LEASES (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lease Related Assets and Liabilities

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

(Dollar amounts in millions)	September 30, 2024			December 31, 2023
Operating leases
ROU assets, net of amortization	$	164		$	172
Lease liabilities	187			198
Finance leases
ROU assets, net of amortization	3			3
Lease liabilities	4			4
Weighted average remaining lease term (years)
Operating leases	8.6			8.7
Finance leases	15.8			16.5
Weighted average discount rate
Operating leases	3.6		%	3.4		%
Finance leases	3.1			3.1

Lease Expense

The following schedule presents additional information related to lease expense:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2024		2023		2024		2023
Lease expense:
Operating lease expense	$	10	$	11	$	30	$	32
Other expenses associated with operating leases 1	16		16		46		46
Total lease expense	$	26	$	27	$	76	$	78
Related cash disbursements from operating leases	$	11	$	11	$	33	$	36

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	$	11
2025	39
2026	35
2027	25
2028	20
Thereafter	93
Total	$	223

1 Contractual maturities for the three months remaining in 2024.