Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Leases

The components of lease expense are as follows:

	2023		2022		2021
Operating lease expense	$	63	$	59	$	58
Variable operating lease expense	26		27		26
Short term lease expense	3		3		4
Lease expense	$	92	$	89	$	88

We have operating leases for certain rail cars, office spaces, warehouses and machinery and equipment. We currently have no finance leases. The following is a reconciliation of future undiscounted cash flows to the operating lease liabilities and the related operating lease assets as presented within Other non-current liabilities and Other assets, respectively, on our Consolidated Balance Sheets as of December 31, 2023:

2024	$	63
2025	52
2026	45
2027	29
2028	14
Thereafter	31
Total future lease payments	234
Less imputed interest	21
Present value of future lease payments	213
Less current lease liabilities	56
Non-current operating lease liabilities	$	157
Operating lease assets	$	208

Supplemental cash flow information arising from lease transactions is as follows:

	Year Ended December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	64	$	60
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	72	$	52

	Year Ended December 31,
Lease term and discount rate	2023		2022
Weighted average remaining lease term	5.3 years		5.9 years
Weighted average discount rate	4.6	%	4.4	%