Leases

12 Months Ended

Dec. 31, 2022

11)

Leases

The Company has various operating leases for real estate and non-real estate items. The non-real estate leases are mainly comprised of automobiles but also include office equipment and other lower-valued items.

The elements of lease expense were as follows:


	Years Ended December 31,
	2022		2021
Operating lease(1)	$	27	$	28
Finance lease		3		—
Short-term lease		10		4
Total lease expense	$	13	$	32

(1)

Operating lease expense includes an immaterial amount of variable expenses, offset by certain sublease rental income.

Supplemental cash flow information related to leases was as follows:


	Years Ended December 31,
	2022		2021
Cash paid for amounts included in measurement of liabilities:
Operating cash flows used for operating leases(1)	$	28	$	13
Financing cash flows used for finance leases		2		—

ROU assets obtained in exchange for new lease liabilities
Operating leases		7		24
Finance leases		3		—

(1)

Operating cash flows used for operating leases for the year ended December 31, 2022 and 2021 include an immaterial amount of tenant improvement allowance receipts.

The weighted average remaining terms for all leases were as follows:


	Years Ended December 31,
	2022			2021
Weighted-average remaining lease term in years-operating leases		13.4			14.2
Weighted-average remaining lease term in years-finance leases		11.3			—
Weighted-average discount rate-operating leases		3.0	%		3.0	%
Weighted-average discount rate-finance leases		3.9	%		—

Future lease payments under non-cancelable leases as of December 31, 2022 are detailed as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2023	$	26	$	7
2024		23		6
2025		20		6
2026		17		4
2027		15		4
Thereafter		150		21
Total lease payments		251		48
Less: imputed interest		47		11
Total lease liabilities	$	204	$	37

Amounts presented above do not include payments relating to immaterial leases excluded from the balance sheet as well as leases with terms of less than twelve months.