Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Lease Assets And Liabilities

Total recorded balances for the lease assets and liabilities are as follows:

	December 31,
(Dollars in millions)	2021		2020
Assets:
Right-of-use assets - operating leases	$	313	$	210
Liabilities:
Lease liabilities - operating leases	388		259

Lease Expense Components

The components of our lease cost and supplemental cash flow information related to leases for the year ended December 31, 2021 and 2020 were as follows:

	December 31,
(Dollars in millions)	2021		2020
Operating lease cost	$	90	$	69
Short-term lease cost	—		1
Variable lease cost	4		4
Less: sublease income	(4)		(2)
Total lease expense, net	$	90	$	72
Supplemental cash flows information:
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases	$	66	$	50
Noncash items during the period:
Lease obligations in exchange for obtaining right-of-use assets:
Operating leases	$	187	$	75

The table below presents additional information related to the Company's leases as of December 31, 2021 and 2020:

	December 31,
	2021		2020
Weighted-average remaining term (in years) - operating leases	7.29		6.05
Weighted-average discount rate - operating leases (1)	1.83	%	2.38	%

(1)The incremental borrowing rate used to calculate the lease liability was determined based on the facts and circumstances of the economic environment and the Company’s credit standing as of the effective date of ASC 842. Additionally, the total lease term and total lease payments were also considered in determining the rate. Based on these considerations the Company identified credit terms available under its existing credit lines which represent a collateralized borrowing rate that has varying credit terms that could be matched to total lease terms and total lease payments in ultimately determining the implied borrowing rate in each lease contract.

Lessee, Operating Lease, Liability, Maturity

The following table presents our undiscounted future cash payments for our operating lease liabilities as of December 31, 2021:

Years ended December 31, (Dollars in millions)	Operating Leases
2022	$	77
2023	77
2024	62
2025	50
2026	38
2027 and thereafter	112
Total lease payments	$	416
Less: imputed interest	(28)
Total lease liabilities	$	388