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Leases

12 Months Ended

Dec. 31, 2024

The components of lease expense were as follows:


	2024		2023		2022
Operating lease expense	$	67	$	63	$	59
Variable operating lease expense	17		26		27
Short term lease expense	4		3		3
Total lease expense	$	88	$	92	$	89

We have operating leases for certain rail cars, office spaces, warehouses and machinery and equipment. We currently have no finance leases. The following is a reconciliation of future undiscounted cash flows to the operating lease liabilities and the related operating lease assets as presented within Other non-current liabilities and Other non-current assets, on our Consolidated Balance Sheets as of December 31, 2024:


2025	$	64
2026	57
2027	40
2028	21
2029	12
Thereafter	26
Total future lease payments	220
Less: imputed interest	16
Present value of future lease payments	204
Less: current lease liabilities	59
Non-current operating lease liabilities	$	145
Operating lease assets	$	199

Supplemental cash flow information arising from lease transactions is as follows:


	Year Ended December 31,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	68	$	64
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	55	$	72


	Year Ended December 31,
	2024		2023
Lease term and discount rate
Weighted average remaining lease term	4.8 years		5.3 years
Weighted average discount rate	4.6	%	4.6	%