Contingencies and Commitments (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Lease Costs

Finance lease expense (in millions) was as follows:

	For the Years Ended December 31,
	2023		2022		2021
Amortization of finance lease assets (1)	$	9	$	23	$	38
Interest on finance lease liabilities (2)	5		4		3
Total	$	14	$	27	$	41

(1) Amortization of finance lease assets is reported in commissions and other expenses on the Consolidated Statements of Comprehensive Income (Loss).

(2) Interest on finance lease liabilities is reported in interest and debt expense on the Consolidated Statements of Comprehensive Income (Loss).

The table below presents cash flow information (in millions) related to leases:

	For the Years Ended December 31,
	2023		2022		2021
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	41	$	47	$	40
Financing cash flows from finance leases	83		74		62
Supplemental Non-Cash Information
ROU assets obtained in exchange for new lease obligations:
Operating leases	$	–	$	6	$	8

Schedule of Operating Lease Maturity

Our future minimum lease payments (in millions) under non-cancellable leases as of December 31, 2023, were as follows:

	Operating Leases		Finance Leases
2024	$	34	$	18
2025	26		7
2026	22		4
2027	15		–
2028	8		–
Thereafter	7		–
Total future minimum lease payments	112		29
Less: Amount representing interest	23		2
Present value of minimum lease payments	$	89	$	27

Schedule of Financing Lease Maturity

Our future minimum lease payments (in millions) under non-cancellable leases as of December 31, 2023, were as follows:

	Operating Leases		Finance Leases
2024	$	34	$	18
2025	26		7
2026	22		4
2027	15		–
2028	8		–
Thereafter	7		–
Total future minimum lease payments	112		29
Less: Amount representing interest	23		2
Present value of minimum lease payments	$	89	$	27

As of December 31, 2023 and 2022, we had $595 million and $558 million, respectively, of financing obligations reported within other liabilities on the Consolidated Balance Sheets. Future payments due on certain financing arrangements (in millions) as of December 31, 2023, were as follows:

2024	$	152
2025	172
2026	224
2027	127
2028	10
Thereafter	6
Total future minimum lease payments	691
Less: Amount representing interest	96
Present value of minimum lease payments	$	595