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Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Assets And Liabilities, Lessee | Right-of-use asset balances are as follows:
(in millions) | June 30, 2024 |  | December 31, 2023
Finance lease right-of-use assets | $ | 1,622 |  |  | $ | 1,608 |
Less: accumulated amortization | (403) |  |  | (365) |
Finance lease right-of-use assets, net | $ | 1,219 |  |  | $ | 1,243 |
Operating lease right-of-use assets | $ | 894 |  |  | $ | 892 |
Less: accumulated amortization | (189) |  |  | (168) |
Operating lease right-of-use assets, net | $ | 705 |  |  | $ | 724 |
Lease liabilities are presented in the following line items in the condensed consolidated balance sheets:
| June 30, 2024 |  | December 31, 2023
(in millions) | Finance Leases |  | Operating Leases |  | Finance Leases |  | Operating Leases
Accounts payable and accrued liabilities | $ | 72 |  | $ | 53 |  | $ | 76 |  | $ | 60
Long-term finance lease obligations | 1,291 |  | — |  | 1,305 |  | —
Long-term operating lease obligations | — |  | 677 |  | — |  | 692
Total lease obligations | $ | 1,363 |  | $ | 730 |  | $ | 1,381 |  | $ | 752
Supplemental condensed consolidated balance sheet information related to leases is as follows:
| June 30, |  | December 31,
| 2024 |  | 2023
Weighted average remaining lease term (in years): |  |  |
Finance | 15.9 |  | 16.5
Operating | 15.5 |  | 15.9
Weighted average discount rate: |  |  |
Finance | 6.8 | % |  | 6.8 | %
Operating | 6.5 | % |  | 6.5 | %
Finance Lease, Liability, to be Paid, Maturity | Maturities of lease liabilities for each of the next five years and thereafter as of June 30, 2024 are as follows (in millions):
Years Ending December 31: | Finance Leases |  | Operating Leases
2024 (six months remaining) | $ | 82 |  | $ | 50
2025 | 159 |  | 97
2026 | 157 |  | 95
2027 | 151 |  | 93
2028 | 142 |  | 85
2029 and thereafter | 1,687 |  | 779
Total lease payments | 2,378 |  | 1,199
Less imputed interest | (1,015) |  | (469)
Total | $ | 1,363 |  | $ | 730
Lessee, Operating Lease, Liability, to be Paid, Maturity | Maturities of lease liabilities for each of the next five years and thereafter as of June 30, 2024 are as follows (in millions):
Years Ending December 31: | Finance Leases |  | Operating Leases
2024 (six months remaining) | $ | 82 |  | $ | 50
2025 | 159 |  | 97
2026 | 157 |  | 95
2027 | 151 |  | 93
2028 | 142 |  | 85
2029 and thereafter | 1,687 |  | 779
Total lease payments | 2,378 |  | 1,199
Less imputed interest | (1,015) |  | (469)
Total | $ | 1,363 |  | $ | 730
Lease, Cost | The components of lease expense are as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Finance lease cost: |  |  |  |  |  |  |
Amortization of ROU assets | $ | 24 |  |  | $ | 23 |  |  | $ | 48 |  |  | $ | 46 |
Interest on lease liabilities | 23 |  |  | 23 |  |  | 46 |  |  | 46 |
Operating lease cost | 29 |  |  | 29 |  |  | 58 |  |  | 57 |
Variable & short-term lease cost | 10 |  |  | 6 |  |  | 19 |  |  | 12 |
Sublease income | (7) |  |  | (3) |  |  | (11) |  |  | (5) |
Total lease cost | $ | 79 |  |  | $ | 78 |  |  | $ | 160 |  |  | $ | 156 |
Supplemental cash flow information related to leases is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liability |  |  |  |  |  |  |
Operating cash flows from finance leases | $ | 24 |  |  | $ | 23 |  |  | $ | 46 |  |  | $ | 45 |
Finance cash flows from finance leases | 18 |  |  | 15 |  |  | 32 |  |  | 25 |
Operating cash flows from operating leases | 27 |  |  | 24 |  |  | 50 |  |  | 48 |
ROU assets obtained in exchange for lease obligations (excluding the effect of acquisitions) |  |  |  |  |  |  |
Finance leases | $ | 22 |  |  | $ | — |  |  | $ | 37 |  |  | $ | 3 |
Operating leases | 8 |  |  | 55 |  |  | 12 |  |  | 73 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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