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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Schedule of Components of Leases | Components of leases are as follows (in millions):
|  | December 31, |
|  | 2022 |  |  | 2021 |
Current portion of lease liabilities: |  |  |  |  |  |
Operating |  | $ | 67 |  |  | $ | 76 |
Financing |  |  | 20 |  |  |  | 23 |
Total |  | $ | 87 |  |  | $ | 99 |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Long-term portion of lease liability: |  |  |  |  |  |
Operating |  | $ | 334 |  |  | $ | 357 |
Financing |  |  | 215 |  |  |  | 219 |
Total |  | $ | 549 |  |  | $ | 576 |
Components of Lease Expense | Components of lease expense were as follows (in millions):
|  | Year Ended |
|  | December 31, 2022 |  |  | December 31, 2021 |
Lease cost |  |  |  |  |  |
Finance lease cost |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 24 |  |  | $ | 26 |
Interest on lease liabilities |  |  | 9 |  |  |  | 10 |
Operating lease cost |  |  | 73 |  |  |  | 83 |
Short-term lease cost |  |  | 90 |  |  |  | 74 |
Sub-lease income |  |  | (8 | ) |  |  | (9 | )
Total |  | $ | 188 |  |  | $ | 184 |
Schedule of Supplemental information Related to Leases | Supplemental information related to the Company’s leases is as follows (in millions):
|  | Years Ended |
|  | December 31, 2022 |  |  | December 31, 2021 |
Other information: |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows - finance leases |  | $ | 9 |  |  | $ | 10 |
Operating cash flows - operating leases |  |  | 73 |  |  |  | 83 |
Financing cash flows - finance leases |  |  | 24 |  |  |  | 26 |
Right-of-use assets obtained in exchange for new: |  |  |  |  |  |
Operating lease liabilities |  | $ | 57 |  |  | $ | 37 |
Finance lease liabilities |  |  | 19 |  |  |  | 9 |
Weighted average remaining lease term at December 31, 2022: |  |  |  |  |  |
Operating leases |  | 10 years |  |  | 11 years |
Finance leases |  | 17 years |  |  | 18 years |
Weighted average discount rate at December 31, 2022: |  |  |  |  |  |
Operating leases |  |  | 4.74 | % |  |  | 4.74 | %
Finance leases |  |  | 3.95 | % |  |  | 3.86 | %
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, 2022, are payable as follows (in millions):
|  | Operating |  |  | Finance |
2023 |  | $ | 85 |  |  | $ | 30 |
2024 |  |  | 72 |  |  |  | 27 |
2025 |  |  | 60 |  |  |  | 24 |
2026 |  |  | 49 |  |  |  | 20 |
2027 |  |  | 39 |  |  |  | 17 |
Thereafter |  |  | 197 |  |  |  | 200 |
Total lease payments |  |  | 502 |  |  |  | 318 |
Less: Interest |  |  | (101 | ) |  |  | (83 | )
Present value of lease liabilities |  | $ | 401 |  |  | $ | 235 |

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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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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