Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lease Related Assets and Liabilities

The following schedule presents ROU assets and lease liabilities with associated weighted average remaining life and discount rate:

(Dollar amounts in millions)	June 30, 2024			December 31, 2023
Operating leases
ROU assets, net of amortization	$	166		$	172
Lease liabilities	190			198
Finance leases
ROU assets, net of amortization	3			3
Lease liabilities	4			4
Weighted average remaining lease term (years)
Operating leases	8.7			8.7
Finance leases	16.0			16.5
Weighted average discount rate
Operating leases	3.5		%	3.4		%
Finance leases	3.2		%	3.1		%

Lease Expense

The following schedule presents additional information related to lease expense:

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2024		2023		2024		2023
Lease expense:
Operating lease expense	$	10	$	11	$	20	$	22
Other expenses associated with operating leases 1	15		16		30		30
Total lease expense	$	25	$	27	$	50	$	52
Related cash disbursements from operating leases	$	11	$	12	$	22	$	24

1 Other expenses primarily include property taxes and building and property maintenance.

Lease Maturity Analysis

The following schedule presents the total contractual undiscounted lease payments for operating lease liabilities by expected due date for each of the next five years:

(In millions)	Total undiscounted lease payments
2024 1	$	21
2025	38
2026	34
2027	24
2028	19
Thereafter	91
Total	$	227

1 Contractual maturities for the six months remaining in 2024.