LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Components of Lease Expense and Supplemental Cash Flow Information

The components of lease expense are as follows:

(In millions)	2023		2022		2021
Operating lease cost	$	200	$	179	$	164
Finance lease cost:
Amortization of lease assets	15		11		12
Interest on lease liabilities	1		1		2
Short-term lease cost	18		17		15
Variable lease cost	28		27		16
Sublease income	(1)		(1)		(2)
Total lease cost	$	261	$	234	$	207

Supplemental cash flow information related to leases is as follows:

(In millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	(180)	$	(159)	$	(158)
Operating cash outflows - interest payments on finance leases	(1)		(2)		(2)
Financing cash outflows - payments on finance lease obligations	(18)		(11)		(11)
Lease assets obtained in exchange for new lease obligations, including leases acquired:
Operating leases	$	183	$	245	$	145
Finance leases	38		10		14

Schedule of Supplemental Balance Sheet Information related to Leases

Supplemental balance sheet information related to leases is as follows:

	December 31
(In millions)	2023		2022
Operating Leases
Operating lease assets	$	648	$	570
Other current liabilities	135		127
Operating lease liabilities	533		459
Total operating lease liabilities	$	668	$	586
Finance Leases
Land and buildings	$	13	$	6
Machinery and equipment	62		40
Accumulated depreciation	(36)		(20)
Net property, plant and equipment	$	39	$	26
Current portion of long-term debt	$	13	$	10
Long-term debt	22		18
Total finance lease liabilities	$	35	$	28

	December 31
	2023		2022
Weighted-average remaining lease term
Operating leases	7.6 years		7.6 years
Finance leases	4.4 years		4.9 years
Weighted-average discount rate
Operating leases	4.0	%	3.3	%
Finance leases	3.6	%	3.0	%

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities at December 31, 2023 are as follows:

(In millions)	Operating Leases		Finance Leases
2024	$	156	$	14
2025	126		8
2026	106		6
2027	85		4
2028	63		2
Thereafter	259		4
Total lease payments	795		38
Less imputed interest	127		3
Total present value of lease liabilities	$	668	$	35

Schedule of Maturities of Finance Lease Liabilities

Maturities of lease liabilities at December 31, 2023 are as follows:

(In millions)	Operating Leases		Finance Leases
2024	$	156	$	14
2025	126		8
2026	106		6
2027	85		4
2028	63		2
Thereafter	259		4
Total lease payments	795		38
Less imputed interest	127		3
Total present value of lease liabilities	$	668	$	35