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Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows:
June 30, 2023December 31, 2022
(In millions)
Operating Leases
Operating lease right-of-use assets$779 $656 
Operating lease liabilities$761 $656 
Finance Leases
Property and equipment, at cost104 87 
Accumulated depreciation(40)(31)
Property and equipment, net$64 $56 
Loans payable and other financial liabilities$62 $51 
Summary of Weighted Average Remaining Lease Term and Discount Rate
The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of June 30, 2023 and December 31, 2022:
June 30, 2023December 31, 2022
Weighted average remaining lease term
Operating leases7 Years8 Years
Finance leases3 Years3 Years
Weighted average discount rate (*)
Operating leases10 %10 %
Finance leases15 %16 %
(*)Includes discount rates of leases in local currency and U.S. dollar.
Components of Lease Expense
The components of lease expense were as follows:
Six Months Ended June 30,
20232022
(In millions)
Operating lease cost$88 $59 
Finance lease cost:
Depreciation of property and equipment10 
Interest on lease liabilities
Total finance lease cost $15 $12 
Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows:
Six Months Ended June 30,
20232022
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$80 $54 
Financing cash flows from finance leases13 
Assets obtained in exchange for lease obligations:
Operating leases$122 $115 
Finance leases15 
Maturities of Lease Liabilities
The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates to calculate the lease liabilities for the operating and finance leases:
Period Ending June 30, 2023 Operating LeasesFinance Leases
(In millions)
One year or less$173 $28 
One year to two years167 24 
Two years to three years146 17 
Three years to four years116 
Four years to five years105 
Thereafter367 — 
Total lease payments$1,074 $78 
Less imputed interest(313)(16)
Total$761 $62