LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Assets and Liabilities, Leases

Balance Sheet Classification of Operating Lease Assets and Liabilities

		December 31,
	Balance Sheet Line Item	2021		2020
		(in millions)
Assets
Operating lease assets	Other assets	$	215	$	272
Liabilities
Operating lease liabilities	Other liabilities	$	278	$	350

Lease, Cost

The table below summarizes the components of lease costs for the years ended December 31, 2021, 2020 and 2019.

Lease Costs

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Operating lease cost	$	73	$	77	$	77
Variable operating lease cost	10		11		10
Sublease income	(18)		(18)		(16)
Short-term lease expense	—		—		2
Net lease cost	$	65	$	70	$	72

The below table presents the Company’s weighted-average remaining operating lease term and weighted-average discount rate.

Weighted Averages - Remaining Operating Lease Term and Discount Rate

	December 31,
	2021		2020
Weighted-average remaining operating lease term	5 years		5 years
Weighted-average discount rate for operating leases	2.90	%	3.00	%

Supplemental cash flow information related to leases was as follows:

Lease Liabilities Information

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	94	$	94	87
Non-cash transactions:
Leased assets obtained in exchange for new operating lease liabilities	$	26	$	20	50

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2021 are as follows:

Maturities of Lease Liabilities

	December 31, 2021
	(in millions)
Operating Leases:
2022	$	94
2023	83
2024	30
2025	26
2026	22
Thereafter	42
Total lease payments	297
Less: Interest	(19)
Present value of lease liabilities	$	278