Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Lease Cost and Additional Information

The following table provides additional information about the Company’s property leases:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023			2022
Lease Cost:
Operating lease cost (a)	$	82	$	84	$	243		$	262
Short-term lease cost	1		1		4			3
Variable lease cost	31		35		94			99
Sublease income	(2)		(3)		(8)			(12)
Net lease cost	$	112	$	117	$	333		$	352
Other information:
Operating cash outflows from operating leases					$	284		$	286
Right of use assets obtained in exchange for new operating lease liabilities					$	177		$	148
Weighted-average remaining lease term – real estate					8.1 years			8.4 years
Weighted-average discount rate – real estate leases					3.28		%	2.87		%

(a) Excludes ROU asset impairment charges.

Schedule of Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for the Company’s operating leases as of September 30, 2023 are as follows:

(In millions)	Real Estate Leases
Remainder of 2023	$	92
2024	354
2025	325
2026	302
2027	265
2028	188
Subsequent years	680
Total future lease payments	2,206
Less: Imputed interest	(260)
Total	$	1,946
Current lease liabilities	$	303
Long-term lease liabilities	1,643
Total lease liabilities	$	1,946

Note: The above table excludes obligations for leases with original terms of twelve months or less which have not been recognized as a ROU asset or liability in the consolidated balance sheets.