LEASES (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Lease, Cost

The components of lease expense were as follows:

TABLE 8.1

	Three Months Ended March 31,
(dollars in millions)	2022		2021
Operating lease cost	$	8	$	7
Variable lease cost	1		1
Total lease cost	$	9	$	8

Leases, Other Information

Other information related to leases is as follows:

TABLE 8.2

	Three Months Ended March 31,
(dollars in millions)	2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7		$	7
Operating cash flows from finance leases	$	—		$	—
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	2		$	—
Finance leases	$	4		$	—
Weighted average remaining lease term (years):
Operating leases	9.69			9.39
Finance leases	23.08			0
Weighted average discount rate:
Operating leases	2.4		%	2.6		%
Finance leases	2.0		%	—		%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities were as follows:

TABLE 8.3

(in millions)	Operating Leases		Finance Leases		Total Leases
March 31, 2022
2022	$	20	$	—	$	20
2023	23		1		24
2024	21		1		22
2025	15		1		16
2026	12		1		13
Later years	75		16		91
Total lease payments	166		20		186
Less: imputed interest	(20)		(4)		(24)
Present value of lease liabilities	$	146	$	16	$	162

Finance Lease, Liability, Fiscal Year Maturity

Maturities of lease liabilities were as follows:

TABLE 8.3

(in millions)	Operating Leases		Finance Leases		Total Leases
March 31, 2022
2022	$	20	$	—	$	20
2023	23		1		24
2024	21		1		22
2025	15		1		16
2026	12		1		13
Later years	75		16		91
Total lease payments	166		20		186
Less: imputed interest	(20)		(4)		(24)
Present value of lease liabilities	$	146	$	16	$	162