v3.24.1.u1
Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Lease Expense and Cash Flow Information
The components of lease expense were as follows (in millions):
Consolidated Statement of Comprehensive Income (Loss) ClassificationQuarter Ended March 31, 2024Quarter Ended March 31, 2023
Lease costs:
Operating lease costsCommission, transportation and other$71 $55 
Operating lease costsOther operating expenses4 6 
Operating lease costsMarketing, selling and administrative expenses4 5 
Financial lease costs:
Amortization of right-of-use-assetsDepreciation and amortization expenses3 6 
Interest on lease liabilitiesInterest expense, net of interest capitalized8 8 
Total lease costs$90 $80 
The weighted average of the remaining lease terms and weighted average discount rates are as follows:
As of March 31, 2024As of December 31, 2023
Weighted average of the remaining lease term in years
Operating leases20.0219.43
Finance leases24.0623.92
Weighted average discount rate
Operating leases7.55 %7.53 %
Finance leases5.84 %5.83 %
Supplemental cash flow information related to leases is as follows (in millions):
Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$99 $36 
Operating cash flows from finance leases8 8 
Financing cash flows from finance leases$6 $14 
Schedule of Maturities, Operating Leases
As of March 31, 2024, maturities related to lease liabilities were as follows (in millions):
YearOperating LeasesFinance Leases
Remainder of 2024$84 $35 
2025101 45 
202691 39 
202772 38 
202872 37 
Thereafter1,062 684 
Total lease payments1,482 878 
Less: Interest(816)(515)
Present value of lease liabilities$666 $363 
Schedule of Maturities, Finance Leases
As of March 31, 2024, maturities related to lease liabilities were as follows (in millions):
YearOperating LeasesFinance Leases
Remainder of 2024$84 $35 
2025101 45 
202691 39 
202772 38 
202872 37 
Thereafter1,062 684 
Total lease payments1,482 878 
Less: Interest(816)(515)
Present value of lease liabilities$666 $363