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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Supplemental Balance Sheet Information

Supplemental balance sheet information is as follows (in millions):

			December 31,
	Classification		2023				2022
Assets
Operating	Other assets		$	40			$	36
Finance	Property, plant and equipment, net			21				10
Total ROU assets			$	61			$	46
Liabilities
Current
Operating	Accrued liabilities		$	11			$	13
Finance	Other current liabilities			7				4
Long-term
Operating	Long-term operating lease liabilities			30				25
Finance	Other long-term liabilities			15				7
Total lease liabilities			$	63			$	49

Components of Lease Expense

Components of lease expense is as follows (in millions):

			Year Ended December 31,
	Classification		2023				2022				2021
Operating lease cost (1)	Warehousing, selling and administrative		$	18			$	16			$	22
Finance lease ROU asset depreciation (2)	Warehousing, selling and administrative			6				4				5
Short-term lease cost	Warehousing, selling and administrative			6				5				5
Variable lease cost	Warehousing, selling and administrative			3				3				2
Sublease income	Warehousing, selling and administrative			(3	)			(2	)			(2	)

(1)Included in other, net adjustment to reconcile net income to net cash provided by (used in) operating activities in the consolidated statement of cash flows.

(2)Included in depreciation and amortization in the consolidated statement of cash flows. Interest on finance lease liabilities is $1 million.

Supplemental Cash Flow Information

Supplemental disclosure of cash flow information is as follows (in millions):

		Year Ended December 31,
		2023				2022				2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	18			$	21			$	23
Financing cash flows from finance leases (1)			7				5				6
ROU assets obtained in exchange for new lease liabilities
Operating		$	18			$	25			$	12
Finance			17				9				—

(1) Interest payments from finance lease liabilities is $1 million.

Maturity of Lease Liabilities

Maturity of lease liabilities as of December 31, 2023 were as follows (in millions):

		Operating Lease				Finance Lease
2024		$	14			$	8
2025			10				8
2026			8				6
2027			6				2
2028			3				—
Thereafter			7				1
Total future lease payments			48				25
Less: interest			(7	)			(3	)
Present value of lease liabilities		$	41			$	22

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Schedule of maturities of operating and finance leases liabilities.

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-4

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