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LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of operating lease cost
The components of operating lease cost are presented below.
Year Ended December 31,
(dollars in millions)202420232022
Operating lease cost$220 $221 $216 
Short-term lease cost3 2 2 
Variable lease cost5 5 7 
Sublease income(5)(1)(1)
Total$223 $227 $224 
Year Ended December 31,
(dollars in millions)202420232022
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases$233 $232 $219 
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets in exchange for new operating lease liabilities84 64 408 
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, 2024December 31, 2023Affected Line Item in Consolidated Balance Sheets
Operating lease right-of-use assets$869 $885 Other assets
Operating lease liabilities956 977 Other liabilities
Weighted average remaining lease term (years)77—
Weighted average discount rate3.51 %3.10 %—
Lease liability maturity schedule
Lease liabilities maturing under non-cancelable operating leases are presented below as of December 31, 2024.
Year
(dollars in millions)
2025$204 
2026193 
2027171 
2028140 
2029108 
Thereafter267 
Total lease payments1,083 
Less: Interest127 
Present value of lease liabilities$956