LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

LEASES

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:

		Year Ended December 31,
(in millions, except percentages)	Location in the Consolidated Balance Sheets	2023			2022
Assets
Finance leases	Property, plant, and equipment, net	$	1		$	1
Operating leases	Operating lease right-of-use assets, net	178			200
Total right-of-use assets		$	179		$	201
Liabilities
Current liabilities
Finance leases	Notes payable and current portion of long-term debt	$	—		$	1
Operating leases	Accrued liabilities	56			54
Noncurrent liabilities
Finance leases	Long-term debt	1			1
Operating leases	Operating lease liabilities	125			149
Total lease liabilities		$	182		$	205
Supplemental information:
Weighted-average discount rate
Finance leases		4.2		%	3.5		%
Operating leases		3.9		%	3.5		%
Weighted-average remaining lease term in years
Finance leases		5.2			4.1
Operating leases		4.5			5.1

The lease cost recognized in the Consolidated Statements of Operations were as follows:

	Year Ended December 31,
(in millions)	2023		2022
Operating lease cost	$	67	$	68
Short-term lease cost	—		1
Variable lease cost	15		12
Total lease cost	$	82	$	81

The contractual maturity dates of the remaining lease liabilities as of December 31, 2023 were as follows:

(in millions)	Finance Leases		Operating Leases		Total
2024	$	—	$	62	$	62
2025	1		45		46
2026	—		32		32
2027	—		21		21
2028	—		16		16
2029 and beyond	—		23		23
Total lease payments	$	1	$	199	$	200
Less imputed interest	—		18		18
Present value of lease liabilities	$	1	$	181	$	182

The supplemental cash flow information for leases were as follows:

	Year Ended December 31,
(in millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	68	$	66	$	65
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	$	—	$	—	$	1
Operating leases	36		57		79

Leases

LEASES

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:

		Year Ended December 31,
(in millions, except percentages)	Location in the Consolidated Balance Sheets	2023			2022
Assets
Finance leases	Property, plant, and equipment, net	$	1		$	1
Operating leases	Operating lease right-of-use assets, net	178			200
Total right-of-use assets		$	179		$	201
Liabilities
Current liabilities
Finance leases	Notes payable and current portion of long-term debt	$	—		$	1
Operating leases	Accrued liabilities	56			54
Noncurrent liabilities
Finance leases	Long-term debt	1			1
Operating leases	Operating lease liabilities	125			149
Total lease liabilities		$	182		$	205
Supplemental information:
Weighted-average discount rate
Finance leases		4.2		%	3.5		%
Operating leases		3.9		%	3.5		%
Weighted-average remaining lease term in years
Finance leases		5.2			4.1
Operating leases		4.5			5.1

The lease cost recognized in the Consolidated Statements of Operations were as follows:

	Year Ended December 31,
(in millions)	2023		2022
Operating lease cost	$	67	$	68
Short-term lease cost	—		1
Variable lease cost	15		12
Total lease cost	$	82	$	81

The contractual maturity dates of the remaining lease liabilities as of December 31, 2023 were as follows:

(in millions)	Finance Leases		Operating Leases		Total
2024	$	—	$	62	$	62
2025	1		45		46
2026	—		32		32
2027	—		21		21
2028	—		16		16
2029 and beyond	—		23		23
Total lease payments	$	1	$	199	$	200
Less imputed interest	—		18		18
Present value of lease liabilities	$	1	$	181	$	182

The supplemental cash flow information for leases were as follows:

	Year Ended December 31,
(in millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	68	$	66	$	65
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	$	—	$	—	$	1
Operating leases	36		57		79