Annual report pursuant to Section 13 and 15(d)

LEASE OBLIGATIONS (Tables)

v3.22.4
LEASE OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Lease Costs
Lease costs are presented below:
Year Ended December 31,
(In millions) 2022 2021
Operating leases $ 64  $ 70 
Finance leases:
Amortization of right-of-use assets 103  94 
Interest on lease liabilities 8  9 
Short-term leases 160  66 
Total $ 335  $ 239 
Other information related to leases was as follows:
Year Ended December 31,
(In millions) 2022 2021
Cash paid for amounts included in measurement of lease liabilities:
Operating leases within cash flows from operating activities $ 62 $ 70
Finance leases within cash flows from operating activities $ 8 $ 9
Finance leases within cash flows from financing activities $ 96 $ 94
Right-of-use assets obtained in exchange for new finance lease liabilities1
$ 55 $ 50
Weighted-average remaining lease term - operating leases (in years) 9 8
Weighted-average remaining lease term - finance leases (in years) 5 5
Weighted-average discount rate - operating leases 8  % 7  %
Weighted-average discount rate - finance leases 5  % 4  %
1 Right-of-use assets obtained in acquisitions are not included in this figure.
Summary of Future Minimum Lease Payments under Noncellable Finance and Operating Leases
Future minimum lease payments under noncancellable finance and operating leases as of December 31, 2022 were as follows:
(In millions) Finance Leases Operating Leases
2023 $ 101  $ 56 
2024 36  48 
2025 32  40 
2026 24  35 
2027 13  30 
Thereafter 63  123 
Total future minimum lease payments 269  332 
Less: imputed interest 54  94 
Total lease payments 215  238 
Less: current portion of lease liabilities 93  43 
Long-term lease liabilities $ 122  $ 195