LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule Of Lease By Asset Type

The Company's assets and liabilities for its lease agreements as of December 31, 2023 and 2022 were as follows:

Leases	Balance Sheet Classification	2023		2022
Assets
Operating	Operating lease right-of-use assets	$	602	$	585
Finance	Property, plant and equipment, net (a)	6		9
Total lease assets		$	608	$	594
Liabilities
Current:
Operating	Current portion of long-term operating lease liabilities	$	153	$	153
Finance	Current portion of long-term debt	1		2
Non-current:
Operating	Long-term operating lease liabilities	503		489
Finance	Long-term debt	6		7
Total lease liabilities		$	663	$	651

(a) Finance lease assets as of December 31, 2023 and 2022 were recorded net of accumulated amortization of $5 million and $3 million, respectively.

Lease, Cost

Components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows:

Lease cost	2023		2022		2021
Operating lease cost (a)	$	353	$	345	$	321
Finance lease cost:
Amortization of leased assets	2		2		2
Interest on lease liabilities	—		1		2
Net lease cost	$	355	$	348	$	325

(a) Includes short-term leases and variable lease costs (primarily usage-based maintenance fees and utilities related to real estate leases and certain equipment-related and vehicle-related costs) of $161 million, $160 million and $140 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Operating Lease, Liability, Maturity

The maturity of the Company's lease liabilities as of December 31, 2023 is as follows:

Maturity of lease liabilities	Operating leases		Finance leases		Total
2024	$	173	$	2	$	175
2025	145		2		147
2026	115		2		117
2027	92		1		93
2028	69		1		70
Thereafter	141		—		141
Total lease payments	735		8		743
Less: Interest	79		1		80
Present value of lease liabilities	$	656	$	7	$	663

Finance Lease, Liability, Maturity

The maturity of the Company's lease liabilities as of December 31, 2023 is as follows:

Maturity of lease liabilities	Operating leases		Finance leases		Total
2024	$	173	$	2	$	175
2025	145		2		147
2026	115		2		117
2027	92		1		93
2028	69		1		70
Thereafter	141		—		141
Total lease payments	735		8		743
Less: Interest	79		1		80
Present value of lease liabilities	$	656	$	7	$	663

Schedule of Lease Term and Discount Rate

Lease term and discount rate as of December 31, 2023 and 2022 were as follows:

Lease term and discount rate	2023		2022
Weighted-average remaining lease term (years):
Operating leases	6		6
Finance leases	5		6
Weighted-average discount rate:
Operating leases	4.0	%	3.0	%
Finance leases	2.4	%	2.4	%