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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of leases | The amounts recorded on the Consolidated Balance Sheets as of December 31, 2024 and 2023 related to our lease agreements are as follows (in millions):
|  |  |  | December 31,
Leases |  | Classification |  | 2024 |  | 2023
Assets |  |  |  |  |  |
Operating lease ROU assets, net |  | Operating lease assets, net |  | $ | 1,388 |  |  | $ | 1,336 |
Finance lease assets, net |  | Property, plant and equipment, net |  | 96 |  |  | 80 |
Total leased assets |  |  |  | $ | 1,484 |  |  | $ | 1,416 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Current portion of operating lease liabilities |  | $ | 237 |  |  | $ | 224 |
Finance |  | Current portion of long-term obligations |  | 28 |  |  | 26 |
Noncurrent |  |  |  |  |  |
Operating |  | Long-term operating lease liabilities, excluding current portion |  | 1,207 |  |  | 1,163 |
Finance |  | Long-term obligations, excluding current portion |  | 72 |  |  | 57 |
Total lease liabilities |  |  |  | $ | 1,544 |  |  | $ | 1,470 |
Lease, Cost | The components of lease expense are as follows (in millions):
|  | Year Ended December 31,
Lease Cost |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 350 |  |  | $ | 305 |  |  | $ | 282 |
Short-term lease cost |  | 19 |  |  | 20 |  |  | 16 |
Variable lease cost |  | 135 |  |  | 113 |  |  | 96 |
Finance lease cost |  |  |  |  |  |
Amortization of leased assets |  | 25 |  |  | 19 |  |  | 12 |
Interest on lease liabilities |  | 5 |  |  | 4 |  |  | 2 |
Sublease income |  | (5) |  |  | (6) |  |  | (5) |
Net lease cost |  | $ | 529 |  |  | $ | 455 |  |  | $ | 403 |
Schedule of Maturing of Lease Liabilities | The future lease commitments under our leases at December 31, 2024 are as follows (in millions):
Years Ending December 31, | Operating leases |  | Finance leases (1) |  | Total
2025 | $ | 333 |  |  | $ | 33 |  |  | $ | 366 |
2026 | 298 |  |  | 27 |  |  | 325 |
2027 | 253 |  |  | 19 |  |  | 272 |
2028 | 207 |  |  | 12 |  |  | 219 |
2029 | 160 |  |  | 6 |  |  | 166 |
Thereafter | 587 |  |  | 27 |  |  | 614 |
Future lease payments | 1,838 |  |  | 124 |  |  | 1,962 |
Less: Interest | 394 |  |  | 24 |  |  | 418 |
Present value of lease liabilities | $ | 1,444 |  |  | $ | 100 |  |  | $ | 1,544 |
(1) Amounts are included in the scheduled maturities of long-term obligations in Note 18, "Long-Term Obligations".
Schedule of Lease Term, Discount Rate, and Supplemental Cash Flow Information | Other information related to leases is as follows:
|  | December 31,
Lease Term and Discount Rate |  | 2024 |  | 2023
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 7.7 |  | 8.2
Finance leases |  | 7.2 |  | 6.7
Weighted-average discount rate |  |  |  |
Operating leases |  | 5.92 | % |  | 6.00 | %
Finance leases |  | 5.06 | % |  | 4.83 | %
|  | Year Ended December 31,
Supplemental cash flows information (in millions) |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash outflows from operating leases |  | $ | 328 |  |  | $ | 299 |  |  | $ | 284 |
Financing cash outflows from finance leases |  | 28 |  |  | 19 |  |  | 14 |
Leased assets obtained in exchange for finance lease liabilities |  | 49 |  |  | 49 |  |  | 15 |
Leased assets obtained in exchange for operating lease liabilities |  | 384 |  |  | 310 |  |  | 159 |

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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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