Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Components of Lease Cost

The components of lease cost are as follows:

years ended December 31 (in millions)	2024		2023		2022
Operating lease cost	$	76	$	77	$	73
Finance lease cost:
Amortization of right-of-use assets		26		21		18
Interest on lease liabilities		6		5		4
Variable lease cost		14		18		17
Short-term lease cost		46		46		45
Total lease cost	$	168	$	167	$	157

Summary of Balance Sheet Classifications of Operating and Finance Leases

The balance sheet classifications of operating and finance leases are as follows:

December 31 (in millions)	2024			2023
Operating leases:
Operating lease right-of-use assets	$	376		$	372
Current operating lease liabilities	$	56		$	53
Noncurrent operating lease liabilities		335			327
Total operating lease liabilities	$	391		$	380
Finance leases:
Property, plant and equipment	$	295		$	254
Accumulated depreciation		(83	)		(59	)
Property, plant and equipment, net	$	212		$	195
Other current liabilities	$	19		$	20
Other noncurrent liabilities		202			180
Total finance lease liabilities	$	221		$	200

Summary of Weighted-average Remaining Lease Terms and Discount Rates

Weighted-average remaining lease terms and discount rates are as follows:

December 31		2024		2023
Weighted-average remaining lease terms (years):
Operating leases	11.0		11.7
Finance leases	18.1		18.3
Weighted-average discount rates:
Operating leases	4.6%		4.3%
Finance leases	3.3%		2.6%

Summary of Future Lease Payments

Future lease payments as of December 31, 2024 are as follows:

	Operating			Finance
(in millions)	Leases			Leases
2025	$	72		$	26
2026		65			19
2027		53			18
2028		43			16
2029		38			15
Thereafter		234			202
Total lease payments		505			296
Less: imputed interest		(114	)		(75	)
Present value of lease payments		391			221
Less: current lease obligations		(56	)		(19	)
Total long-term lease obligations	$	335		$	202