LEASES (Tables)

12 Months Ended

Dec. 31, 2022

The components of lease expense were as follows:

(In millions)	2022			2021			2020
Finance lease cost:
Amortization of right-of-use assets	$	14		$	18		$	18
Interest on lease liabilities		2			3			4
Operating lease cost		334			350			402
Short-term lease cost		6			4			6
Variable lease cost		94			99			112
Sublease income		(2	)		(2	)		(2	)
Total lease cost	$	448		$	472		$	540

Supplemental cash flow information related to leases was as follows:

(In millions)	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	2	$	3	$	4
Operating cash flows from operating leases		370		408		447
Financing cash flows from finance leases		18		22		20
Right-of-use assets obtained in exchange for new finance lease liabilities		4		3		29
Right-of-use assets obtained in exchange for new operating lease liabilities		228		127		117

Supplemental balance sheets information related to leases was as follows:

	December 31,			December 25,
(In millions, except lease term and discount rate)	2022			2021
Property and equipment, net	$	29		$	39
Operating lease right-of-use assets		874			936
Accrued expenses and other current liabilities		281			304
Short-term borrowings and current maturities of long-term debt		14			17
Long-term debt, net of current maturities		24			35
Operating lease liabilities		693			753
Weighted-average remaining lease term – finance leases	3			4
Weighted-average remaining lease term – operating leases	5			5
Weighted-average discount rate – finance leases		4.9	%		5.0	%
Weighted-average discount rate – operating leases		6.1	%		5.8	%

Maturities of lease liabilities as of December 31, 2022 were as follows:

	December 31, 2022
	Operating			Finance
(In millions)	Leases⁽¹⁾			Leases⁽²⁾
2023	$	333		$	15
2024		251			10
2025		182			7
2026		142			5
2027		96			3
Thereafter		125			1
		1,129			41
Less imputed interest		(155	)		(3	)
Total	$	974		$	38

Reported as of December 31, 2022
Accrued expenses and other current liabilities	$	281		$	—
Short-term borrowings and current maturities of long-term debt		—			14
Long-term debt, net of current maturities		—			24
Operating lease liabilities		693			—
Total	$	974		$	38

(1)	Operating lease payments include $47 million related to options to extend lease terms that are reasonably certain of being exercised.

(2)	Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $5 million of legally binding minimum lease payments for leases signed but not yet commenced.