LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows:

	For the Year Ended December 31, 2021
(In millions)	Vehicles		Buildings		Other		Total
Operating lease costs (1)	$	44	$	9	$	18	$	71
Finance lease costs:
Amortization of right-of-use assets	12		1		1		14
Interest on lease liabilities	1		3		—		4
Total finance lease cost	13		4		1		18
Total lease cost	$	57	$	13	$	19	$	89

(1) Includes $21 million of short-term lease costs.

	For the Year Ended December 31, 2020
(In millions)	Vehicles		Buildings		Other		Total
Operating lease costs (1)	$	35	$	8	$	17	$	60
Finance lease costs:
Amortization of right-of-use assets	14		—		1		15
Interest on lease liabilities	2		3		—		5
Total finance lease cost	16		3		1		20
Total lease cost	$	51	$	11	$	18	$	80

(1) Includes $17 million of short-term lease costs.

	For the Year Ended December 31, 2019
(In millions)	Vehicles		Buildings		Other		Total
Operating lease costs (1)	$	28	$	9	$	12	$	49
Finance lease costs:
Amortization of right-of-use assets	15		1		1		17
Interest on lease liabilities	3		3		—		6
Total finance lease cost	18		4		1		23
Total lease cost	$	46	$	13	$	13	$	72

(1) Includes $13 million of short-term lease costs.

Supplemental cash flow information related to leases was as follows:

	For the Years Ended December 31,
(In millions)	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	64	$	44	$	29
Operating cash flows from finance leases	4		4		5
Finance cash flows from finance leases	13		15		25
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	60	$	67	$	83
Finance leases	5		—		3

Maturities of lease liabilities as of December 31, 2021, were as follows:

(In millions)	Operating Leases		Finance Leases		Total
2022	$	54	$	16	$	70
2023	54		9		63
2024	48		5		53
2025	45		5		50
2026	41		5		46
Thereafter	133		8		141
Total lease payments (1)	375		48		423
Less imputed interest	65		12		77
Total net present value	$	310	$	36	$	346

(1) Operating lease payments for certain leases are offset by sublease receipts of $10 million over 11 years.

Assets and Liabilities, Lessee

Lease terms and discount rates were as follows:

	As of December 31,
	2021		2020		2019
Weighted-average remaining lease terms (years)
Operating leases	7.97		8.55		9.42
Finance leases	8.12		7.74		4.62
Weighted-average discount rate (1)
Operating leases	4.16	%	4.21	%	4.51	%
Finance leases	12.22	%	11.58	%	10.45	%

(1) When an implicit rate is not readily determinable, an incremental borrowing rate is utilized, determining the present value of lease payments. The rate is determined based on expected term and information available at the commencement date.

Supplemental balance sheet information related to leases was as follows:

		As of December 31,
(In millions)	Financial Statement Line Item	2021		2020
Assets
Operating lease (1)	Deferred charges and other assets	$	279	$	265
Finance lease (2)	Property, plant and equipment	48		57
Total leased assets		$	327	$	322
Liabilities
Current:
Operating	Other current liabilities	$	39	$	42
Finance	Currently payable long-term debt	13		14
Noncurrent:
Operating	Other noncurrent liabilities	271		263
Finance	Long-term debt and other long-term obligations	23		31
Total leased liabilities		$	346	$	350

(1) Operating lease assets are recorded net of accumulated amortization of $79 million and $51 million as of December 31, 2021 and 2020, respectively.

(2) Finance lease assets are recorded net of accumulated amortization of $95 million and $96 million as of December 31, 2021 and 2020, respectively.

Maturity of Operating Lease Liabilities

Maturities of lease liabilities as of December 31, 2021, were as follows:

(In millions)	Operating Leases		Finance Leases		Total
2022	$	54	$	16	$	70
2023	54		9		63
2024	48		5		53
2025	45		5		50
2026	41		5		46
Thereafter	133		8		141
Total lease payments (1)	375		48		423
Less imputed interest	65		12		77
Total net present value	$	310	$	36	$	346

(1) Operating lease payments for certain leases are offset by sublease receipts of $10 million over 11 years.

Maturity of Finance Lease Liabilities

Maturities of lease liabilities as of December 31, 2021, were as follows:

(In millions)	Operating Leases		Finance Leases		Total
2022	$	54	$	16	$	70
2023	54		9		63
2024	48		5		53
2025	45		5		50
2026	41		5		46
Thereafter	133		8		141
Total lease payments (1)	375		48		423
Less imputed interest	65		12		77
Total net present value	$	310	$	36	$	346

(1) Operating lease payments for certain leases are offset by sublease receipts of $10 million over 11 years.