LEASES

12 Months Ended

Dec. 31, 2022

Right-of-use assets and lease liabilities associated with the Company’s operating leases are included in the Consolidated Balance Sheet as of December 31, 2022 and 2021 as follows:


(in millions)	2022		2021
Right-of-use assets included in:
Other non-current assets	$	221	$	247
Lease liabilities included in:
Accrued and other current liabilities	$	50	$	50
Other non-current liabilities	184		214
Total lease liabilities	$	234	$	264

As of December 31, 2022, 2021 and 2020 the Company’s finance leases were not material and for the years 2022, 2021 and 2020 sub-lease income and short-term lease expense were not material. Lease expense for the years 2022, 2021 and 2020 include:


(in millions)	2022		2021		2020
Operating lease costs	$	62	$	67	$	65
Variable operating lease costs	$	15	$	12	$	12

Other information related to operating leases for 2022, 2021 and 2020 is as follows:


(dollars in millions)	2022			2021			2020
Cash paid from operating cash flows for amounts included in the measurement of lease liabilities	$	70		$	76		$	74
Right-of-use assets obtained in exchange for new operating lease liabilities	$	28		$	46		$	39
Weighted-average remaining lease term	6.4 years			7.2 years			7.6 years
Weighted-average discount rate	6.5		%	6.1		%	6.2		%

As of December 31, 2022, future payments under noncancelable operating leases for each of the five succeeding years ending December 31 and thereafter are as follows:


(in millions)
2023	$	63
2024	49
2025	42
2026	36
2027	34
Thereafter	63
Total	287
Less: Imputed interest	53
Present value of remaining lease payments	234
Less: Current portion	50
Non-current portion	$	184