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Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases LEASES
The Company has operating leases for office space, warehouses, distribution centers, research and development facilities, manufacturing locations and certain equipment, primarily automobiles. Many leases include one or more options to renew, some of which include options to extend for up to 30 years, and some leases include options to terminate within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for common area maintenance, utilities, inflation and/or changes in other indexes. The Company’s finance leases were not material as of December 31, 2024 and 2023. ROU assets arising from finance leases are included in property, plant and equipment, net and the liabilities are included in notes payable and current portion of long-term debt and long-term debt in the accompanying Consolidated Balance Sheets.
The Consolidated Financial Statements include the following amounts related to operating leases where the Company is the lessee ($ in millions):
202420232022
Consolidated Statements of Earnings
Fixed operating lease expense(a)
$239 $207 $199 
Variable operating lease expense60 67 60 
Total operating lease expense$299 $274 $259 
Consolidated Statements of Cash Flows
Cash paid for amounts included in the measurement of operating lease liabilities$245 $214 $219 
ROU assets obtained in exchange for operating lease obligations320 182 188 
Consolidated Balance SheetsDecember 31, 2024December 31, 2023
Lease Assets and LiabilitiesClassification
Operating lease ROU assetsOther long-term assets$1,084 $1,052 
Operating lease liabilities - currentAccrued expenses and other liabilities$173 $180 
Operating lease liabilities - long-termOther long-term liabilities968 954 
Total operating lease liabilities$1,141 $1,134 
Weighted average remaining lease term9 years9 years
Weighted average discount rate4.2 %3.4 %
(a) Includes short-term leases and sublease income, both of which were immaterial.

The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2024 ($ in millions):
2025$212 
2026190 
2027153 
2028134 
2029120 
Thereafter584 
Total operating lease payments1,393 
Less: imputed interest(252)
Total operating lease liabilities$1,141 
As of December 31, 2024, the Company had no additional significant operating or finance leases that had not yet commenced.