LEASES (Notes)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Lessee, Operating And Finance Leases

LEASES

For additional information on the Corporation's leases, see Note 15 to the Consolidated Financial Statements included in the 2021 10-K.

The components of lease cost for operating and finance leases for the three months ended March 31, 2022 and 2021 were as follows:

Lease Cost	Three Months Ended
In millions	Mar 31, 2022		Mar 31, 2021
Operating lease cost	$	6	$	5
Short-term lease cost	8		6
Variable lease cost	4		2
Amortization of right-of-use assets - finance	1		—
Total lease cost	$	19	$	13

The following table provides supplemental cash flow information related to leases:

Other Lease Information	Three Months Ended
In millions	Mar 31, 2022		Mar 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	6	$	5
Financing cash flows for finance leases	$	1	$	—

The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at March 31, 2022 and December 31, 2021:

Lease Position	Balance Sheet Classification	Mar 31, 2022		Dec 31, 2021
In millions
Assets
Operating lease assets	Operating lease right-of-use assets	$	117	$	122
Finance lease assets	Property	19		19
Finance lease amortization	Accumulated depreciation	(12)		(11)
Total lease assets		$	124	$	130
Liabilities
Current
Operating	Operating lease liabilities - current	$	20	$	20
Finance	Long-term debt due within one year	3		3
Noncurrent
Operating	Operating lease liabilities - noncurrent	98		103
Finance	Long-term debt	5		6
Total lease liabilities		$	126	$	132

The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at March 31, 2022 and December 31, 2021 are provided below:

Lease Term and Discount Rate	Mar 31, 2022		Dec 31, 2021
Weighted-average remaining lease term
Operating leases	6.9 years		7.1 years
Finance leases	2.9 years		3.1 years
Weighted-average discount rate
Operating leases	3.20	%	3.17	%
Finance leases	2.60	%	2.53	%

The following table provides the maturities of lease liabilities at March 31, 2022:

Maturities of Lease Liabilities	Mar 31, 2022
	Operating Leases		Finance Leases
In millions
2022	$	18	$	2
2023	22		3
2024	22		2
2025	20		1
2026	19		—
2027 and thereafter	30		—
Total future undiscounted lease payments	$	131	$	8
Less: Imputed interest	13		—
Total present value of lease liabilities	$	118	$	8