v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of Lease Expense
The following table presents costs and other information related to the Company's leases:
Year Ended December 31
($ in millions)202420232022
Operating lease costs$72 $67 $69 
Short-term operating lease costs$57 $54 $44 
Variable operating lease costs$5 $7 $6 
Operating cash flows from operating leases$(70)$(66)$(65)
Right-of-use assets obtained in exchange for new operating lease liabilities$41 $80 $111 
Weighted-average remaining lease term (years) - operating leases8 years9 years9 years
Weighted-average discount rate - operating leases5.2 %5.0 %4.5 %
Lessee, Operating Lease, Liability, Maturity
The undiscounted future non-cancellable lease payments under the Company's operating leases as of December 31, 2024, were as follows:
($ in millions)December 31, 2024
2025$62 
202651 
202743 
202831 
202926 
Thereafter109 
Total lease payments322 
Less: Imputed interest66 
Present value of operating lease liabilities$256 
Reconciliation of Operating Lease Liability Recognized in Statement of Financial Position
Lease liabilities included in the Company's consolidated statements of financial position as of December 31, 2024 and 2023, were as follows:
December 31
($ in millions)20242023
Short-term operating lease liabilities$51 $51 
Long-term operating lease liabilities205 228 
Total operating lease liabilities$256 $279