Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows:

($ in millions)	Classification in the Consolidated Statement of Income	2024	2023	2022
Operating lease cost	Cost of sales, exclusive of depreciation and amortization	$47	$45	$42
Operating lease cost	Selling, general and administrative	141	138	136
Total operating lease cost		$188	$183	$178
Finance lease cost:
Amortization of right-of-use assets	Depreciation	$1	$1	$2
Interest on lease liabilities	Interest expense	1	1	1
Total finance lease cost		$2	$2	$3
Total lease cost		$190	$185	$181

Total operating lease cost for the years ended December 31, 2024, 2023 and 2022 is inclusive of the following:

($ in millions)	2024	2023	2022
Variable lease costs	$9	$9	$6
Short-term lease costs	$20	$19	$21

The lease amounts included in

Schedule of Classification on the Condensed Consolidated Balance Sheet

($ in millions)	Classification on the Consolidated Balance Sheet	2024	2023
Assets:
Operating	Operating lease right-of-use assets	$597	$571
Finance(1)	Property, plant, and equipment, net	12	12
Total leased assets		$609	$583
Liabilities:
Current
Operating	Current portion of operating lease liabilities	$126	$128
Finance	Short-term debt and current portion of long-term debt	2	2
Noncurrent
Operating	Operating lease liabilities	454	417
Finance	Long-term debt	5	6
Total lease liabilities		$587	$553

(1)Net of accumulated depreciation of $14 million as of both December 31, 2024 and 2023.

Supplemental cash flow information related to leases for the years ended December 31, 2024, 2023 and 2022 was as follows:

Schedule of Cash Paid for Lease Liabilities and Right-of-Use Assets Obtained in Exchange for Lease Obligations

($ in millions)	2024	2023	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$157	$155	$151
Operating cash flows paid for finance leases	$1	$1	$1
Financing cash flows paid for finance leases	$2	$2	$2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$184	$119	$90
Finance leases	$1	$1	$3

Lease terms and discount rates as of December 31, 2024, 2023 and 2022 were as follows:

Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate

	2024		2023		2022
Weighted-average remaining lease term (in years)
Operating leases	6.9		6.8		7.3
Finance leases	8.1		9.3		8.6
Weighted-average discount rate
Operating leases	3.6	%	3.0	%	2.4	%
Finance leases	6.8	%	6.0	%	5.9	%

Schedule of Maturities of Lease Liabilities, Operating Lease

As of December 31, 2024, maturities of lease liabilities were as follows:

($ in millions)	Operating Leases	Finance Leases
2025	$144	$2
2026	119	2
2027	89	2
2028	72	1
2029	55	1
Thereafter	174	—
Total lease payments	$653	$8
Less: Interest	73	1
Total lease obligations	$580	$7

Schedule of Maturities of Lease Liabilities, Finance Lease

As of December 31, 2024, maturities of lease liabilities were as follows:

($ in millions)	Operating Leases	Finance Leases
2025	$144	$2
2026	119	2
2027	89	2
2028	72	1
2029	55	1
Thereafter	174	—
Total lease payments	$653	$8
Less: Interest	73	1
Total lease obligations	$580	$7