Leases

3 Months Ended

Mar. 31, 2024

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
(DOLLARS IN MILLIONS)	March 31, 2024		March 31, 2023
Operating leases
Operating lease cost	$	32	$	33
Variable lease cost	16		16
Total operating lease cost	$	48	$	49
Finance leases
Finance lease cost	$	3	$	2

Supplemental cash flow information related to leases was as follows:

	Three Months Ended		Three Months Ended
(DOLLARS IN MILLIONS)	March 31, 2024		March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	28	$	33
Financing cash flows for finance leases	2		2
Right-of-use assets obtained in exchange for lease obligations
Operating leases	39		137
Finance leases	3		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.