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Leases

3 Months Ended

Mar. 31, 2023

Note 5. Leases

We have operating leases primarily for our corporate offices, customer service centers and engineering and technology campuses. Our leases have remaining lease terms ranging from less than one year to 12 years, some of which include options to extend the leases for up to five years.

The weighted-average remaining lease term and weighted-average discount rate related to our operating leases are as follows:



	As of
	March 31,		December 31,
	2023		2022
Weighted-average remaining lease term (years)	9		9
Weighted-average discount rate	6.3	%	6.3	%

We recognized operating lease expense of $1 million for each of the three months ended March 31, 2023 and 2022. These expenses are included in selling and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income.

Supplemental balance sheet information related to our operating lease liabilities is as follows:



	As of
	March 31,		December 31,
(In millions)	2023		2022
Other accrued liabilities	$	3	$	3
Operating lease liabilities		17		18
Total operating lease liabilities	$	20	$	21

Supplemental cash flow information related to our operating leases is as follows:

The following table presents the maturities of our operating lease liabilities as of March 31, 2023:



(In millions)
2023 (remainder)⁽¹⁾	$	3
2024⁽¹⁾		2
2025⁽¹⁾		2
2026⁽¹⁾		2
2027		3
2028		2
Thereafter		10
Total future minimum lease payments		23
Less imputed interest		(6)
Total	$	17

_____________________________

(1)Amount is presented net of future sublease income totaling $4 million, which relates to the remainder of the year ending December 31, 2023 and the years ending December 31, 2024 through December 31, 2026.

Three Months Ended

(In millions)

Cash paid on operating lease liabilities