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Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases
We are a party to operating and finance leases primarily for our corporate and health plan offices. Our operating leases have remaining lease terms up to 13 years, some of which include options to extend the leases for up to 10 years. As of December 31, 2022, the weighted average remaining operating lease term is 8 years.
Our finance leases have remaining lease terms up to 16 years, some of which include options to extend the leases for up to 25 years. As of December 31, 2022, the weighted average remaining finance lease term is 13 years.
As discussed in Note 2, “Significant Accounting Policies”, the Company recognized $192 million of ROU asset impairments associated with our reduction in leased space used in our business operations in the quarter ended December 31, 2022.
As of December 31, 2022, the weighted-average discount rate used to compute the present value of lease payments was 4.4% for operating lease liabilities, and 6.3% for finance lease liabilities. The components of lease expense for the years ended December 31, 2022, 2021, and 2020 are presented in the following table.
Year Ended December 31,
202220212020
(In millions)
Operating lease expense$31 $34 $28 
Finance lease expense:
Amortization of ROU assets$28 $25 $19 
Interest on lease liabilities15 15 15 
Total finance lease expense$43 $40 $34 
Supplemental consolidated cash flow information related to leases follows:
Year Ended December 31,
202220212020
(In millions)
Cash used in operating activities:
Operating leases$31 $33 $30 
Finance leases15 15 15 
Cash used in financing activities:
Finance leases15 18 9 
ROU assets recognized in exchange for lease obligations:
Operating leases10 86 28 
Finance leases18 18 7 
Supplemental information related to leases, including location of amounts reported in the accompanying consolidated balance sheets, follows:
December 31,
20222021
(In millions)
Operating leases:
ROU assets
Other assets$43 $128 
Lease liabilities
Accounts payable and accrued liabilities (current)$41 $35 
Other long-term liabilities (non-current)77 99 
Total operating lease liabilities$118 $134 
Finance leases:
ROU assets
Property, equipment, and capitalized software, net$72 $206 
Lease liabilities
Accounts payable and accrued liabilities (current)$22 $15 
Finance lease liabilities (non-current)215 219 
Total finance lease liabilities
$237 $234 
Maturities of lease liabilities as of December 31, 2022, were as follows:
Operating Finance
LeasesLeases
(In millions)
2023$28 $34 
202422 30 
202518 26 
202611 23 
20279 24 
Thereafter55 219 
Subtotal - undiscounted lease payments143 356 
Less imputed interest(25)(119)
Total$118 $237 
Leases Leases
We are a party to operating and finance leases primarily for our corporate and health plan offices. Our operating leases have remaining lease terms up to 13 years, some of which include options to extend the leases for up to 10 years. As of December 31, 2022, the weighted average remaining operating lease term is 8 years.
Our finance leases have remaining lease terms up to 16 years, some of which include options to extend the leases for up to 25 years. As of December 31, 2022, the weighted average remaining finance lease term is 13 years.
As discussed in Note 2, “Significant Accounting Policies”, the Company recognized $192 million of ROU asset impairments associated with our reduction in leased space used in our business operations in the quarter ended December 31, 2022.
As of December 31, 2022, the weighted-average discount rate used to compute the present value of lease payments was 4.4% for operating lease liabilities, and 6.3% for finance lease liabilities. The components of lease expense for the years ended December 31, 2022, 2021, and 2020 are presented in the following table.
Year Ended December 31,
202220212020
(In millions)
Operating lease expense$31 $34 $28 
Finance lease expense:
Amortization of ROU assets$28 $25 $19 
Interest on lease liabilities15 15 15 
Total finance lease expense$43 $40 $34 
Supplemental consolidated cash flow information related to leases follows:
Year Ended December 31,
202220212020
(In millions)
Cash used in operating activities:
Operating leases$31 $33 $30 
Finance leases15 15 15 
Cash used in financing activities:
Finance leases15 18 9 
ROU assets recognized in exchange for lease obligations:
Operating leases10 86 28 
Finance leases18 18 7 
Supplemental information related to leases, including location of amounts reported in the accompanying consolidated balance sheets, follows:
December 31,
20222021
(In millions)
Operating leases:
ROU assets
Other assets$43 $128 
Lease liabilities
Accounts payable and accrued liabilities (current)$41 $35 
Other long-term liabilities (non-current)77 99 
Total operating lease liabilities$118 $134 
Finance leases:
ROU assets
Property, equipment, and capitalized software, net$72 $206 
Lease liabilities
Accounts payable and accrued liabilities (current)$22 $15 
Finance lease liabilities (non-current)215 219 
Total finance lease liabilities
$237 $234 
Maturities of lease liabilities as of December 31, 2022, were as follows:
Operating Finance
LeasesLeases
(In millions)
2023$28 $34 
202422 30 
202518 26 
202611 23 
20279 24 
Thereafter55 219 
Subtotal - undiscounted lease payments143 356 
Less imputed interest(25)(119)
Total$118 $237