Leases (Tables)

12 Months Ended

Dec. 31, 2022


	Successor					Predecessor
	For the year ended		For the eight months			For the four months		For the year ended
	December 31,		ended December 31,			ended April 30,		December 31,
($ in millions)	2022		2021			2021		2020

Lease cost:
Finance lease cost:
Amortization of right-of-use assets	$	19	$	13	$	7	$	15
Interest on lease liabilities		9		6		4		13
Finance lease cost		28		19		11		28
Operating lease cost ⁽¹⁾		62		38		19		68
Sublease income		(12)		(11)		(4)		(11)
Total lease cost	$	78	$	46	$	26	$	85

⁽¹⁾Includes short-term lease costs of $3 million for the year ended December 31, 2022, $1 million for the four months ended April 30, 2021, and $2 million for the eight months ended December 31, 2021. Includes variable lease costs of $5 million for the year ended December 31, 2022, $2 million for the four months ended April 30, 2021, and $4 million for the eight months ended December 31, 2021.

Supplemental Balance Sheet Information Related To Leases



($ in millions)	December 31, 2022			December 31, 2021

Operating right-of-use assets	$	187	⁽¹⁾	$	200	⁽¹⁾
Finance right-of-use assets	$	121	⁽²⁾	$	129	⁽²⁾

Operating lease liabilities	$	213	⁽³⁾	$	204	⁽³⁾
Finance lease liabilities	$	133	⁽⁴⁾	$	148	⁽⁴⁾

Operating leases:
Weighted-average remaining lease term		8.42	years		8.02	years
Weighted-average discount rate		5.87	%		5.89	%

Finance leases:
Weighted-average remaining lease term		12.81	years		12.74	years
Weighted-average discount rate		8.53	%		8.24	%

⁽¹⁾Operating ROU assets are included in Other assets on our consolidated balance sheet.

⁽²⁾Finance ROU assets are included in Property, plant, and equipment on our December 31, 2022 consolidated balance sheets.

⁽³⁾This amount represents $42 million and $171 million, and $41 million and $163 million, included in other current liabilities and other liabilities, respectively, on our December 31, 2022 and 2021 consolidated balance sheets.

⁽⁴⁾This amount represents $18 million and $115 million, and $20 million and $128 million, included in other current liabilities and other liabilities, respectively, on our December 31, 2022 and 2021 consolidated balance sheets.

Supplemental Cash Flow Information Related To Leases


		Successor				Predecessor
		For the year ended	For the eight months			For the four months		For the year ended
		December 31,	ended December 31,			ended April 30,		December 31,
($ in millions)		2022	2021			2021		2020

Cash paid for amount included in the measurement
of lease liabilities, net of amounts received as
revenue:
Operating cash flows provided by operating leases	$	63	$	63	$	21	$	67
Operating cash flows used by operating leases	$	(62)	$	(38)	$	(14)	$	(68)
Operating cash flows used by finance leases	$	(9)	$	(6)	$	(5)	$	(13)
Financing cash flows used by finance leases	$	(19)	$	(13)	$	(7)	$	(23)

Right-of-use assets obtained in exchange for lease
liabilities:
Operating leases	$	44	$	10	$	8	$	28
Finance leases	$	4	$	25	$	-	$	3

Maturity Analysis For Operating And Finance Lease Liabilities



	Successor
		Operating		Finance
($ in millions)		Leases		Leases
Future maturities:
2023	$	39	$	27
2024		36		21
2025		32		18
2026		29		15
2027		24		11
Thereafter		77		99
Total lease payments		237		191
Less: imputed interest		(24)		(58)
Present value of lease liabilities	$	213	$	133

Maturity Analysis For Operating Leases From Customers



	Successor
	Operating
($ in millions)	Lease Payments
Future maturities of lease payments from customers:
2023	$	10
2024		8
2025		1
2026		-
2027		-
Thereafter		-
Total lease payments from customers	$	19