Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Lease Cost and Additional Information

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

	Three Months Ended June 30,				Six Months Ended  June 30,
(In millions)	2024		2023		2024			2023
Lease Cost:
Operating lease cost (a)	$	81	$	81	$	163		$	161
Short-term lease cost	2		2		3			3
Variable lease cost	28		26		54			63
Sublease income	(5)		(2)		(8)			(6)
Net lease cost	$	106	$	107	$	212		$	221
Other information:
Operating cash outflows from operating leases					$	183		$	189
Right of use assets obtained in exchange for new operating lease liabilities					$	85		$	121
Weighted average remaining lease term – real estate					7.8 years			8.3 years
Weighted average discount rate – real estate leases					3.58		%	3.21		%

(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 at June 30, 2024 are as follows:

(In millions)	Real Estate Leases
2024 (excludes payments through June 30, 2024)	$	182
2025	355
2026	327
2027	289
2028	214
2029	170
Subsequent years	616
Total future lease payments	2,153
Less: Imputed interest	(263)
Total	$	1,890
Current lease liabilities	$	304
Long-term lease liabilities	1,586
Total lease liabilities	$	1,890

Note: The above table excludes obligations for leases with original terms of 12 months or less which have not been recognized as a ROU asset or liability in the consolidated balance sheets.