LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Components of Lease Expense

The following table presents lease expense we have recorded in our consolidated statements of operations for the years ended December 31, 2023, 2022, and 2021 (in millions):

	2023		2022		2021
Finance lease expense:
Amortization of finance lease asset	$	4	$	3	$	3
Interest on lease liabilities	2		3		3
Total finance lease expense	6		6		6
Operating lease expense (a)	38		41		60
Total lease expense	$	44	$	47	$	66

(a)Includes variable lease expense of $6 million for the year ended December 31, 2023 and $7 million for each of the years ended December 31, 2022 and 2021 and short-term lease expense of $1 million for the year ended December 31 2021.

The following table presents other information related to leases for the years ended December 31, 2023, 2022, and 2021 (in millions):

	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	33	$	35	$	52
Operating cash flows from finance leases	$	2	$	3	$	3
Financing cash flows from finance leases	$	7	$	6	$	5
Leased assets obtained in exchange for new operating lease liabilities	$	25	$	15	$	50
Leased assets obtained in exchange for new finance lease liabilities	$	—	$	1	$	4

Schedule of Maturity of Finance Leases

The following table summarizes our outstanding operating and finance lease obligations as of December 31, 2023 (in millions):

	Operating Leases		Finance Leases		Total
2024	$	31	$	7	$	38
2025	30		7		37
2026	29		7		36
2027	28		4		32
2028	24		2		26
2029 and thereafter	78		5		83
Total undiscounted obligations	220		32		252
Less imputed interest	(47)		(5)		(52)
Present value of lease obligations	$	173	$	27	$	200

Schedule of Maturity of Operating Leases

The following table summarizes our outstanding operating and finance lease obligations as of December 31, 2023 (in millions):

	Operating Leases		Finance Leases		Total
2024	$	31	$	7	$	38
2025	30		7		37
2026	29		7		36
2027	28		4		32
2028	24		2		26
2029 and thereafter	78		5		83
Total undiscounted obligations	220		32		252
Less imputed interest	(47)		(5)		(52)
Present value of lease obligations	$	173	$	27	$	200

Schedule of Supplemental Balance Sheet Information

The following table summarizes supplemental balance sheet information related to leases as of December 31, 2023 and December 31, 2022 (in millions, except lease term and discount rate):

	2023							2022
	Operating Leases			Finance Leases				Operating Leases			Finance Leases
Lease assets, non-current	$	142		$	12		(a)	$	145		$	16		(a)
Lease liabilities, current	$	21		$	6			$	23		$	6
Lease liabilities, non-current	152			21				154			26
Total lease liabilities	$	173		$	27			$	177		$	32
Weighted average remaining lease term (in years)	7.85			5.26				8.68			5.76
Weighted average discount rate	6.2		%	7.9		%		5.8		%	8.0		%

(a)Finance lease assets are reflected in property and equipment, net in our consolidated balance sheets.