Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Operating Lease Costs and Supplemental Cash Flow Information

The following table summarizes the components of total operating lease costs, net and provides supplemental cash flow information related to leases:

Year Ended December 31,	2023		2022		2021
	(in millions)
Operating lease cost	$	42	$	49	$	87
Variable lease cost	25		33		48
Sublease income(1)	(33)		(39)		(43)
Total operating lease costs, net	$	34	$	43	$	92
Supplemental disclosure of cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	71	$	79	$	129
ROU assets recognized for new operating lease liabilities	337		2		—

(1)We have entered into agreements to sublease certain office space, including agreements to receive rental income from our affiliates. As lessee of the properties, we have entered into agreements with these affiliates to charge them rent based on the office space utilized by their employees during the period. See Note 24, "Related Party Transactions," for further disclosure.

Operating Lease ROU Assets and Liabilities

The following table presents information about our operating lease ROU assets and liabilities:

At December 31,	2023			2022
	(dollars are in millions)
Operating lease ROU assets(1)	$	495		$	139
Operating lease liabilities	488			217
Weighted-average remaining lease term	17.2 years			8.1 years
Weighted-average discount rate	5.1		%	3.0		%

(1)Reported inclusive of prepaid construction costs, net of level lease adjustments and accumulated impairment losses.

Maturity Analysis of Operating Lease Liabilities

The following table presents a maturity analysis of our operating lease liabilities at December 31, 2023:

Year Ending December 31,
	(in millions)
2024	$	60
2025	51
2026	42
2027	40
2028	39
Thereafter	559
Total future operating lease payments	791
Less - imputed interest	(303)
Total operating lease liabilities	$	488