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LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Components of Lease Cost

The components of lease cost for the years ended December 31, 2024, 2023 and 2022 were:

(in millions)			2024						2023						2022
Operating lease cost			$	89					$	94					$	93
Finance lease cost
Amortization of right-of-use assets			4						3						3
Interest on lease liabilities			1						1						1
Variable lease cost			54						45						44
Lease cost			$	148					$	143					$	141

The following table contains supplemental cash flow information related to leases for the years ended December 31, 2024, 2023 and 2022:

(in millions)			2024						2023						2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	100					$	115					$	108
Operating cash flows from finance leases			5						3						2
Financing cash flows from finance leases			2						1						1
Right-of-use operating lease assets obtained in exchange for lease obligations			64						66						59
Right-of-use finance lease assets obtained in exchange for lease obligations			1						15						—

Lease term and discount rates as of December 31, 2024 and 2023 were:

			December 31, 2024						December 31, 2023
Weighted-average remaining lease term (years)
Operating leases			6						6
Finance leases			8						8
Weighted-average discount rate
Operating leases			3.1		%				3.0		%
Finance leases			4.2		%				3.9		%

Supplemental Balance Sheet Information Related To Leases

Supplemental balance sheet information related to leases as of December 31, 2024 and 2023 include:

(in millions)			2024						2023
Operating leases
Operating lease right-of-use assets			$	306					$	336
Accrued expenses and other current liabilities			$	80					$	92
Operating lease liabilities			243						265
Total operating lease liabilities			$	323					$	357
Finance leases
Property, plant and equipment, at cost			$	33					$	33
Accumulated depreciation			(15)						(13)
Property, plant and equipment, net			$	18					$	20
Current maturities of long-term debt and finance lease obligations			$	2					$	2
Long-term debt and finance lease obligations			19						25
Total finance lease liabilities			$	21					$	27

Maturities of Operating Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2024 were:

(in millions)			Finance Leases			Operating Leases
2025			$	4		$	93
2026			4			75
2027			4			63
2028			3			44
2029			3			24
Thereafter			10			62
Total minimum lease payments			28			361
Less: imputed interest			(7)			(38)
Present value of lease liabilities			$	21		$	323

Maturities of Finance Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2024 were:

(in millions)			Finance Leases			Operating Leases
2025			$	4		$	93
2026			4			75
2027			4			63
2028			3			44
2029			3			24
Thereafter			10			62
Total minimum lease payments			28			361
Less: imputed interest			(7)			(38)
Present value of lease liabilities			$	21		$	323

Components of Lease Revenue

The components of lease revenue for the years ended December 31, 2024, 2023 and 2022 were:

(in millions)			2024						2023						2022
Sales-type lease revenue			$	10					$	7					$	8
Operating lease revenue			380						397						401
Variable lease revenue			28						21						17
Total lease revenue			$	418					$	425					$	426

Components of Net Investment In Sales-Type Leases

The components of our net investment in sales-type leases as of December 31, 2024 and 2023 were:

(in millions)			2024						2023
Minimum lease payments			$	38					$	50
Unguaranteed residual values			(1)						—
Net investment in leases			$	37					$	50

Our net investment in sales-type leases is classified as follows in the accompanying consolidated balance sheets as of December 31, 2024 and 2023:

(in millions)			2024						2023
Accounts receivable, net			$	15					$	25
Other non-current assets			22						26
Total			$	37					$	51

Maturities of Sales-Type Leases

Maturities of sales-type and operating leases as of December 31, 2024 were:

(in millions)			Sales-type Leases1			Operating Leases
2025			$	20		$	13
2026			7			9
2027			5			3
2028			4			1
2029			1			7
Thereafter			—			—
Total minimum lease payments			$	37		$	33

1 Unamortized imputed interest on minimum lease payments was less than $1 million as of December 31, 2024

Maturities of Operating Leases

Maturities of sales-type and operating leases as of December 31, 2024 were:

(in millions)			Sales-type Leases1			Operating Leases
2025			$	20		$	13
2026			7			9
2027			5			3
2028			4			1
2029			1			7
Thereafter			—			—
Total minimum lease payments			$	37		$	33

1 Unamortized imputed interest on minimum lease payments was less than $1 million as of December 31, 2024

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