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LEASES (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Components of operating lease cost
The components of operating lease cost are presented below.
Year Ended December 31,
(dollars in millions)202320222021
Operating lease cost$221 $216 $161 
Short-term lease cost2 2 1 
Variable lease cost5 7 8 
Sublease income(1)(1)(4)
Total$227 $224 $166 
Year Ended December 31,
(dollars in millions)202320222021
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases$232 $219 $163 
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets in exchange for new operating lease liabilities64 408 79 
Supplemental consolidated balance sheet information
Supplemental information related to the Company’s operating lease arrangements is presented in the tables below:
(dollars in millions)December 31, 2023December 31, 2022Affected Line Item in Consolidated Balance Sheets
Operating lease right-of-use assets$885 $1,019 Other assets
Operating lease liabilities977 1,066 Other liabilities
Weighted average remaining lease term (years)77—
Weighted average discount rate3.10 %2.74 %—
Lease liability maturity schedule
Lease liabilities maturing under non-cancelable operating leases are presented below as of December 31, 2023.
Year
(dollars in millions)
2024$210 
2025201 
2026161 
2027140 
2028111 
Thereafter262 
Total lease payments1,085 
Less: Interest108 
Present value of lease liabilities$977