Leases

12 Months Ended

Dec. 31, 2024

Note 14. Leases

The components of lease expense included in Income (Loss) before Income Taxes for the years ended December 31, 2024, 2023 and 2022 are as follows:



(In millions)	2024			2023			2022
Operating Lease Expense	$	326		$	302		$	300
Finance Lease Expense:
Amortization of ROU assets		12			12			10
Interest on lease liabilities		21			20			20
Short Term Lease Expense		11			11			17
Variable Lease Expense		5			3			5
Sublease Income		(9	)		(10	)		(11	)
Total Lease Expense	$	366		$	338		$	341

Supplemental cash flow information related to leases for the years ended December 31, 2024, 2023 and 2022 is as follows:



(In millions)	2024		2023		2022
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating Cash Flows for Operating Leases	$	277	$	278	$	276
Operating Cash Flows for Finance Leases		21		20		20
Financing Cash Flows for Finance Leases		10		8		6
ROU Assets Obtained in Exchange for Lease Obligations
Operating Leases		223		218		250
Finance Leases		2		17		20

Supplemental balance sheet information related to leases as of December 31, 2024 and 2023 is as follows:



(In millions, except lease term and discount rate)	2024			2023
Operating Leases
Operating Lease ROU Assets	$	951		$	985

Operating Lease Liabilities due Within One Year	$	200		$	200
Operating Lease Liabilities		804			825
Total Operating Lease Liabilities	$	1,004		$	1,025

Finance Leases
Property, Plant and Equipment, at cost	$	285		$	288
Accumulated Depreciation		(89	)		(80	)
Property, Plant and Equipment, net	$	196		$	208

Long Term Debt and Finance Leases due Within One Year	$	10		$	10
Long Term Debt and Finance Leases		251			258
Total Finance Lease Liabilities	$	261		$	268


Weighted Average Remaining Lease Term (years)
Operating Leases	6.9		7.0
Finance Leases	27.1		27.3

Weighted Average Discount Rate
Operating Leases	7.45	%	7.24	%
Finance Leases	8.23	%	8.17	%

Future maturities of our lease liabilities, excluding subleases, as of December 31, 2024 are as follows:



(In millions)	Operating Leases		Finance Leases
2025	$	261	$	29
2026		223		29
2027		184		27
2028		138		26
2029		107		28
Thereafter		384		588
Total Lease Payments		1,297		727
Less: Imputed Interest		293		466
Total	$	1,004	$	261

As of December 31, 2024, we have additional operating and finance leases that have not yet commenced for which the present value of lease payments over the respective lease terms totals $159 million. Accordingly, these leases are not recorded on the Consolidated Balance Sheets at December 31, 2024. These leases will commence in 2025 with lease terms of 3 years to 30 years.