Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Leases

The Company has operating leases primarily for corporate offices, technical and engineering centers, plants, vehicles, and certain equipment. As of December 31, 2022 and 2021 assets and related accumulated depreciation recorded under finance leasing arrangements were not material.

Certain of the Company's lease agreements include rental payments adjusted periodically primarily for inflation. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company subleases certain real estate to third parties, which primarily consists of operating leases in the United States, Germany, and Brazil.

For the years ended December 31, 2022 and 2021, the weighted average remaining lease term and discount rate were 5 years and 4.03% and 6 years and 4.01%, respectively.

The components of lease expense are as follows:

	Year Ended December 31,
(In millions)	2022		2021		2020
Operating lease expense (includes immaterial variable lease costs)	$	(36)	$	(42)	$	(42)
Short-term lease expense	(1)		(1)		(1)
Sublease income	2		5		5
Total lease expense	$	(35)	$	(38)	$	(38)

Other information related to leases is as follows:

	Year Ended December 31,
(In millions)	2022		2021
Cash flows used for operating leases	$	33	$	37
Right-of-use assets obtained in exchange for lease obligations	$	17	$	6

Future minimum lease payments under non-cancellable leases are as follows:

(In millions)
2023	$	33
2024	29
2025	25
2026	22
2027	12
2027 and thereafter	23
Total future minimum lease payments	144
Less imputed interest	(16)
Total lease liabilities	$	128