Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

LEASES

The Company has leases for corporate offices, manufacturing facilities, research and development facilities and certain transportation and office equipment. The Company’s leases have remaining lease terms of up to 50 years, some of which include options to extend the leases for up to 15 years.

The components of lease expense were as follows:

	Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
(DOLLARS IN MILLIONS)	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Operating lease cost	$	56	$	45	$	105	$	92
Finance lease cost	2		2		4		4

Supplemental cash flow information related to leases was as follows:

	Six Months Ended		Six Months Ended
(DOLLARS IN MILLIONS)	June 30, 2023		June 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	64	$	70
Financing cash flows for finance leases	4		3
Right-of-use assets obtained in exchange for lease obligations
Operating leases	57		144
Finance leases	6		2

Operating lease right-of-use assets are presented in “Operating lease right-of-use assets” and finance lease right-of-use assets are presented in “Other assets” on the Consolidated Balance Sheets. Operating lease liabilities are presented in “Operating lease liabilities” and finance lease liabilities are presented in “Other liabilities” on the Consolidated Balance Sheets. Any other current liabilities related to operating and finance lease liabilities are presented in “Other current liabilities” on the Consolidated Balance Sheets.