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LEASES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Short-term lease cost $ 41 $ 31 $ 28
Variable lease cost 25 19 39
Amortization of right-of-use assets - finance 3 3 3
Total lease cost 94 78 93
Operating cash flows for operating leases 24 25 23
Financing cash flows for finance leases 3 3 3
Right-of-use assets obtained in exchange for lease obligations: 12 2 15
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 2 1 5
Operating lease assets 85 107  
Total lease assets 87 114  
Operating lease liabilities - current 17 21  
Operating lease liabilities - noncurrent 68 87  
Total lease liabilities $ 88 $ 115  
Operating Lease, Weighted Average Remaining Lease Term 6 years 8 months 12 days 6 years 3 months 18 days  
Finance Lease, Weighted Average Remaining Lease Term 3 years 9 months 18 days 2 years 6 months  
Operating Lease, Weighted Average Discount Rate, Percent 3.42% 3.43%  
Finance Lease, Weighted Average Discount Rate, Percent 4.38% 2.33%  
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year $ 19    
Finance Lease, Liability, Payments, Due Next Twelve Months 1    
Lessee, Operating Lease, Liability, Payments, Due Year Two 18    
Finance Lease, Liability, Payments, Due Year Two 1    
Lessee, Operating Lease, Liability, Payments, Due Year Three 17    
Finance Lease, Liability, Payments, Due Year Three 1    
Lessee, Operating Lease, Liability, Payments, Due Year Four 11    
Finance Lease, Liability, Payments, Due Year Four 0    
Lessee, Operating Lease, Liability, Payments, Due Year Five 10    
Finance Lease, Liability, Payments, Due Year Five 0    
Lessee, Operating Lease, Liability, Payments, Due after Year Five 20    
Finance Lease, Liability, Payments, Due after Year Five 0    
Lessee, Operating Lease, Liability, Payments, Due 95    
Finance Lease, Liability, Payment, Due 3    
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 10    
Finance Lease, Liability, Undiscounted Excess Amount 0    
Operating lease, liability 85    
Finance Lease, Liability 3    
Lessee, Additional Leases Not yet Commenced, Assumptions and Judgment, Amount 0    
Operating Lease, Cost $ 25 $ 25 $ 23
Lessee, Operating And Finance Leases LEASES
Operating lease ROU assets are included in "Operating lease right-of-use assets" and finance lease ROU assets are included in "Net property" in the consolidated balance sheets. With respect to lease liabilities, operating lease liabilities are included in "Operating lease liabilities - current" and "Operating lease liabilities - noncurrent," and finance lease liabilities are included in "Long-term debt due within one year" and "Long-Term Debt" in the consolidated balance sheets.

The Corporation routinely leases product and utility production facilities, sales and administrative offices, warehouses and tanks for product storage, motor vehicles, railcars, office machines and equipment. Some leases contain renewal provisions, purchase options and escalation clauses. The terms for these leased assets vary depending on the lease agreement. These leased assets have remaining lease terms of up to 21 years. The Corporation's lease agreements do not contain any material residual value guarantees or restrictive covenants.

The components of lease cost for operating and finance leases for the years ended December 31, 2023, 2022 and 2021 were as follows:

Lease Cost202320222021
In millions
Operating lease cost$25 $25 $23 
Short-term lease cost41 31 28 
Variable lease cost25 19 39 
Amortization of right-of-use assets - finance3 3 3 
Total lease cost$94 $78 $93 

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

Other Lease Information202320222021
In millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$24 $25 $23 
Financing cash flows for finance leases$3 $3 $3 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $12 $2 $15 
Finance leases$2 $1 $5 
The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at December 31, 2023 and 2022:

Lease PositionBalance Sheet ClassificationDec 31, 2023Dec 31, 2022
In millions
Assets
Operating lease assetsOperating lease right-of-use assets$85 $107 
Finance lease assetsProperty14 20 
Finance lease amortizationAccumulated depreciation(12)(13)
Total lease assets$87 $114 
Liabilities
Current
OperatingOperating lease liabilities - current$17 $21 
FinanceLong-term debt due within one year1 3 
Noncurrent
OperatingOperating lease liabilities - noncurrent68 87 
FinanceLong-Term Debt2 4 
Total lease liabilities$88 $115 

The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at December 31, 2023 and 2022 are provided below:

Lease Term and Discount RateDec 31, 2023Dec 31, 2022
Weighted-average remaining lease term
Operating leases6.7 years6.3 years
Finance leases3.8 years2.5 years
Weighted-average discount rate
Operating leases3.42 %3.43 %
Finance leases4.38 %2.33 %

The following table provides the maturities of lease liabilities at December 31, 2023:

Maturities of Lease LiabilitiesDec 31, 2023
In millionsOperating LeasesFinance Leases
2024
$19 $1 
202518 1 
202617 1 
202711 — 
202810 — 
2029 and thereafter 20 — 
Total future undiscounted lease payments$95 $3 
Less: Imputed interest10 — 
Total present value of lease liabilities$85 $3 

At December 31, 2023, the Corporation had no additional leases for assets that have not yet commenced.
    
Property, Plant and Equipment      
Finance Lease, Right-of-Use Asset, before Accumulated Amortization $ 14 20  
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment      
Finance Lease, Right-of-Use Asset, Accumulated Amortization 12 13  
Long-Term Debt Due Within One Year      
Finance Lease, Liability 1 3  
Long-term Debt and Lease Obligation      
Finance Lease, Liability $ 2 $ 4  
Maximum [Member]      
Lessee, Operating and Finance Leases, Remaining Lease Term 21 years