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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Components of Leases

Components of leases are as follows (in millions):

		December 31,
		2023				2022
Current portion of lease liabilities:
Operating		$	70			$	67
Financing			24				20
Total		$	94			$	87
		December 31,
		2023				2022
Long-term portion of lease liability:
Operating		$	343			$	334
Financing			215				215
Total		$	558			$	549

Components of Lease Expense

Components of lease expense were as follows (in millions):

		Year Ended
		December 31, 2023				December 31, 2022
Lease cost
Finance lease cost
Amortization of right-of-use assets		$	23			$	24
Interest on lease liabilities			10				9
Operating lease cost			85				73
Short-term lease cost			77				90
Sub-lease income			(8	)			(8	)
Total		$	187			$	188

Schedule of Supplemental information Related to Leases

Supplemental information related to the Company’s leases is as follows (in millions):

		Years Ended
		December 31, 2023				December 31, 2022
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases		$	10			$	9
Operating cash flows - operating leases			85				73
Financing cash flows - finance leases			23				24
Right-of-use assets obtained in exchange for new:
Operating lease liabilities		$	68			$	57
Finance lease liabilities			27				19
Weighted average remaining lease term at December 31, 2023:
Operating leases		10 years				10 years
Finance leases		16 years				17 years
Weighted average discount rate at December 31, 2023:
Operating leases			5.17	%			4.74	%
Finance leases			4.15	%			3.95	%

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, 2023, are payable as follows (in millions):

		Operating				Finance
2024		$	97			$	34
2025			82				31
2026			69				27
2027			56				21
2028			47				17
Thereafter			237				185
Total lease payments			588				315
Less: Interest			(175	)			(76	)
Present value of lease liabilities		$	413			$	239

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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
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (S-X 210.12-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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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

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