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v3.22.2.2

LEASES | 12 Months Ended
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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 |  | 198 |  |  | 176 |
Total right-of-use assets |  |  |  | $ | 200 |  |  | $ | 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 |  | 149 |  |  | 130 |
Total lease liabilities |  |  |  | $ | 201 |  |  | $ | 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 |  |  | $ | 58 |  |  | $ | 59 |
2023 |  | 1 |  |  | 46 |  |  | 47 |
2024 |  | — |  |  | 36 |  |  | 36 |
2025 |  | — |  |  | 24 |  |  | 24 |
2026 |  | — |  |  | 18 |  |  | 18 |
2027 and beyond |  | — |  |  | 38 |  |  | 38 |
Total lease payments |  | $ | 2 |  |  | $ | 220 |  |  | $ | 222 |
Less imputed interest |  | — |  |  | 21 |  |  | 21 |
Present value of lease liabilities |  | $ | 2 |  |  | $ | 199 |  |  | $ | 201 |
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 |  | 198 |  |  | 176 |
Total right-of-use assets |  |  |  | $ | 200 |  |  | $ | 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 |  | 149 |  |  | 130 |
Total lease liabilities |  |  |  | $ | 201 |  |  | $ | 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 |  |  | $ | 58 |  |  | $ | 59 |
2023 |  | 1 |  |  | 46 |  |  | 47 |
2024 |  | — |  |  | 36 |  |  | 36 |
2025 |  | — |  |  | 24 |  |  | 24 |
2026 |  | — |  |  | 18 |  |  | 18 |
2027 and beyond |  | — |  |  | 38 |  |  | 38 |
Total lease payments |  | $ | 2 |  |  | $ | 220 |  |  | $ | 222 |
Less imputed interest |  | — |  |  | 21 |  |  | 21 |
Present value of lease liabilities |  | $ | 2 |  |  | $ | 199 |  |  | $ | 201 |
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 |

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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 + Details
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- 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 + Details
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