LEASES AND COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Operating Lease Assets and Lease Liabilities

The following table presents the lease assets and lease liabilities as of December 31, 2023 and 2022:

		December 31,
(in millions)		2023		2022
Assets	Balance Sheet Location
Operating leases	Other non-current assets	$	143	$	106
Finance leases	Property, plant and equipment, net	25		8
Total lease assets		$	168	$	114
Liabilities
Current
Operating leases	Other current liabilities	$	37	$	22
Finance leases	Notes payable and other short-term debt	3		2
Non-current
Operating leases	Other non-current liabilities	112		85
Finance leases	Long-term debt	23		9
Total lease liabilities		$	175	$	118

Schedule of Lease, Cost

The following table presents lease obligations arising from obtaining leased assets for the years ended December 31, 2023 and 2022:

	December 31,
(in millions)	2023		2022
Operating leases	$	63	$	14
Finance leases	17		—
Total lease obligations	$	80	$	14

The following table presents the terms and discount rates:

	December 31,
	2023		2022
Weighted average remaining lease term (years)
Operating leases	8		6
Finance leases	8		5
Weighted average discount rate
Operating leases	5.4	%	3.1	%
Finance leases	6.2	%	2.5	%

Schedule of Maturity of Operating Lease Liabilities

The following table presents the maturity of lease liabilities as of December 31, 2023:

(in millions)	Operating leases		Finance leases
2024	$	37	$	3
2025	30		5
2026	23		4
2027	19		4
2028	14		5
After 2028	69		12
Total (undiscounted) lease payments	$	192	$	33
Less: Imputed interest	43		7
Present value of lease liabilities	$	149	$	26

Schedule of Maturity of Finance Lease Liabilities

The following table presents the maturity of lease liabilities as of December 31, 2023:

(in millions)	Operating leases		Finance leases
2024	$	37	$	3
2025	30		5
2026	23		4
2027	19		4
2028	14		5
After 2028	69		12
Total (undiscounted) lease payments	$	192	$	33
Less: Imputed interest	43		7
Present value of lease liabilities	$	149	$	26