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Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases, Operating [Abstract] |
Leases | Leases The following summarizes lease expense:
| Year Ended December 31,
Lease Expense / (Sublease Income) | 2023 |  | 2022 |  | 2021
(in millions) |  |  |  |  |
Operating lease cost | $ | 76 |  |  | $ | 75 |  |  | $ | 76 |
Finance lease cost |  |  |  |  |
Amortization of right-of-use assets | 6 |  |  | 5 |  |  | 5 |
Variable lease cost (1) | 11 |  |  | 11 |  |  | 10 |
Short-term lease cost | 117 |  |  | 128 |  |  | 136 |
Sublease income | (2) |  |  | (2) |  |  | (2) |
Total lease expense (2) | $ | 208 |  |  | $ | 217 |  |  | $ | 225 |
(1)Primarily relates to rent escalation due to cost of living indexation and payments for property taxes, insurance or common area maintenance based on actual assessments. (2)Lease expense is included in Cost of revenue and G&A. Information related to our right-of use assets and lease liabilities follows:
|  | December 31,
Lease Assets / Liabilities | Balance Sheet Classification | 2023 |  | 2022 |
(in millions) |  |  |  |  |
Right-of-use assets |  |  |  |  |
Operating lease assets | Other assets | $ | 126 |  |  | $ | 142 |  |
Finance lease assets | Other assets | — |  |  | 6 |  |
Total right-of-use assets |  | $ | 126 |  |  | $ | 148 |  |
Lease liabilities |  |  |  |  |
Operating lease liabilities, current | Other accrued liabilities | $ | 41 |  |  | $ | 62 |  |
Operating lease liabilities, noncurrent | Noncurrent liabilities | 100 |  |  | 96 |  |
Finance lease liabilities, current | Other accrued liabilities | — |  |  | 6 |  |
Finance lease liabilities, noncurrent | Noncurrent liabilities | — |  |  | 7 |  |
Total lease liabilities |  | $ | 141 |  |  | $ | 171 |  |
Supplemental information related to our leases follows:
| Year Ended December 31,
| 2023 |  | 2022
(in millions) |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 42 |  |  | $ | 77
Financing cash flows from finance leases | 1 |  |  | 7
Right-of-use assets obtained in exchange for new operating lease liabilities | 58 |  |  | 57
Right-of-use assets obtained in exchange for new finance lease liabilities | — |  |  | 1
Weighted-average remaining lease term - operating leases | 7.0 years |  | 4.8 years
Weighted-average remaining lease term - finance leases | 0.0 years |  | 3.9 years
Weighted-average discount rate - operating leases | 5.4 | % |  | 3.5 | %
Weighted-average discount rate - finance leases | — | % |  | 2.1 | %
The remaining lease payments under our operating leases follows:
Year Ended December 31, | Operating Leases |  |
(in millions) |  |  |
2024 | $ | 46 |  |  |
2025 | 17 |  |  |
2026 | 9 |  |  |
2027 | 22 |  |  |
2028 | 13 |  |  |
Thereafter | 78 |  |  |
Total lease payments | $ | 185 |  |  |
Less: Interest | (44) |  |  |
Present value of lease liabilities | $ | 141 |  |  |
None of our lease agreements contain material residual value guarantees or material restrictions or covenants.
Leases | Leases The following summarizes lease expense:
| Year Ended December 31,
Lease Expense / (Sublease Income) | 2023 |  | 2022 |  | 2021
(in millions) |  |  |  |  |
Operating lease cost | $ | 76 |  |  | $ | 75 |  |  | $ | 76 |
Finance lease cost |  |  |  |  |
Amortization of right-of-use assets | 6 |  |  | 5 |  |  | 5 |
Variable lease cost (1) | 11 |  |  | 11 |  |  | 10 |
Short-term lease cost | 117 |  |  | 128 |  |  | 136 |
Sublease income | (2) |  |  | (2) |  |  | (2) |
Total lease expense (2) | $ | 208 |  |  | $ | 217 |  |  | $ | 225 |
(1)Primarily relates to rent escalation due to cost of living indexation and payments for property taxes, insurance or common area maintenance based on actual assessments. (2)Lease expense is included in Cost of revenue and G&A. Information related to our right-of use assets and lease liabilities follows:
|  | December 31,
Lease Assets / Liabilities | Balance Sheet Classification | 2023 |  | 2022 |
(in millions) |  |  |  |  |
Right-of-use assets |  |  |  |  |
Operating lease assets | Other assets | $ | 126 |  |  | $ | 142 |  |
Finance lease assets | Other assets | — |  |  | 6 |  |
Total right-of-use assets |  | $ | 126 |  |  | $ | 148 |  |
Lease liabilities |  |  |  |  |
Operating lease liabilities, current | Other accrued liabilities | $ | 41 |  |  | $ | 62 |  |
Operating lease liabilities, noncurrent | Noncurrent liabilities | 100 |  |  | 96 |  |
Finance lease liabilities, current | Other accrued liabilities | — |  |  | 6 |  |
Finance lease liabilities, noncurrent | Noncurrent liabilities | — |  |  | 7 |  |
Total lease liabilities |  | $ | 141 |  |  | $ | 171 |  |
Supplemental information related to our leases follows:
| Year Ended December 31,
| 2023 |  | 2022
(in millions) |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 42 |  |  | $ | 77
Financing cash flows from finance leases | 1 |  |  | 7
Right-of-use assets obtained in exchange for new operating lease liabilities | 58 |  |  | 57
Right-of-use assets obtained in exchange for new finance lease liabilities | — |  |  | 1
Weighted-average remaining lease term - operating leases | 7.0 years |  | 4.8 years
Weighted-average remaining lease term - finance leases | 0.0 years |  | 3.9 years
Weighted-average discount rate - operating leases | 5.4 | % |  | 3.5 | %
Weighted-average discount rate - finance leases | — | % |  | 2.1 | %
The remaining lease payments under our operating leases follows:
Year Ended December 31, | Operating Leases |  |
(in millions) |  |  |
2024 | $ | 46 |  |  |
2025 | 17 |  |  |
2026 | 9 |  |  |
2027 | 22 |  |  |
2028 | 13 |  |  |
Thereafter | 78 |  |  |
Total lease payments | $ | 185 |  |  |
Less: Interest | (44) |  |  |
Present value of lease liabilities | $ | 141 |  |  |
None of our lease agreements contain material residual value guarantees or material restrictions or covenants.

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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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