Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of lease-related assets and liabilities

The following table presents our lease-related assets and liabilities at December 31, 2023 and 2022 (dollars in millions):

	Balance Sheet Classification	2023			2022
Assets:
Operating leases	Right-of-use operating lease assets	$	2,207		$	2,065
Finance leases	Property and equipment		556			587
Total lease assets		$	2,763		$	2,652
Liabilities:
Current:
Operating leases	Other accrued expenses	$	363		$	364
Finance leases	Long-term debt due within one year		166			131
Noncurrent:
Operating leases	Right-of-use operating lease obligations		1,903			1,752
Finance leases	Long-term debt		541			579
Total lease liabilities		$	2,973		$	2,826
Weighted-average remaining term:
Operating leases		11.8 years			10.1 years
Finance leases		9.0 years			9.5 years
Weighted-average discount rate:
Operating leases			4.9	%		4.4	%
Finance leases			4.9	%		4.5	%

Schedule of lease expense for finance and operating leases

	2023		2022		2021
Finance lease expense:
Depreciation and amortization	$	164	$	163	$	135
Interest		31		29		29
Operating leases(1)		495		484		478
Short-term lease expense(1)		337		329		354
Variable lease expense(1)		162		163		157
	$	1,189	$	1,168	$	1,153

Expenses are included in “other operating expenses” in our consolidated income statements.

Schedule of supplemental cash flow information

The following table presents supplemental cash flow information for the years ended December 31, 2023, 2022 and 2021 (dollars in millions):

	2023		2022		2021
Cash paid for amounts included in the measurement of lease   liabilities:
Operating cash flows for operating leases	$	479	$	473	$	474
Operating cash flows for finance leases		31		29		29
Financing cash flows for finance leases		140		124		123

NOTE 9 — LEASES (continued)

Schedule of undiscounted cash flows to the finance lease liabilities and operating lease liabilities recorded on balance sheet

The following table reconciles the undiscounted minimum lease payment amounts to the operating and finance lease liabilities recorded on the balance sheet at December 31, 2023 and 2022 (dollars in millions):

	2023						2022
	Operating Leases			Finance Leases			Operating Leases			Finance Leases
Year 1	$	452		$	193		$	436		$	156
Year 2		394			155			380			164
Year 3		340			115			320			125
Year 4		288			60			269			89
Year 5		228			45			222			39
Thereafter		1,540			356			1,122			359
Total minimum lease payments		3,242			924			2,749			932
Less: amount of lease payments representing interest		(976	)		(217	)		(633	)		(222	)
Present value of future minimum lease payments		2,266			707			2,116			710
Less: current lease obligations		(363	)		(166	)		(364	)		(131	)
Long-term lease obligations	$	1,903		$	541		$	1,752		$	579