The Hartford has operating leases for real estate and equipment. The right-of-use asset as of December 31, 2023 and 2022 was $141 and $135, respectively, and is included in property and equipment, net, in the Consolidated Balance Sheets. The lease liability as of December 31, 2023 and 2022 was $144 and $136, respectively, and is included in other liabilities in the Consolidated Balance Sheets. Variable lease costs include changes in interest rates on variable rate leases primarily for automobiles. During the years ended December 31, 2023, 2022 and 2021, variable lease costs of $0, $6 and $4, respectively, were reported in restructuring and other costs for lease terminations under Hartford Next (see Note 23 - Restructuring and Other Costs for more information), and were excluded from components of lease expense.

Components of Lease Expense


	For the years ended December 31,
	2023		2022		2021
Operating lease cost	$	36	$	40	$	45

Variable lease cost	(2)		—		2
Sublease income	(4)		(4)		(3)
Total lease costs included in insurance operating costs and other expenses	$	30	$	36	$	44

Supplemental Operating Lease Information


	For the years ended December 31,
	2023			2022			2021
Operating cash flows for operating leases (for the twelve months ended)	$	37		$	56		$	46
Right-of-use asset obtained in exchange for new operating lease liabilities	40			6			3
Weighted-average remaining lease term in years for operating leases	7 years			6 years			6 years
Weighted-average discount rate for operating leases	4.0		%	3.0		%	3.0		%

Maturities of Operating Lease Liabilities as of December 31, 2023


	Operating Leases
2024	$	33
2025	26
2026	22
2027	20
2028	16
Thereafter	49
Total lease payments	166
Less: Discount on lease payments to present value	22
Total lease liability	$	144