PROPERTY AND EQUIPMENT, NET |
9 Months Ended |
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Sep. 30, 2024 | |
| Property, Plant and Equipment [Abstract] | |
| PROPERTY AND EQUIPMENT, NET | PROPERTY AND EQUIPMENT, NET At September 30, 2024 and December 31, 2023, we had $1,634 million and $2,340 million, respectively, of net property and equipment recorded on our condensed consolidated balance sheets. During the three and nine months ended September 30, 2024, we identified changes in circumstances that indicated that the carrying values of certain assets may not be recoverable. We assessed the recoverability of the net book values and determined that the carrying values of certain assets were not fully recoverable. We then estimated the fair values of these assets, which are classified as Level Three in the hierarchy, using pending third-party offers or internally-developed cash flow models, which incorporated cash flow assumptions based on current economic trends, historical experience, and future growth projections. We determined that the carrying values of certain assets were in excess of the fair values, and we recognized $21 million and $5 million of impairment charges related to property and equipment and operating lease right-of-use assets, respectively. The impairment charges were recognized in asset impairments on our condensed consolidated statements of income during the three and nine months ended September 30, 2024 within our owned and leased segment.
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