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LEASE OBLIGATIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Summary of Lease Costs | Lease costs are presented below:
| Year Ended December 31,
(In millions) | 2023 |  | 2022 |  |
Operating leases | $ | 59 |  |  | $ | 64 |  |  |
Finance leases: |  |  |  |  |
Amortization of right-of-use assets | 92 |  |  | 103 |  |  |
Interest on lease liabilities | 11 |  |  | 8 |  |  |
Short-term leases | 171 |  |  | 160 |  |  |
Total | $ | 333 |  |  | $ | 335 |  |  |
Lease terms and discount rates are shown below:
| December 31,
(In millions) | 2023
Weighted average lease term (in years): |
Operating leases | 8
Finance leases | 7
Weighted average discount rate: |
Operating leases | 8 | %
Finance leases | 6 | %
Other information related to leases was as follows:
| Year Ended December 31,
(In millions) | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |
Operating leases within cash flows from operating activities | $ | 57 |  | $ | 62 |  | $ | 70
Finance leases within cash flows from operating activities | 11 |  | 8 |  | 9
Finance leases within cash flows from financing activities | 92 |  | 96 |  | 94
Right-of-use assets obtained in exchange for new finance lease liabilities | 93 |  | 55 |  | 50
Summary of Future Minimum Lease Payments under Noncancelable Finance and Operating Leases | Future minimum lease payments under noncancellable finance and operating leases as of December 31, 2023 were as follows:
(In millions) | Finance Leases |  | Operating Leases
2024 | $ | 53 |  |  | $ | 56 |
2025 | 49 |  |  | 49 |
2026 | 39 |  |  | 42 |
2027 | 27 |  |  | 38 |
2028 | 25 |  |  | 29 |
Thereafter | 74 |  |  | 117 |
Total future minimum lease payments | 267 |  |  | 331 |
Less: imputed interest | 52 |  |  | 93 |
Total lease payments | 215 |  |  | 238 |
Less: current portion of lease liabilities | 49 |  |  | 41 |
Long-term lease liabilities | $ | 166 |  |  | $ | 197 |

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- Definition Lessee, Operating and Finance Lease, Liability, Maturity + References No definition available. + Details
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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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- References No definition available. + Details
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