Year Ended December 31,
 202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$47 $47 $47 
Operating cash flows for finance leases1 1 1
Financing cash flows for finance leases2 2 2
 
ROU assets obtained in exchange for new lease obligations:
Operating leases (A)
126 67 27 
Finance leases— — — 
______________________________
(A)Includes $2 million of ROU assets obtained in exchange for new lease obligations related to the acquisitions of ESS and Steamist in 2021. Includes $9 million of ROU assets obtained in exchange for new lease obligations related to the acquisitions of Kraus and Work Tools in the fourth quarter of 2020.
Lessee, Other Lease Information Certain other information related to leases was as follows:
At December 31,
202220212020
Weighted-average remaining lease term:
Operating leases10 years9 years10 years
Finance leases9 years9 years10 years
 
Weighted-average discount rate:
Operating leases4.8 %4.0 %4.4 %
Finance leases3.3 %3.3 %3.3 %
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows, in millions:
At December 31,
20222021
Operating LeasesFinance LeasesOperating LeasesFinance Leases
Property and equipment, net$— $21 $— $24 
Notes payable— 3 — 3 
Accrued liabilities39 — 38 — 
Long-term debt— 20 — 23 
Finance Lease, Liability, Maturity
At December 31, 2022, future maturities of lease liabilities were as follows, in millions:
Operating LeasesFinance Leases
Year ending December 31,
2023$50 $3 
202447 3 
202542 3 
202638 3 
202730 3 
Thereafter174 11 
Total lease payments381 26 
Less: imputed interest(87)(3)
Total$294 $23 
Operating Lease, Liability, Maturity
At December 31, 2022, future maturities of lease liabilities were as follows, in millions:
Operating LeasesFinance Leases
Year ending December 31,
2023$50 $3 
202447 3 
202542 3 
202638 3 
202730 3 
Thereafter174 11 
Total lease payments381 26 
Less: imputed interest(87)(3)
Total$294 $23