v3.24.3
OPERATING LEASES
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
OPERATING LEASES OPERATING LEASES
The lease cost for operating leases were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
Operating lease costs$31 $30 $94 $88 

Operating cash flows from operating leases were $89 million and $85 million for the nine months ended September 30, 2024 and 2023, respectively.

New operating lease assets and liabilities entered into during the nine months ended September 30, 2024 and 2023, were $47 million and $143 million, respectively. Supplemental balance sheet information related to leases was as follows:
In millionsSeptember 30, 2024December 31, 2023
Operating Leases
 
Operating lease right-of-use assets 1
$435 $484 
Current operating lease liabilities 2
92 97 
Noncurrent operating lease liabilities 3
347 390 
Total operating lease liabilities
$439 $487 
1.Included in "Deferred charges and other assets" in the interim Condensed Consolidated Balance Sheets.
2.Included in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets.
3.Included in "Other noncurrent obligations" in the interim Condensed Consolidated Balance Sheets.

Operating lease right-of-use ("ROU") assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide the lessor’s implicit rate, the Company uses its incremental borrowing rate at the commencement date in determining the present value of lease payments.
Lease Term and Discount Rate for Operating LeasesSeptember 30, 2024December 31, 2023
Weighted-average remaining lease term (years)7.98.5
Weighted average discount rate3.76 %3.55 %

Maturities of lease liabilities were as follows:
Maturity of Lease Liabilities at September 30, 2024
Operating Leases
In millions
Remainder of 2024$30 
202599 
202677 
202761 
202844 
2029 and thereafter195 
Total lease payments$506 
Less: Interest67 
Present value of lease liabilities$439 

The Company has leases in which it is the lessor. In connection with the 2021 sale of the N&B businesses and the M&M Divestitures, DuPont entered into leasing agreements with International Flavors & Fragrance Inc. (“IFF”) and Celanese, whereby DuPont is leasing certain properties, including office spaces and R&D laboratories. These leases are classified as operating leases and lessor income and related expenses are not significant to the Company's interim Condensed Consolidated Balance Sheets or interim Consolidated Statement of Operations. Lease agreements where the Company is the lessor have final expirations through 2036.
OPERATING LEASES OPERATING LEASES
The lease cost for operating leases were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
In millions2024202320242023
Operating lease costs$31 $30 $94 $88 

Operating cash flows from operating leases were $89 million and $85 million for the nine months ended September 30, 2024 and 2023, respectively.

New operating lease assets and liabilities entered into during the nine months ended September 30, 2024 and 2023, were $47 million and $143 million, respectively. Supplemental balance sheet information related to leases was as follows:
In millionsSeptember 30, 2024December 31, 2023
Operating Leases
 
Operating lease right-of-use assets 1
$435 $484 
Current operating lease liabilities 2
92 97 
Noncurrent operating lease liabilities 3
347 390 
Total operating lease liabilities
$439 $487 
1.Included in "Deferred charges and other assets" in the interim Condensed Consolidated Balance Sheets.
2.Included in "Accrued and other current liabilities" in the interim Condensed Consolidated Balance Sheets.
3.Included in "Other noncurrent obligations" in the interim Condensed Consolidated Balance Sheets.

Operating lease right-of-use ("ROU") assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide the lessor’s implicit rate, the Company uses its incremental borrowing rate at the commencement date in determining the present value of lease payments.
Lease Term and Discount Rate for Operating LeasesSeptember 30, 2024December 31, 2023
Weighted-average remaining lease term (years)7.98.5
Weighted average discount rate3.76 %3.55 %

Maturities of lease liabilities were as follows:
Maturity of Lease Liabilities at September 30, 2024
Operating Leases
In millions
Remainder of 2024$30 
202599 
202677 
202761 
202844 
2029 and thereafter195 
Total lease payments$506 
Less: Interest67 
Present value of lease liabilities$439 

The Company has leases in which it is the lessor. In connection with the 2021 sale of the N&B businesses and the M&M Divestitures, DuPont entered into leasing agreements with International Flavors & Fragrance Inc. (“IFF”) and Celanese, whereby DuPont is leasing certain properties, including office spaces and R&D laboratories. These leases are classified as operating leases and lessor income and related expenses are not significant to the Company's interim Condensed Consolidated Balance Sheets or interim Consolidated Statement of Operations. Lease agreements where the Company is the lessor have final expirations through 2036.