LEASE COMMITMENTS

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

LEASE COMMITMENTS

LEASE COMMITMENTS

The Company has operating leases, substantially all of which relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the consolidated financial statements. Certain of the Company’s leases include options to renew, with renewal terms that can extend the lease term from one year to 20 years at the Company’s discretion.

The following table presents the components of the Company’s lease cost:

	Three Months Ended March 31,
	2022		2021
Operating lease cost	$	27	$	24
Sublease income	(2)		(1)
Variable lease cost	5		5
Total lease cost	$	30	$	28

The following tables present other information related to the Company’s operating leases:

	Three Months Ended March 31,
	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	31	$	28
Right-of-use assets obtained in exchange for new operating lease liabilities	$	15	$	4

	March 31, 2022		March 31, 2021
Weighted-average remaining lease term	5.5 years		5.9 years
Weighted-average discount rate applied to operating leases	3.1	%	3.6	%

The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at March 31, 2022:

Year Ending December 31,	Operating Leases
2022 (After March 31)	$	91
2023	119
2024	111
2025	96
2026	77
After 2026	99
Total lease payments (undiscounted)	593
Less: Interest	47
Present value of lease liabilities:	$	546
Lease liabilities - current	$	106
Lease liabilities - noncurrent	$	440