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Leases | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Leases | NOTE 7. Leases: Lease assets and liabilities are summarized as follows:
|  | December 31. |  |  |
(in millions) |  | 2022 |  |  | 2021 |  |  | Classification
Assets |  |  |  |  |  |  |  |
Operating lease assets |  | $ | 248 |  |  | $ | 249 |  |  | Operating lease assets
Finance lease assets |  |  | 3 |  |  |  | 2 |  |  | Other assets
Total lease assets |  | $ | 251 |  |  | $ | 251 |  |  |
Liabilities |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | 269 |  |  | $ | 274 |  |  | Operating lease liabilities
Finance lease liabilities |  |  | 3 |  |  |  | 3 |  |  | Notes and contracts payable
Total lease liabilities |  | $ | 272 |  |  | $ | 277 |  |  |
The components of lease expense are summarized as follows:
|  | Year ended December 31. |  |  |
(in millions) |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Classification
Operating lease cost |  | $ | 93 |  |  | $ | 86 |  |  | $ | 89 |  |  | Other operating expenses
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |
Amortization of lease assets |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  | Depreciation and amortization
Variable lease cost |  |  | 34 |  |  |  | 31 |  |  |  | 32 |  |  | Other operating expenses
Short-term lease cost |  |  | 3 |  |  |  | 2 |  |  |  | 1 |  |  | Other operating expenses
Sublease income |  |  | (1 | ) |  |  | (3 | ) |  |  | (3 | ) |  | Information and other
Net lease cost |  | $ | 131 |  |  | $ | 118 |  |  | $ | 121 |  |  |
Future minimum lease payments under operating and finance leases with noncancelable lease terms, as of December 31, 2022, are summarized as follows:
(in millions) |  | Operating Leases |  |  | Finance Leases |  |  | Total |
2023 |  | $ | 86 |  |  | $ | 1 |  |  | $ | 87 |
2024 |  |  | 71 |  |  |  | 1 |  |  |  | 72 |
2025 |  |  | 55 |  |  |  | 1 |  |  |  | 56 |
2026 |  |  | 38 |  |  |  | — |  |  |  | 38 |
2027 |  |  | 21 |  |  |  | — |  |  |  | 21 |
Thereafter |  |  | 17 |  |  |  | — |  |  |  | 17 |
Total lease payments |  |  | 288 |  |  |  | 3 |  |  |  | 291 |
Interest |  |  | (19 | ) |  |  | — |  |  |  | (19 | )
Present value of lease liabilities |  | $ | 269 |  |  | $ | 3 |  |  | $ | 272 |
Information related to lease terms and discount rates is summarized as follows:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Weighted-average remaining lease terms (years): |  |  |  |  |  |
Operating leases |  |  | 4 |  |  |  | 4 |
Finance leases |  |  | 2 |  |  |  | 2 |
Weighted-average discount rates: |  |  |  |  |  |
Operating leases |  |  | 3.34 | % |  |  | 3.40 | %
Finance leases |  |  | 3.23 | % |  |  | 3.96 | %
Cash flow information related to lease liabilities is summarized as follows:
|  | Year ended December 31, |
(in millions) |  | 2022 |  |  | 2021 |  |  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 96 |  |  | $ | 90 |  |  | $ | 93 |
Financing cash flows from finance leases |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |
Operating lease assets obtained in exchange for new operating lease liabilities |  | $ | 66 |  |  | $ | 59 |  |  | $ | 54 |
Finance lease assets obtained in exchange for new finance lease liabilities |  | $ | 3 |  |  | $ | — |  |  | $ | 1 |

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- Definition The entire disclosure for operating and finance leases for lessee. + References No definition available. + Details
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- References No definition available. + Details
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