Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease Costs and Other Information

The following table presents lease cost and other information (in millions):

	Year ended December 31,
	2022			2021			2020
Lease cost
Operating lease cost	$	41		$	43		$	43
Variable lease cost		27			7			2
Sublease income		(1	)		(1	)		(1	)
Total lease cost	$	67		$	49		$	44
Other information
Operating cash flows used for operating leases	$	41		$	43		$	43
Weighted-average remaining lease term - operating leases	47 years			48 years			49 years
Weighted-average discount rate - operating leases		5.3	%		5.3	%		5.3	%

Reconciliation of Total Lease Payments, on Undiscounted Basis, to Lease Liability on Balance Sheet

The following table presents a reconciliation of the total amount of lease payments, on an undiscounted basis, to the lease liability on the balance sheet as of December 31, 2022 (in millions):

	As of December 31, 2022
	Ground Leases			Office Leases and Other			Total
Weighted-average discount rate - operating leases		5.3	%		3.8	%		5.3	%
2023	$	31		$	7		$	38
2024		31			6			37
2025		31			6			37
2026		31			5			36
2027		31			4			35
Thereafter		1,372			43			1,415
Total undiscounted cash flows	$	1,527		$	71		$	1,598
Present values
Long-term lease liabilities	$	515		$	53		$	568
Total lease liabilities	$	515		$	53		$	568
Difference between undiscounted cash flows and discounted cash flows	$	1,012		$	18		$	1,030