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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Leases The Company has operating leases for real estate, vehicles and equipment. Operating leases are included in operating lease right-of-use assets, operating lease liabilities - current, and operating lease liabilities in the Consolidated Balance Sheets. Amounts recognized for finance leases as of and for the years ended December 31, 2024 and 2023 were immaterial. Lease costs incurred by lease type, and/or type of payment for the annual periods ending December 31 were as follows:
(in millions) | 2024 |  | 2023 |  | 2022
Short-term lease cost | $ | 2 |  |  | $ | 1 |  |  | $ | 2 |
Operating lease cost | 50 |  |  | 55 |  |  | 53 |
Variable lease cost | 26 |  |  | 22 |  |  | 21 |
Total lease cost | $ | 78 |  |  | $ | 78 |  |  | $ | 76 |
Other supplemental quantitative disclosures for the years ended December 31 are as follows:
(in millions) | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 50 |  |  | $ | 54 |  |  | $ | 52 |
Right-of-use assets obtained in exchange for operating lease liabilities | 82 |  |  | 42 |  |  | 62 |
Weighted-average remaining lease term (in years) - operating leases | 6.88 |  | 6.28 |  | 6.57
Weighted-average discount rate - operating leases | 4.11 | % |  | 3.39 | % |  | 2.83 | %
Estimated undiscounted future lease payments under non-cancellable operating leases as of December 31, 2024, are as follows:
(in millions) | Operating Lease Liabilities |  |
2025 | $ | 45 |  |  |
2026 | 42 |  |  |
2027 | 30 |  |  |
2028 | 24 |  |  |
2029 | 18 |  |  |
Thereafter | 65 |  |  |
Total undiscounted future cash flows | 224 |  |  |
Less: imputed interest | 31 |  |  |
Present value of future cash flows | $ | 193 |  |  |
Leases | Leases The Company has operating leases for real estate, vehicles and equipment. Operating leases are included in operating lease right-of-use assets, operating lease liabilities - current, and operating lease liabilities in the Consolidated Balance Sheets. Amounts recognized for finance leases as of and for the years ended December 31, 2024 and 2023 were immaterial. Lease costs incurred by lease type, and/or type of payment for the annual periods ending December 31 were as follows:
(in millions) | 2024 |  | 2023 |  | 2022
Short-term lease cost | $ | 2 |  |  | $ | 1 |  |  | $ | 2 |
Operating lease cost | 50 |  |  | 55 |  |  | 53 |
Variable lease cost | 26 |  |  | 22 |  |  | 21 |
Total lease cost | $ | 78 |  |  | $ | 78 |  |  | $ | 76 |
Other supplemental quantitative disclosures for the years ended December 31 are as follows:
(in millions) | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 50 |  |  | $ | 54 |  |  | $ | 52 |
Right-of-use assets obtained in exchange for operating lease liabilities | 82 |  |  | 42 |  |  | 62 |
Weighted-average remaining lease term (in years) - operating leases | 6.88 |  | 6.28 |  | 6.57
Weighted-average discount rate - operating leases | 4.11 | % |  | 3.39 | % |  | 2.83 | %
Estimated undiscounted future lease payments under non-cancellable operating leases as of December 31, 2024, are as follows:
(in millions) | Operating Lease Liabilities |  |
2025 | $ | 45 |  |  |
2026 | 42 |  |  |
2027 | 30 |  |  |
2028 | 24 |  |  |
2029 | 18 |  |  |
Thereafter | 65 |  |  |
Total undiscounted future cash flows | 224 |  |  |
Less: imputed interest | 31 |  |  |
Present value of future cash flows | $ | 193 |  |  |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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