Leases (Tables)

12 Months Ended

Dec. 31, 2024

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	2024		2023		2022
Operating lease cost	$	80	$	86	$	91
Short-term lease cost	16		15		18
Other (1)	17		8		15
Total lease cost	$	113	$	109	$	124

(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,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	78	$	81	$	92
Operating cash flows for finance leases	$	8	$	6	$	6
Financing cash flows for finance leases	$	15	$	11	$	12
Non-cash change in lease liabilities arising from obtaining new right-of-use assets or modifications:
Operating leases	$	98	$	32	$	43
Finance leases	$	25	$	27	$	2

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

	December 31,
	2024		2023
Weighted-average remaining lease term (in years):
Operating leases	14		13
Finance leases	7		8
Weighted-average discount rate:
Operating leases	5.1	%	4.9	%
Finance leases	10.6	%	11.3	%

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	2024		2023
Assets
Operating lease right-of-use assets	Long-term operating lease right-of-use assets, net	$	332	$	313
Finance lease right-of-use assets (1)	Property and equipment	$	147	$	144
	Accumulated depreciation	(46)		(46)
	Property and equipment, net	$	101	$	98
Total lease right-of-use assets		$	433	$	411
Liabilities
Operating lease liabilities
Current	Other current liabilities	$	63	$	69
Noncurrent	Long-term operating lease liabilities	313		274
Total operating lease liabilities		$	376	$	343
Finance lease liabilities (1)
Current	Short-term debt	$	14	$	13
Noncurrent	Other long-term debt, net	72		63
Total finance lease liabilities		$	86	$	76
Total lease liabilities		$	462	$	419

(1)Includes right-of-use assets of $26 million and $28 million and lease liabilities of $33 million and $34 million as of December 31, 2024 and 2023, 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, 2024 reconciled to our lease liabilities on our Consolidated Balance Sheet (amounts in millions):

	Operating		Finance (2)
Future minimum lease payments (1):
2025	$	73	$	22
2026	55		17
2027	54		16
2028	47		19
2029	37		12
Thereafter	321		46
Total	587		132
Less: Present value discount	(211)		(46)
Lease liabilities	$	376	$	86

(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 2025 through 2029 and approximately $39 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, 2024 reconciled to our lease liabilities on our Consolidated Balance Sheet (amounts in millions):

	Operating		Finance (2)
Future minimum lease payments (1):
2025	$	73	$	22
2026	55		17
2027	54		16
2028	47		19
2029	37		12
Thereafter	321		46
Total	587		132
Less: Present value discount	(211)		(46)
Lease liabilities	$	376	$	86

(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 2025 through 2029 and approximately $39 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,
	2024		2023		2022
Operating lease revenue (1)	$	26	$	32	$	29

(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):

	2025		2026		2027		2028		2029		Thereafter
Future minimum lease revenue	$	22	$	17	$	19	$	19	$	17	$	131