Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Operating Lease Costs and Supplemental Cash Flow Information

The following table summarizes the components of total operating lease costs, net and provides supplemental cash flow information related to leases:

Year Ended December 31,	2024		2023		2022
	(in millions)
Operating lease cost	$	66	$	42	$	49
Variable lease cost	27		25		33
Sublease income(1)	(50)		(33)		(39)
Total operating lease costs, net	$	43	$	34	$	43
Supplemental disclosure of cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	70	$	71	$	79
ROU assets recognized for new operating lease liabilities	65		337		2

(1)We have entered into agreements to sublease certain office space, including agreements to receive rental income from our affiliates. As lessee of the properties, we have entered into agreements with these affiliates to charge them rent based on the office space utilized by their employees during the period. See Note 24, "Related Party Transactions," for further disclosure.

Operating Lease ROU Assets and Liabilities

The following table presents information about our operating lease ROU assets and liabilities:

At December 31,	2024			2023
	(dollars are in millions)
Operating lease ROU assets(1)	$	521		$	495
Operating lease liabilities	516			488
Weighted-average remaining lease term	18.2 years			17.2 years
Weighted-average discount rate	5.4		%	5.1		%

(1)Reported inclusive of prepaid construction costs, net of level lease adjustments and accumulated impairment losses.

Maturity Analysis of Operating Lease Liabilities

The following table presents a maturity analysis of our operating lease liabilities at December 31, 2024:

Year Ending December 31,
	(in millions)
2025	$	51
2026	50
2027	47
2028	46
2029	44
Thereafter	598
Total future operating lease payments	836
Less - imputed interest	(320)
Total operating lease liabilities	$	516