Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

16.     LEASES

The Company has entered into leases primarily for real estate, manufacturing equipment and vehicles with terms that range from 1 year to 8.5 years, excluding land use rights which generally extend over 90 years. These leases often include options to extend the term of the lease, most often for a period of 5 years. When it is reasonably certain that the option will be exercised, the impact of the option is included in the lease term for purposes of determining total future lease payments.

Costs associated with the Company’s operating lease expense were as follows:

	2021
Operating lease expense	$	325
Short-term lease expense		16
Variable lease expense		26
Total lease expense	$	367

Supplemental information related to the Company’s operating leases was as follows:

	2021
Operating cash flows – cash paid	$	373
New right-of-use assets	$	91
Weighted-average remaining lease term		9 years
Weighted-average discount rate		4.5	%

At December 31, 2021, the Company had commitments under operating leases requiring annual payments as follows:

	Total
2022	$	300
2023		268
2024		234
2025		205
2026		176
2027 and thereafter		835
		2,018
Less: amount representing interest		338
Total lease liabilities	$	1,680
Current operating liabilities	$	274
Non-current operating lease liabilities		1,406
Total lease liabilities	$	1,680

As of December 31, 2021, the Company had additional operating leases, primarily for manufacturing facilities, that had not yet commenced of $12 million. These operating leases will commence during 2022 and have lease terms of 1 to 10 years.

The Company’s finance leases were not material for any of the periods presented.