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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Lease

The following tables present amounts recorded on our consolidated balance sheets at December 31, 2023 and 2022, classified as either operating or finance leases. Operating leases are presented separately on our consolidated balance sheets. For the finance leases, the ROU assets are included in fixed assets, net, and the liabilities are classified within Other current liabilities and Other non-current liabilities.

 

 

December 31, 2023

 

 

December 31, 2022

 

 

 

Operating Leases

 

 

Finance Leases

 

 

Total
Leases

 

 

Operating Leases

 

 

Finance Leases

 

 

Total
Leases

 

Right-of-use assets

 

$

565

 

 

$

3

 

 

$

568

 

 

$

586

 

 

$

4

 

 

$

590

 

Current lease liabilities

 

 

125

 

 

 

5

 

 

 

130

 

 

 

126

 

 

 

4

 

 

 

130

 

Long-term lease liabilities

 

 

592

 

 

 

7

 

 

 

599

 

 

 

620

 

 

 

12

 

 

 

632

 

 

Schedule of Amount Recorded in Consolidated Statements of Comprehensive Income

The following tables present amounts recorded on our consolidated statements of comprehensive income for the years ended December 31, 2023, 2022 and 2021:

 

 

Years ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

1

 

 

$

2

 

 

$

1

 

Interest on lease liabilities

 

 

2

 

 

 

2

 

 

 

3

 

Operating lease cost

 

 

146

 

 

 

175

 

 

 

192

 

Short-term lease cost

 

 

1

 

 

 

 

 

 

1

 

Variable lease cost

 

 

64

 

 

 

71

 

 

 

52

 

Sublease income

 

 

(13

)

 

 

(15

)

 

 

(20

)

Total lease cost, net

 

$

201

 

 

$

235

 

 

$

229

 

Schedule of Cash Paid in the Measurement of Lease Liabilities

Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2023, 2022 and 2021, as well as its location in the consolidated statements of cash flows, is as follows:

 

 

Years ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

Operating leases

 

$

155

 

 

$

173

 

 

$

186

 

Finance leases

 

 

2

 

 

 

2

 

 

 

3

 

Cash flows used in financing activities:

 

 

 

 

 

 

 

 

 

Finance leases

 

 

4

 

 

 

4

 

 

 

3

 

Total lease payments

 

$

161

 

 

$

179

 

 

$

192

 

Schedule of Weighted Average Term and Discount Rates

Our operating and finance leases have the following weighted-average terms and discount rates as of December 31, 2023 and 2022:

 

 

December 31, 2023

 

 

December 31, 2022

 

 

 

Operating
 Leases

 

 

Finance
 Leases

 

 

Operating
 Leases

 

 

Finance
 Leases

 

Weighted-average term (in years)

 

 

6.6

 

 

 

2.1

 

 

 

6.9

 

 

 

3.1

 

Weighted-average discount rate

 

 

3.7

%

 

 

12.7

%

 

 

3.4

%

 

 

12.7

%

Schedule of Maturity of Operating and Finance Leases Liabilities

The maturity of our lease liabilities on an undiscounted basis, including a reconciliation to the total lease liabilities reported on the consolidated balance sheet as of December 31, 2023, is as follows:

 

 

Operating Leases

 

 

Finance Leases

 

 

Total Leases

 

2024

 

$

147

 

 

$

6

 

 

$

153

 

2025

 

 

135

 

 

 

6

 

 

 

141

 

2026

 

 

120

 

 

 

2

 

 

 

122

 

2027

 

 

96

 

 

 

 

 

 

96

 

2028

 

 

87

 

 

 

 

 

 

87

 

Thereafter

 

 

227

 

 

 

 

 

 

227

 

Total future lease payments

 

 

812

 

 

 

14

 

 

 

826

 

Interest

 

 

(95

)

 

 

(2

)

 

 

(97

)

Total lease liabilities

 

$

717

 

 

$

12

 

 

$

729