Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Operating Leases

The following table summarizes information related to our leases, all of which are classified as operating, included in our Consolidated Balance Sheets (in millions):

	December 31,
Consolidated Balance Sheets locations	2023		2022
Assets:
Other noncurrent assets	$	651	$	579
Liabilities:
Accrued liabilities	$	119	$	156
Other noncurrent liabilities	691		539
Total lease liabilities	$	810	$	695

The components of net lease costs were as follows (in millions):

	Years ended December 31,
Lease costs	2023		2022		2021
Operating(1)	$	208	$	218	$	237
Sublease income	(28)		(32)		(38)
Total net lease costs	$	180	$	186	$	199

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(1)    Includes short-term leases and variable lease costs, which were not material for the years ended December 31, 2023, 2022 and 2021.

The weighted-average remaining lease terms and weighted-average discount rates were as follows:

	December 31,
	2023		2022
Weighted-average remaining lease term (in years)	9.7		8.2
Weighted-average discount rate	3.6	%	2.7	%

Cash and noncash information related to our leases was as follows (in millions):

	Years ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	182	$	171	$	190
ROU assets obtained in exchange for lease obligations:
Operating leases	$	245	$	191	$	340

Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2023, were as follows (in millions):

Maturity dates	Amounts
2024	$	138
2025	121
2026	109
2027	95
2028	74
Thereafter	440
Total lease payments(1)	977
Less imputed interest	(167)
Present value of lease liabilities	$	810

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(1)    Includes future rental commitments for abandoned leases of $67 million. We expect to receive total future rental income of $70 million related to noncancellable subleases for abandoned facilities.