Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Schedule of Lease Cost and Additional Information

The following table provides additional information about the Company’s property leases:

	Three Months Ended September 30,				Nine Months Ended  September 30,
(In millions)	2024		2023		2024			2023
Lease Cost:
Operating lease cost (a)	$	84	$	82	$	247		$	243
Short-term lease cost	1		1		4			4
Variable lease cost	31		31		85			94
Sublease income	(2)		(2)		(10)			(8)
Net lease cost	$	114	$	112	$	326		$	333
Other information:
Operating cash outflows from operating leases					$	278		$	284
Right of use assets obtained in exchange for new operating lease liabilities					$	135		$	177
Weighted average remaining lease term – real estate					7.8 years			8.1 years
Weighted average discount rate – real estate leases					3.64		%	3.28		%

(a) Excludes ROU asset impairment charges.

Schedule of Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases at September 30, 2024 are as follows:

(In millions)	Real Estate Leases
2024 (excludes payments through September 30, 2024)	$	95
2025	371
2026	343
2027	305
2028	229
2029	183
Subsequent years	678
Total future lease payments	2,204
Less: Imputed interest	(273)
Total	$	1,931
Current lease liabilities	$	313
Long-term lease liabilities	1,618
Total lease liabilities	$	1,931

Note: The above table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a ROU asset or liability in the consolidated balance sheets.