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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases  
Schedule of right-of-use assets and lease liabilities

    

December 31, 

2024

    

2023

(in millions)

Operating Leases:

  

  

Right-of-use assets (other assets)

$

527

$

526

Lease liabilities (accrued expenses and other liabilities)

 

530

 

531

Financing Leases:

 

 

Right-of-use assets (property, plant and equipment, net)

 

72

 

55

Lease liabilities (debt)

 

83

 

70

Schedule of operating lease term and discount rate

    

Right-Of-Use

    

Lease

    

    

Discount

 

Operating Leases as of December 31, 2024

Assets

Liabilities

Lease Term

Rate

 

(in millions)

Energy

$

75

$

71

5.4 years

7.9%

Automotive

 

409

 

421

    

5.4 years

    

5.9%

Food Packaging

 

19

 

22

 

9.1 years

 

7.4%

Other segments and Holding Company

 

24

 

16

 

  

 

  

$

527

$

530

    

Right-Of-Use

    

Lease

    

    

Discount

Operating Leases as of December 31, 2023

Assets

Liabilities

Lease Term

Rate

(in millions)

Energy

$

53

$

49

5.4 years

6.7%

Automotive

 

422

 

434

    

5.4 years

    

5.9%

Food Packaging

 

22

 

25

 

9.1 years

 

7.4%

Other segments and Holding Company

 

29

 

23

 

  

 

  

$

526

$

531

Operating and Finance Lease liability maturities

Operating

Financing

Year

    

Leases

    

Leases

(in millions)

2025

$

146

$

20

2026

 

134

 

18

2027

 

112

 

16

2028

 

73

 

14

2029

 

53

 

11

Thereafter

 

106

 

44

Total lease payments

 

624

 

123

Less: imputed interest

 

(94)

 

(40)

$

530

$

83