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Leases (Tables) | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Schedule of Components of Leases | Components of leases are as follows (in millions):
|  | December 31, |
|  | 2021 |  |  | 2020 |
Current portion of lease liabilities: |  |  |  |  |  |  |  |
Operating |  | $ | 76 |  |  | $ | 82 |
Financing |  |  | 23 |  |  |  | 28 |
Total |  | $ | 99 |  |  | $ | 110 |
|  | December 31, |
|  | 2021 |  |  | 2020 |
Long-term portion of lease liability: |  |  |  |  |  |  |  |
Operating |  | $ | 357 |  |  | $ | 376 |
Financing |  |  | 219 |  |  |  | 236 |
Total |  | $ | 576 |  |  | $ | 612 |
Components of Lease Expense | Components of lease expense were as follows (in millions):
|  | Years Ended |
|  | December 31, 2021 |  |  | December 31, 2020 |
Lease cost |  |  |  |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 26 |  |  | $ | 31 |
Interest on lease liabilities |  |  | 10 |  |  |  | 11 |
Operating lease cost |  |  | 83 |  |  |  | 96 |
Short-term lease cost |  |  | 74 |  |  |  | 64 |
Sub-lease income |  |  | (9 | ) |  |  | (10 | )
Total |  | $ | 184 |  |  | $ | 192 |
Schedule of Supplemental information Related to Leases | Supplemental information related to the Company’s leases is as follows (in millions):
|  | Years Ended |
|  | December 31, 2021 |  |  | December 31, 2020 |
Other information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows - finance leases |  | $ | 10 |  |  | $ | 11 |
Operating cash flows - operating leases |  |  | 83 |  |  |  | 96 |
Financing cash flows - finance leases |  |  | 26 |  |  |  | 31 |
Right-of-use assets obtained in exchange for new: |  |  |  |  |  |  |  |
Operating lease liabilities |  |  | 37 |  |  |  | 47 |
Finance lease liabilities |  | $ | 9 |  |  | $ | 16 |
Weighted average remaining lease term at December 31, 2021: |  |  |  |  |  |  |  |
Operating leases |  | 11 years |  |  | 11 years |
Finance leases |  | 18 years |  |  | 18 years |
Weighted average discount rate at December 31, 2021: |  |  |  |  |  |  |  |
Operating leases |  |  | 4.74 | % |  |  | 4.93 | %
Finance leases |  |  | 3.86 | % |  |  | 3.92 | %
Future Minimum Lease Commitments for Leases with Initial or Remaining Terms of One Year or More | Future minimum lease commitments for leases with initial or remaining terms of one year or more at December 31, 2021, are payable as follows (in millions):
|  | Operating |  |  | Finance |
2022 |  | $ | 91 |  |  | $ | 32 |
2023 |  |  | 76 |  |  |  | 25 |
2024 |  |  | 65 |  |  |  | 21 |
2025 |  |  | 54 |  |  |  | 19 |
2026 |  |  | 43 |  |  |  | 17 |
Thereafter |  |  | 219 |  |  |  | 214 |
Total lease payments |  |  | 548 |  |  |  | 328 |
Less: Interest |  |  | (115 | ) |  |  | (86 | )
Present value of lease liabilities |  | $ | 433 |  |  | $ | 242 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph (a) -Subparagraph (5) + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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