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Right-of-use assets and Lease liabilities
 12 Months Ended
Dec. 31, 2024
Leases1 [Abstract]  
Right-of-use assets and Lease liabilities Right-of-use assets and Lease liabilities
Right-of-use assets
Right-of-use assets as of December 31, 2024 and 2023 were comprised of the following:
($ millions)20242023
Land21 14 
Buildings392 309 
Machinery & equipment and other assets36 31 
Total right-of-use assets449 354 
Depreciation charges of $83 million, $91 million and $76 million for the years ended December 31, 2024, 2023 and 2022, respectively, are shown in the table below by underlying class of asset.
($ millions)202420232022
Land1 1 1 
Buildings62 72 58 
Machinery & equipment and other assets20 18 17 
Total depreciation of right-of-use assets83 91 76 
Lease liabilities
Lease liabilities totaled $497 million as of December 31, 2024, including $68 million in current Lease liabilities and $429 million in non-current Lease liabilities. The contractual maturities of the undiscounted lease liabilities as of December 31, 2024 and 2023 are as follows:
Lease liabilities undiscounted
($ millions)20242023
Not later than one year89 86 
Between one and five years244 222 
Later than five years307 205 
Total lease liabilities undiscounted640 513 
Lease liabilities
($ millions)20242023
Not later than one year6871
Between one and five years183 178 
Later than five years246 157 
Total lease liabilities497 406 
Additional disclosures
The below table provides additional disclosures related to Right-of-use assets and Lease liabilities.
($ millions)202420232022
Interest expense on lease liabilities19 17 15 
Expense on short-term, low value and variable leases3 3 3 
Total cash outflows for leases105 99 87 
Thereof:
Lease liability payments(1)
83 79 69 
Interest payments(2)
19 17 15 
Short-term, low value and variable lease payments(2)
3 3 3 
(1)     Reported as cash outflows from financing activities net of lease incentives received.
(2)     Included within total net cash flows from operating activities.