LEASES (Notes)

9 Months Ended

Sep. 30, 2022

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 and nine months ended September 30, 2022 and 2021 were as follows:


Lease Cost	Three Months Ended				Nine Months Ended
In millions	Sep 30, 2022		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
Operating lease cost	$	6	$	5	$	18	$	17
Short-term lease cost	7		7		23		21
Variable lease cost	5		14		14		32

Amortization of right-of-use assets - finance	1		1		2		2

Total lease cost	$	19	$	27	$	57	$	72

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


Other Lease Information	Nine Months Ended
In millions	Sep 30, 2022		Sep 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	18	$	17

Financing cash flows for finance leases	$	2	$	2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	2	$	—
Finance leases	$	1	$	5

The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at September 30, 2022 and December 31, 2021:


Lease Position	Balance Sheet Classification	Sep 30, 2022		Dec 31, 2021
In millions
Assets
Operating lease assets	Operating lease right-of-use assets	$	110	$	122
Finance lease assets	Property	20		19
Finance lease amortization	Accumulated depreciation	(13)		(11)
Total lease assets		$	117	$	130
Liabilities
Current
Operating	Operating lease liabilities - current	$	21	$	20
Finance	Long-term debt due within one year	3		3
Noncurrent
Operating	Operating lease liabilities - noncurrent	91		103
Finance	Long-Term Debt	5		6
Total lease liabilities		$	120	$	132

The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at September 30, 2022 and December 31, 2021 are provided below:


Lease Term and Discount Rate	Sep 30, 2022		Dec 31, 2021
Weighted-average remaining lease term
Operating leases	6.5 years		7.1 years
Finance leases	2.7 years		3.1 years
Weighted-average discount rate
Operating leases	3.33	%	3.17	%
Finance leases	2.41	%	2.53	%

The following table provides the maturities of lease liabilities at September 30, 2022:


Maturities of Lease Liabilities	Sep 30, 2022
	Operating Leases		Finance Leases
In millions
2022	$	6	$	1
2023	24		3
2024	23		2
2025	21		2
2026	19		—
2027 and thereafter	31		—
Total future undiscounted lease payments	$	124	$	8
Less: Imputed interest	12		—
Total present value of lease liabilities	$	112	$	8