Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Costs and Other Lessee Information

The following table presents components of lease cost, including both amounts recognized in income and amounts capitalized (in millions):

	Year Ended December 31,
Lease Cost	2023		2022		2021
Operating lease cost	$	86	$	91	$	96
Short-term lease cost	15		18		19
Other (1)	8		15		14
Total lease cost	$	109	$	124	$	129

(1)Includes finance lease costs, variable lease costs and sublease income.

The following table presents information related to cash flows arising from lease transactions (in millions):

	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	81	$	92	$	91
Operating cash flows for finance leases	$	6	$	6	$	7
Financing cash flows for finance leases	$	11	$	12	$	11
Non-cash change in lease liabilities arising from obtaining new right-of-use assets or modifications:
Operating leases	$	32	$	43	$	94
Finance leases	$	27	$	2	$	1

Information related to the weighted-average remaining lease term and discount rate is presented in the table below:

	December 31,
	2023		2022
Weighted-average remaining lease term (in years):
Operating leases	13		12
Finance leases	8		9
Weighted-average discount rate:
Operating leases	4.9	%	4.3	%
Finance leases	11.3	%	12.3	%

Schedule of Assets and Liabilities, Lessee

The following table presents the amount and location of our operating and finance lease right-of-use assets and liabilities on our Consolidated Balance Sheets (in millions):

		December 31,
Leases	Balance Sheet Location	2023		2022
Assets
Operating lease right-of-use assets	Long-term operating lease right-of-use assets, net	$	313	$	349
Finance lease right-of-use assets (1)	Property and equipment	$	144	$	124
	Accumulated depreciation	(46)		(41)
	Property and equipment, net	$	98	$	83
Total lease right-of-use assets		$	411	$	432
Liabilities
Operating lease liabilities
Current	Other current liabilities	$	69	$	71
Noncurrent	Long-term operating lease liabilities	274		308
Total operating lease liabilities		$	343	$	379
Finance lease liabilities (1)
Current	Short-term debt	$	13	$	10
Noncurrent	Other long-term debt, net	63		50
Total finance lease liabilities		$	76	$	60
Total lease liabilities		$	419	$	439

(1)Includes right-of-use assets of $28 million and $30 million and lease liabilities of $34 million and $35 million as of December 31, 2023 and 2022, respectively, associated with leased storage tanks owned by an equity method investee, in which we own a 50% interest.

Schedule of Finance Lease Maturity

The following table presents the maturity of undiscounted cash flows for future minimum lease payments under noncancelable leases as of December 31, 2023 reconciled to our lease liabilities on our Consolidated Balance Sheet (amounts in millions):

	Operating		Finance (2)
Future minimum lease payments (1):
2024	$	80	$	20
2025	68		17
2026	51		13
2027	43		12
2028	34		15
Thereafter	238		48
Total	514		125
Less: Present value discount	(171)		(49)
Lease liabilities	$	343	$	76

(1)Excludes future minimum payments for short-term and other immaterial leases not included on our Consolidated Balance Sheet.

(2)Includes payments of approximately $6 million for each of the years ending 2024 through 2028 and approximately $45 million thereafter associated with leased storage tanks owned by an equity method investee, in which we own a 50% interest.

Schedule of Operating Lease Maturity

The following table presents the maturity of undiscounted cash flows for future minimum lease payments under noncancelable leases as of December 31, 2023 reconciled to our lease liabilities on our Consolidated Balance Sheet (amounts in millions):

	Operating		Finance (2)
Future minimum lease payments (1):
2024	$	80	$	20
2025	68		17
2026	51		13
2027	43		12
2028	34		15
Thereafter	238		48
Total	514		125
Less: Present value discount	(171)		(49)
Lease liabilities	$	343	$	76

(1)Excludes future minimum payments for short-term and other immaterial leases not included on our Consolidated Balance Sheet.

(2)Includes payments of approximately $6 million for each of the years ending 2024 through 2028 and approximately $45 million thereafter associated with leased storage tanks owned by an equity method investee, in which we own a 50% interest.

Schedule of Lessor Operating Lease Revenue

The following table presents our lease revenue for the periods indicated (in millions):

	Year Ended December 31,
	2023		2022		2021
Operating lease revenue (1)	$	32	$	29	$	28

(1)These amounts are included in “Services revenues” on our Consolidated Statements of Operations.

Schedule of Lessor Future Revenues Maturity

The following table presents the undiscounted cash flows expected to be received related to these agreements (in millions):

	2024		2025		2026		2027		2028		Thereafter
Future minimum lease revenue	$	24	$	18	$	15	$	16	$	16	$	154