LEASES (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Lease, Cost

The components of lease expense were as follows:

TABLE 7.1

	Three Months Ended March 31,
(dollars in millions)	2025		2024
Operating lease cost	$	10	$	10
Variable lease cost	1		1
Finance lease cost	1		1
Total lease cost	$	12	$	12

Schedule of Leases, Other Information

Other information related to leases is as follows:

TABLE 7.2

	Three Months Ended March 31,
(dollars in millions)	2025			2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10		$	7
Operating cash flows from finance leases	$	—		$	—
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	16		$	2
Finance leases	$	—		$	—
Weighted average remaining lease term (years):
Operating leases	11			9
Finance leases	17			19
Weighted average discount rate:
Operating leases	4.0		%	3.0		%
Finance leases	3.6		%	3.2		%

Schedule of Lessee, Operating Lease, Liability, Maturity

Future cash flows of lease liabilities are as follows:

TABLE 7.3

(in millions)	Operating Leases		Finance Leases		Total Leases
March 31, 2025
0 - 12 months	$	35	$	2	$	37
13 - 24 months	32		2		34
25 - 36 months	29		3		32
37 - 48 months	26		3		29
49 - 60 months	24		3		27
Later years	156		36		192
Total lease payments	302		49		351
Less: imputed interest	(61)		(13)		(74)
Present value of lease liabilities	$	241	$	36	$	277

Schedule of Finance Lease, Liability, Fiscal Year Maturity

Future cash flows of lease liabilities are as follows:

TABLE 7.3

(in millions)	Operating Leases		Finance Leases		Total Leases
March 31, 2025
0 - 12 months	$	35	$	2	$	37
13 - 24 months	32		2		34
25 - 36 months	29		3		32
37 - 48 months	26		3		29
49 - 60 months	24		3		27
Later years	156		36		192
Total lease payments	302		49		351
Less: imputed interest	(61)		(13)		(74)
Present value of lease liabilities	$	241	$	36	$	277