LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Components of Lease Expense, Supplemental Cash and Noncash, Balance Sheet Information

The components of lease expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(In millions)
Operating lease expense	$	39	$	39	$	76	$	80
Sublease income	(3)		(2)		(6)		(4)
Total lease expense, net(1)	$	36	$	37	$	70	$	76

(1) During the three and six months ended June 30, 2024, finance lease expense was de minimis.

Supplemental cash flow information related to leases during the three and six months ended June 30, 2024 and 2023 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	42	$	43	$	85	$	86
Financing cash flows from finance leases	$	20	$	—	$	20	$	—
Right-of-use (“ROU”) lease assets obtained in exchange for new operating lease liabilities	$	134	$	23	$	277	$	22
ROU lease assets obtained in exchange for new finance lease liabilities	$	39	$	—	$	55	$	—
Other non-cash ROU lease asset activity(1)	$	—	$	(4)	$	—	$	(25)

(1) ROU lease asset impairment. Refer to “Note 17—Restructuring and Other” for further details.

Schedule of Assets and Liabilities, Lessee

Supplemental balance sheet information related to leases was as follows:

	June 30, 2024						December 31, 2023
	(In millions, except weighted-average figures)
	Operating leases(1)			Finance leases(2)			Operating leases(1)			Finance leases(2)
ROU lease assets	$	603		$	53		$	390		$	—
Current lease liabilities	129			20			144			—
Long-term lease liabilities	632			15			416			—
Total lease liabilities	$	761		$	35		$	560		$	—
Weighted-average remaining lease term	5.8 years			4.8 years			5.0 years			—
Weighted-average discount rate	4		%	5		%	4		%	—		%

(1) ROU assets for operating leases are included in “other assets” and lease liabilities for operating leases are included in “accrued expenses and other current liabilities” and “other long-term liabilities” on our condensed consolidated balance sheets.

(2) ROU assets for finance leases are included in “property and equipment, net” and lease liabilities for finance leases are included in “accrued expenses and other current liabilities” and “other long-term liabilities” on our condensed consolidated balance sheets.

Schedule of Future Minimum Operating Lease Payments

Future minimum lease payments for our leases as of June 30, 2024 were as follows:

	Operating leases		Finance leases
Fiscal years:	(In millions)
Remaining 2024	$	76	$	16
2025	162		6
2026	160		5
2027	139		5
2028	92		5
Thereafter	236		—
Total	$	865	$	37
Less: present value discount	(104)		(2)
Lease liability	$	761	$	35

Finance Lease, Liability, to be Paid, Maturity

Future minimum lease payments for our leases as of June 30, 2024 were as follows:

	Operating leases		Finance leases
Fiscal years:	(In millions)
Remaining 2024	$	76	$	16
2025	162		6
2026	160		5
2027	139		5
2028	92		5
Thereafter	236		—
Total	$	865	$	37
Less: present value discount	(104)		(2)
Lease liability	$	761	$	35