Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Lease Cost

The following tables provide information about the Company’s operating leases. The Company has not identified any material finance leases as of December 31, 2023; therefore, the finance lease components have not been disclosed in the tables below.

Lease cost
(Dollars in millions)
	2023			2022			2021
Operating lease cost	$	54		$	50		$	44
Short-term lease cost		8			9			10
Variable lease cost		5			4			4
Sublease income		(1	)		(1	)		(2	)
Total lease cost	$	66		$	62		$	56

Summary of Other Information

Other information
(Dollars in millions)	Year ended or as of December 31,
	2023			2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	47		$	42
Right-of-use assets obtained in exchange for new operating lease liabilities		70			74
Weighted-average remaining lease term - operating leases	9.4 years			9.7 years
Weighted-average discount rate - operating leases		3.2	%		2.8	%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities (undiscounted cash flows) are as follows:
(Dollars in millions)
	Maturities
2024	$	40
2025		33
2026		24
2027		19
2028		13
Thereafter		77
Total operating lease payments		206
Less imputed interest		(31	)
Total operating lease liabilities	$	175