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Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Lessee Disclosure [Abstract] |
Leases | LEASES The Company leases land, buildings, cars and certain equipment (including IT equipment) which have remaining lease terms between less than one year and 50 years. Operating and finance leases consisted of the following:
|  | December 31, 2023 |  | December 31, 2022
Right-of-use assets |  |  |  |
Operating leases |  | 278 |  |  | 193 |
Finance leases |  | 61 |  |  | 55 |
Total right-of-use assets |  | 339 |  |  | 248 |
Lease liabilities |  |  |  |
Current |  | 68 |  |  | 59 |
Operating leases |  | 58 |  |  | 52 |
Finance leases |  | 10 |  |  | 7 |
Non-current |  | 243 |  |  | 191 |
Operating leases |  | 188 |  |  | 141 |
Finance leases |  | 55 |  |  | 50 |
Total lease liabilities |  | 311 |  |  | 250 |
Maturities of lease liabilities are as follows:
|  | Operating Leases |  | Finance Leases |  | December 31, 2023
2024 |  | 66 |  |  | 10 |  |  | 76 |
2025 |  | 49 |  |  | 6 |  |  | 55 |
2026 |  | 35 |  |  | 6 |  |  | 41 |
2027 |  | 25 |  |  | 29 |  |  | 54 |
2028 |  | 22 |  |  | 2 |  |  | 24 |
Thereafter |  | 106 |  |  | 31 |  |  | 137 |
Total future undiscounted cash outflows |  | 303 |  |  | 84 |  |  | 387 |
Effect of discounting |  | (57) |  |  | (19) |  |  | (76) |
Total lease liabilities |  | 246 |  |  | 65 |  |  | 311 |
Operating and finance lease terms and discount rates are as follows:
|  | December 31, 2023 |  | December 31, 2022
Weighted average remaining lease term (in years) – operating leases |  | 8.94 |  | 9.46
Weighted average remaining lease term (in years) – finance leases |  | 10.24 |  | 9.89
Weighted average discount rate – operating lease |  | 3.61 | % |  | 3.12 | %
Weighted average discount rate – finance lease |  | 3.82 | % |  | 3.86 | %
Operating and finance lease cost and cash paid are as follows:
|  | 2023 |  | 2022
Operating lease cost |  | 71 |  |  | 62 |
Finance lease cost |  |  |  |
Amortization of right-of-use assets |  | 5 |  |  | 2 |
Interest |  | 3 |  |  | 1 |
Operating lease cash paid |  | 74 |  |  | 63 |
Finance lease cash paid |  | 4 |  |  | — |
Non-cash transaction right-of-use assets obtained in exchange for new lease liabilities are as follows:
|  | 2023 |  | 2022
Operating leases |  | 114 |  |  | 60 |
Finance leases |  | 8 |  |  | 55 |

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