LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Lease, Cost

The components of lease expense were as follows:

TABLE 10.1

	Twelve Months Ended December 31,
(dollars in millions)	2024		2023		2022
Operating lease cost	$	41	$	34	$	30
Short-term lease cost	1		—		1
Variable lease cost	5		5		4
Finance lease cost	3		3		1
Total lease cost	$	50	$	42	$	36

Schedule of Leases, Other Information

Other information related to leases is as follows:

TABLE 10.2

	Twelve Months Ended December 31,
(dollars in millions)	2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	34		$	29
Operating cash flows from finance leases	$	1		$	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	27		$	62
Finance leases	$	10		$	7
Weighted average remaining lease term (years):
Operating leases	11			11
Finance leases	18			20
Weighted average discount rate:
Operating leases	3.9		%	3.6		%
Finance leases	3.5		%	3.2		%

Schedule of Lessee, Operating Lease, Liability, Maturity

Future cash flows of lease liabilities are as follows:

TABLE 10.3

(in millions)	Operating Leases		Finance Leases		Total Leases
December 31, 2024
0 - 12 months	$	34	$	2	$	36
13 - 24 months	31		3		34
25 - 36 months	28		3		31
37 - 48 months	25		3		28
49 - 60 months	23		3		26
Later years	157		42		199
Total lease payments	298		56		354
Less: imputed interest	(61)		(15)		(76)
Present value of lease liabilities	$	237	$	41	$	278

Schedule of Finance Lease, Liability, Fiscal Year Maturity

Future cash flows of lease liabilities are as follows:

TABLE 10.3

(in millions)	Operating Leases		Finance Leases		Total Leases
December 31, 2024
0 - 12 months	$	34	$	2	$	36
13 - 24 months	31		3		34
25 - 36 months	28		3		31
37 - 48 months	25		3		28
49 - 60 months	23		3		26
Later years	157		42		199
Total lease payments	298		56		354
Less: imputed interest	(61)		(15)		(76)
Present value of lease liabilities	$	237	$	41	$	278