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Note 7 - Leases

12 Months Ended

Dec. 31, 2022

Lessee, Finance Leases and Operating Leases [Text Block]

Our leases generally have remaining lease terms of one year to twenty years, some of which include options to extend the leases for up to forty years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet. Short-term lease costs were insignificant as of December 31, 2022 and 2021.

	Classification	2022		2021
Finance lease right-of-use assets	Property, plant and equipment, net	$	57	$	64
Finance lease liabilities	Current portion of long-term debt		8		8
Finance lease liabilities	Long-term debt		43		47

Components of lease expense —

	2022		2021		2020
Operating lease cost	$	58	$	53	$	52
Finance lease cost:
Amortization of right-of-use assets	$	9	$	8	$	5
Interest on lease liabilities		2		2		2
Total finance lease cost	$	11	$	10	$	7

Supplemental cash flow information related to leases —

	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	60	$	53	$	52
Operating cash flows from finance leases		2		2		2
Financing cash flows from finance leases		9		7		4
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	111	$	105	$	57
Finance leases		6		3		32

Supplemental balance sheet information related to leases —

	2022			2021
Weighted-average remaining lease term (years):
Operating leases		10			10
Finance leases		12			13
Weighted-average discount rate:
Operating leases		6.9	%		6.3	%
Finance leases		4.5	%		4.5	%

Maturities —

	Operating Leases		Finance Leases
2023	$	54	$	9
2024		51		8
2025		47		7
2026		42		6
2027		37		6
Thereafter		222		35
Total lease payments		453		71
Less: interest		140		19
Present value of lease liabilities	$	313	$	52

Operating lease payments presented in the table above exclude minimum lease payments for real estate leases signed in 2022 but not yet commenced. These leases are de minimis and are expected to commence in 2023.