XML 43 R16.htm IDEA: XBRL DOCUMENT

Note 6 - Leases

12 Months Ended

Dec. 31, 2024

Lessee, Finance Leases and Operating Leases [Text Block]

Note 6. Leases

Our leases generally have remaining lease terms of one year to twenty years, some of which include options to extend the leases for up to forty years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet. Short-term lease costs were insignificant as of December 31, 2024, 2023, and 2022.

	Classification	2024		2023
Finance lease right-of-use assets	Property, plant and equipment, net	$	97	$	55
Finance lease liabilities	Current portion of long-term debt		14		7
Finance lease liabilities	Long-term debt		79		42

Components of lease expense —

	2024		2023		2022
Operating lease cost	$	67	$	65	$	58
Finance lease cost:
Amortization of right-of-use assets	$	11	$	8	$	9
Interest on lease liabilities		3		2		2
Total finance lease cost	$	14	$	10	$	11

Supplemental cash flow information related to leases —

	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	66	$	62	$	60
Operating cash flows from finance leases		3		2		2
Financing cash flows from finance leases		10		8		9
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	29	$	61	$	111
Finance leases		58		5		6

Supplemental balance sheet information related to leases —

	2024			2023
Weighted-average remaining lease term (years):
Operating leases		9			10
Finance leases		8			12
Weighted-average discount rate:
Operating leases		7.4	%		7.2	%
Finance leases		6.5	%		5.1	%

Maturities —

	Operating Leases		Finance Leases
2025	$	64	$	20
2026		57		19
2027		49		19
2028		40		14
2029		34		11
Thereafter		182		37
Total lease payments		426		120
Less: interest		124		27
Present value of lease liabilities	$	302	$	93

Finance lease payments presented in the table above exclude approximately $52 of undiscounted minimum lease payments for non-cancellable equipment leases with various banks signed in 2024 but commencing in 2025. These leases generally have lease terms of five years.