LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense were as follows:

	For the Year Ended December 31, 2023
(In millions)	Vehicles		Buildings		Other		Total
Operating lease costs(1)	$	60	$	5	$	14	$	79
Finance lease costs:
Amortization of right-of-use assets	4		2		2		8
Interest on lease liabilities	—		5		—		5
Total finance lease cost	4		7		2		13
Total lease cost	$	64	$	12	$	16	$	92

(1) Includes $27 million of short-term lease costs.

	For the Year Ended December 31, 2022
(In millions)	Vehicles		Buildings		Other		Total
Operating lease costs(1)	$	50	$	8	$	15	$	73
Finance lease costs:
Amortization of right-of-use assets	10		1		2		13
Interest on lease liabilities	—		3		—		3
Total finance lease cost	10		4		2		16
Total lease cost	$	60	$	12	$	17	$	89

(1) Includes $19 million of short-term lease costs.

	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.

Supplemental cash flow information related to leases was as follows:

	For the Years Ended December 31,
(In millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	54	$	56	$	64
Operating cash flows from finance leases	3		3		4
Finance cash flows from finance leases	8		12		13
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	13	$	26	$	60
Finance leases	—		—		5

Maturities of lease liabilities as of December 31, 2023, were as follows:

(In millions)	Operating Leases		Finance Leases		Total
2024	$	54	$	4	$	58
2025	47		4		51
2026	43		4		47
2027	37		3		40
2028	33		4		37
Thereafter	47		—		47
Total lease payments(1)	261		19		280
Less imputed interest	35		5		40
Total net present value	$	226	$	14	$	240

(1) Operating lease payments for certain leases are offset by sublease receipts of $8 million over 9 years.

Schedule of Assets and Liabilities, Lessee

Lease terms and discount rates were as follows:

	As of December 31,
	2023		2022		2021
Weighted-average remaining lease terms (years)
Operating leases	5.93		7.30		7.97
Finance leases	12.26		11.33		8.12
Weighted-average discount rate(1)
Operating leases	4.51	%	4.22	%	4.16	%
Finance leases	14.73	%	14.77	%	12.22	%

(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	2023		2022
Assets
Operating lease(1)	Deferred charges and other assets	$	205	$	262
Finance lease(2)	Property, plant and equipment	35		45
Total leased assets		$	240	$	307
Liabilities
Current:
Operating	Other current liabilities	$	47	$	48
Finance	Currently payable long-term debt	3		6
Noncurrent:
Operating	Other noncurrent liabilities	179		247
Finance	Long-term debt and other long-term obligations	11		17
Total leased liabilities		$	240	$	318

(1) Operating lease assets are recorded net of accumulated amortization of $139 million and $114 million as of December 31, 2023 and 2022, respectively.

(2) Finance lease assets are recorded net of accumulated amortization of $33 million and $60 million as of December 31, 2023 and 2022, respectively.

Schedule of Maturity of Operating Lease Liabilities

Maturities of lease liabilities as of December 31, 2023, were as follows:

(In millions)	Operating Leases		Finance Leases		Total
2024	$	54	$	4	$	58
2025	47		4		51
2026	43		4		47
2027	37		3		40
2028	33		4		37
Thereafter	47		—		47
Total lease payments(1)	261		19		280
Less imputed interest	35		5		40
Total net present value	$	226	$	14	$	240

(1) Operating lease payments for certain leases are offset by sublease receipts of $8 million over 9 years.

Schedule of Maturity of Finance Lease Liabilities

Maturities of lease liabilities as of December 31, 2023, were as follows:

(In millions)	Operating Leases		Finance Leases		Total
2024	$	54	$	4	$	58
2025	47		4		51
2026	43		4		47
2027	37		3		40
2028	33		4		37
Thereafter	47		—		47
Total lease payments(1)	261		19		280
Less imputed interest	35		5		40
Total net present value	$	226	$	14	$	240

(1) Operating lease payments for certain leases are offset by sublease receipts of $8 million over 9 years.