Leases (Tables)

12 Months Ended

Dec. 31, 2023

The components of lease expense were as follows:

Supplemental cash flow information related to leases was as follows:


	December 31,
(DOLLARS IN MILLIONS)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	122	$	135	$	129
Operating cash flows for finance leases	1		—		—
Financing cash flows for finance leases	8		7		6
Right-of-use assets obtained in exchange for lease obligations
Operating leases	49		174		88
Finance leases	22		7		15

Weighted average remaining lease term and discount rate were as follows:


	December 31,
	2023		2022
Weighted average remaining lease term in years
Operating leases	9.9		10.6
Finance leases	3.5		4.0
Weighted average discount rate
Operating leases	4.24	%	3.83	%
Finance leases	4.33	%	2.59	%

Supplemental balance sheet information related to leases was as follows:


	December 31,
(DOLLARS IN MILLIONS)	2023		2022
Operating Leases
Operating lease right-of-use assets	$	689	$	743

Current operating lease obligations(2)	85		86
Operating lease liabilities	642		672
Total operating lease liabilities	$	727	$	758
Finance Leases
Finance lease right-of-use assets(1)	$	26	$	22

Current finance lease obligations(2)	7		5
Finance lease liabilities(3)	18		12
Total finance lease liabilities	$	25	$	17

_______________________

(1)Presented in Other assets on the Consolidated Balance Sheets.

(2)Presented in Other current liabilities on the Consolidated Balance Sheets.

(3)Presented in Other liabilities on the Consolidated Balance Sheets.

Maturities of lease liabilities as of December 31, 2023 were as follows:


(DOLLARS IN MILLIONS)	Operating Leases		Finance Leases		Total
2024	$	113	$	9	$	122
2025	110		8		118
2026	101		7		108
2027	87		4		91
2028	77		—		77
Thereafter	410		—		410
Total undiscounted liabilities	898		28		926
Less: Imputed interest	(171)		(3)		(174)
Total lease liabilities	$	727	$	25	$	752