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Leases (Notes)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases of Lessee Disclosure [Text Block] LEASES
The company has operating and finance leases for real estate, transportation, certain machinery and equipment, and information technology assets. The company’s leases have remaining lease terms of approximately 1 to 40 years. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the company will exercise that option. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability.

Certain of the company's leases include residual value guarantees. These residual value guarantees are based on a percentage of the lessor's asset acquisition price and the amount of such guarantee declines over the course of the lease term. The portion of residual value guarantees that are probable of payment are included in the related lease liability. At December 31, 2022, the company has future maximum payments for residual value guarantees in operating leases of $219 million with final expirations through 2032. The company's lease agreements do not contain any material restrictive covenants.
The components of lease cost for the years ended December 31, 2022, 2021 and 2020 were as follows:
For the Year Ended December 31,
(In millions)202220212020
Operating lease cost$152 $158 $197 
Finance lease cost
Amortization of right-of-use assets1 1 2 
Total finance lease cost1 1 2 
Short-term lease cost1814 14 
Variable lease cost88 7 
Total lease cost$179 $181 $220 

Supplemental cash flow information related to leases for the years ended December 31, 2022, 2021 and 2020 was as follows:
For the Year Ended December 31,
(In millions)202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$155 $169 $202 
Financing cash outflows from finance leases$1 $1 $1 

New leases entered into during the years ended December 31, 2022 and 2021 were not material, on an individual basis. Supplemental balance sheet information related to leases is as follows:
(In millions)December 31, 2022December 31, 2021
Operating Leases
 
Operating lease right-of-use assets1
$460 $458 
Current operating lease liabilities2
119 121 
Noncurrent operating lease liabilities3
331 338 
Total operating lease liabilities
$450 $459 
Finance Leases
 
Property, plant, and equipment, gross
$14 $15 
Accumulated depreciation
(11)(11)
Property, plant, and equipment, net
3 4 
Short-term borrowings and finance lease obligations1 1 
Long-Term Debt2 3 
Total finance lease liabilities$3 $4 
1.Included in other assets in the Consolidated Balance Sheet.
2.Included in accrued and other current liabilities in the Consolidated Balance Sheet.
3.Included in other noncurrent obligations in the Consolidated Balance Sheet.

The company utilizes the incremental borrowing rate in determining the present value of lease payments unless the implicit rate is readily determinable.
Lease Term and Discount RateDecember 31, 2022December 31, 2021
Weighted-average remaining lease term (years)
Operating leases7.197.41
Financing leases2.363.36
Weighted average discount rate
Operating leases3.14 %2.75 %
Financing leases3.29 %3.29 %
Maturities of lease liabilities are as follows:
Maturity of Lease Liabilities at December 31, 2022Operating LeasesFinancing Leases
(In millions)
2023$130 $1 
202495 1 
202579 1 
202665 — 
202737 — 
2028 and thereafter98 — 
Total lease payments504 3 
Less: Interest54 — 
Present value of lease liabilities$450 $3