LEASES (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Lease, Cost

The components of lease expense were as follows:

TABLE 8.1

	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in millions)	2022		2021		2022		2021
Operating lease cost	$	8	$	7	$	16	$	14
Variable lease cost	1		1		2		2
Total lease cost	$	9	$	8	$	18	$	16

Leases, Other Information

Other information related to leases is as follows:

TABLE 8.2

	Six Months Ended June 30,
(dollars in millions)	2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7		$	7
Operating cash flows from finance leases	$	—		$	—
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	1		$	2
Finance leases	$	6		$	10
Weighted average remaining lease term (years):
Operating leases	9.60			9.36
Finance leases	22.06			24.34
Weighted average discount rate:
Operating leases	2.4		%	2.6		%
Finance leases	2.5		%	1.9		%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities were as follows:

TABLE 8.3

(in millions)	Operating Leases		Finance Leases		Total Leases
June 30, 2022
2022	$	14	$	1	$	15
2023	24		1		25
2024	22		1		23
2025	16		1		17
2026	13		1		14
Later years	77		23		100
Total lease payments	166		28		194
Less: imputed interest	(20)		(7)		(27)
Present value of lease liabilities	$	146	$	21	$	167

Finance Lease, Liability, Fiscal Year Maturity

Maturities of lease liabilities were as follows:

TABLE 8.3

(in millions)	Operating Leases		Finance Leases		Total Leases
June 30, 2022
2022	$	14	$	1	$	15
2023	24		1		25
2024	22		1		23
2025	16		1		17
2026	13		1		14
Later years	77		23		100
Total lease payments	166		28		194
Less: imputed interest	(20)		(7)		(27)
Present value of lease liabilities	$	146	$	21	$	167