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LEASES

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

LEASES

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:

												Year Ended December 31,
(in millions, except percentages)						Location in the Consolidated Balance Sheets						2021						2020
Assets
Finance leases						Property, plant, and equipment, net						$	2					$	1
Operating leases						Operating lease right-of-use assets, net						193						176
Total right-of-use assets												$	195					$	177
Liabilities
Current liabilities
Finance leases						Notes payable and current portion of long-term debt						$	1					$	—
Operating leases						Accrued liabilities						50						48
Noncurrent liabilities
Finance leases						Long-term debt						1						1
Operating leases						Operating lease liabilities						145						130
Total lease liabilities												$	197					$	179
Supplemental information:
Weighted-average discount rate
Finance leases												3.2		%				3.7		%
Operating leases												3.3		%				3.0		%
Weighted-average remaining lease term in years
Finance leases												4.3						6.5
Operating leases												5.3						5.2

The lease cost recognized in the Consolidated Statements of Operations for the year ended December 31, 2021 and 2020 were as follows:

(in millions)									2021						2020
Operating lease cost									$	67					$	57
Short-term lease cost									1						1
Variable lease cost									10						9
Total lease cost									$	78					$	67

The contractual maturity dates of the remaining lease liabilities for the year ended December 31, 2021 were as follows:

(in millions)						Finance Leases						Operating Leases						Total
2022						$	1					$	57					$	58
2023						1						46						47
2024						—						35						35
2025						—						24						24
2026						—						17						17
2027 and beyond						—						36						36
Total lease payments						$	2					$	215					$	217
Less imputed interest						—						20						20
Present value of lease liabilities						$	2					$	195					$	197

The supplemental cash flow information for the year ended December 31, 2021 and 2020 were as follows:

(in millions)						2021						2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases						$	65					$	56
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases						$	1					$	—
Operating leases						79						43

Leases

LEASES

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:

												Year Ended December 31,
(in millions, except percentages)						Location in the Consolidated Balance Sheets						2021						2020
Assets
Finance leases						Property, plant, and equipment, net						$	2					$	1
Operating leases						Operating lease right-of-use assets, net						193						176
Total right-of-use assets												$	195					$	177
Liabilities
Current liabilities
Finance leases						Notes payable and current portion of long-term debt						$	1					$	—
Operating leases						Accrued liabilities						50						48
Noncurrent liabilities
Finance leases						Long-term debt						1						1
Operating leases						Operating lease liabilities						145						130
Total lease liabilities												$	197					$	179
Supplemental information:
Weighted-average discount rate
Finance leases												3.2		%				3.7		%
Operating leases												3.3		%				3.0		%
Weighted-average remaining lease term in years
Finance leases												4.3						6.5
Operating leases												5.3						5.2

The lease cost recognized in the Consolidated Statements of Operations for the year ended December 31, 2021 and 2020 were as follows:

(in millions)									2021						2020
Operating lease cost									$	67					$	57
Short-term lease cost									1						1
Variable lease cost									10						9
Total lease cost									$	78					$	67

The contractual maturity dates of the remaining lease liabilities for the year ended December 31, 2021 were as follows:

(in millions)						Finance Leases						Operating Leases						Total
2022						$	1					$	57					$	58
2023						1						46						47
2024						—						35						35
2025						—						24						24
2026						—						17						17
2027 and beyond						—						36						36
Total lease payments						$	2					$	215					$	217
Less imputed interest						—						20						20
Present value of lease liabilities						$	2					$	195					$	197

The supplemental cash flow information for the year ended December 31, 2021 and 2020 were as follows:

(in millions)						2021						2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases						$	65					$	56
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases						$	1					$	—
Operating leases						79						43

X

- References

No definition available.

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- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

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X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

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