XML 66 R45.htm IDEA: XBRL DOCUMENT v3.22.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Summary of Lease Assets and Liabilities

Lease assets and liabilities are summarized as follows:

 

 

December 31.

 

 

 

 

(in millions)

 

2021

 

2020

 

 

Classification

 

Assets

 

 

 

 

 

 

 

 

 

 

Operating lease assets

 

$

249

 

$

266

 

 

Operating lease assets

 

Finance lease assets

 

 

2

 

 

4

 

 

Other assets

 

Total lease assets

 

$

251

 

$

270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

$

274

 

$

296

 

 

Operating lease liabilities

 

Finance lease liabilities

 

 

3

 

 

4

 

 

Notes and contracts payable

 

Total lease liabilities

 

$

277

 

$

300

 

 

 

 
Summary of Components of Lease Expense

The components of lease expense are summarized as follows:

 

Year ended December 31.

 

 

 

 

(in millions)

2021

 

2020

 

2019

 

 

Classification

 

Operating lease cost

$

86

 

$

89

 

$

88

 

 

Other operating expenses

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of lease assets

 

2

 

 

2

 

 

2

 

 

Depreciation and amortization

 

Variable lease cost

 

31

 

 

32

 

 

31

 

 

Other operating expenses

 

Short-term lease cost

 

2

 

 

1

 

 

1

 

 

Other operating expenses

 

Sublease income

 

(3

)

 

(3

)

 

(2

)

 

Information and other

 

Net lease cost

$

118

 

$

121

 

$

120

 

 

 

 
Schedule of Future Minimum Lease Payments Under Operating and Finance Lease with Noncancelable Lease Terms

Future minimum lease payments under operating and finance leases with noncancelable lease terms, as of December 31, 2021, are summarized as follows:

(in millions)

 

Operating Leases

 

 

 

Finance Leases

 

 

 

Total

 

2022

$

88

 

 

$

2

 

 

$

90

 

2023

 

68

 

 

 

1

 

 

 

69

 

2024

 

52

 

 

 

—

 

 

 

52

 

2025

 

38

 

 

 

—

 

 

 

38

 

2026

 

25

 

 

 

—

 

 

 

25

 

Thereafter

 

24

 

 

 

—

 

 

 

24

 

Total lease payments

 

295

 

 

 

3

 

 

 

298

 

Interest

 

(21

)

 

 

—

 

 

 

(21

)

Present value of lease liabilities

$

274

 

 

$

3

 

 

$

277

 
Schedule of Information Related to Lease Terms and Discount Rate

Information related to lease terms and discount rates is summarized as follows:

 

 

December 31,

 

 

 

2021

 

 

2020

 

Weighted-average remaining lease terms (years):

 

 

 

 

 

 

Operating leases

 

4

 

 

5

 

Finance leases

 

2

 

 

3

 

Weighted-average discount rates:

 

 

 

 

 

 

Operating leases

 

3.40

%

 

3.80

%

Finance leases

 

3.96

%

 

4.03

%
Schedule of Cash Flow Information Related to Lease Liabilities

Cash flow information related to lease liabilities is summarized as follows:

 

Year ended December 31,

 

(in millions)

2021

 

 

2020

 

 

2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

$

90

 

$

93

 

$

88

 

Financing cash flows from finance leases

$

2

 

$

2

 

$

2

 

Operating lease assets obtained in exchange for new operating lease liabilities

$

59

 

$

54

 

$

55

 

Finance lease assets obtained in exchange for new finance lease liabilities

$

—

 

$

1

 

$

1