Leases (Tables)

12 Months Ended

Dec. 31, 2024

Lease expense consisted of the following:


	Years Ended December 31,
	2024		2023	2022
	(Dollars in millions)
Operating and short-term lease cost	$	446	459	451
Finance lease cost:
Amortization of right-of-use assets	25		32	37
Interest on lease liability	11		12	15
Total finance lease cost	36		44	52
Total lease cost	$	482	503	503

Supplemental consolidated cash flow statement information related to leases is included below:


	Years Ended December 31,
	2024		2023
	(Dollars in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	427	461
Operating cash flows for finance leases	11		12
Financing cash flows for finance leases	17		25
Supplemental lease cash flow disclosures:
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	191	143
Right-of-use assets obtained in exchange for new finance lease liabilities	2		10

Supplemental consolidated balance sheet information and other information related to leases is included below:


		As of December 31,
Leases (Dollars in millions)	Classification on the Balance Sheet	2024			2023
Assets
Operating lease assets	Other, net	$	1,119		1,230
Finance lease assets	Property, plant and equipment, net of accumulated depreciation	236			260
Total leased assets		$	1,355		1,490

Liabilities
Current
Operating	Current operating lease liabilities	$	253		268
Finance	Current maturities of long-term debt	17			16
Noncurrent
Operating	Other	959			1,040
Finance	Long-term debt	198			215
Total lease liabilities		$	1,427		1,539

Weighted-average remaining lease term (years)
Operating leases		7.7			8.2
Finance leases		11.4			11.3
Weighted-average discount rate
Operating leases		8.90		%	7.59	%
Finance leases		4.40		%	4.98	%

As of December 31, 2024, maturities of lease liabilities were as follows:

As of December 31, 2024, maturities of lease liabilities were as follows: