Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Operating and Finance Lease Assets and Liabilities are Included on Consolidated Balance Sheet

Operating and finance lease assets and liabilities consist of the following as of the dates presented:


				December 31,				December 31,
		Presentation on Consolidated Balance Sheet		2024				2023
				(in millions)
Noncurrent Lease Assets:
Finance lease		Property and equipment, net		$	57			$	67
Operating lease		Operating lease right-of-use-assets			17				15
		Total lease assets		$	74			$	82


Current Lease Liabilities:
Finance lease		Accrued expenses and other current liabilities		$	7			$	6
Operating lease		Accrued expenses and other current liabilities			6				10
		Total current lease liabilities			13				16

Noncurrent Lease Liabilities:
Finance lease		Finance lease liability, net of current portion			43				51
Operating lease		Operating lease liabilities, net of current portion			11				6
		Total noncurrent lease liabilities			54				57

		Total lease liabilities		$	67			$	73

Components of Lease Expense

The components of lease expense were as follows for the periods presented:


		Year ended December 31,
		2024				2023				2022
		(in millions)
Operating lease cost (1)		$	14			$	17			$	19
Finance lease cost:
Amortization of right-of-use assets (2)		$	10			$	10			$	10
Interest on lease liabilities (3)			2				3				3
Total finance lease cost		$	12			$	13			$	13
Sublease income (1)			(3	)			(5	)			(9	)
Total lease cost, net		$	23			$	25			$	23

(1)

Operating lease costs, net of sublease income, are included within operating expenses in our consolidated statements of operations.

(2)

Amount is included in depreciation expense in our consolidated statements of operations.

(3)

Amount is included in interest expense in our consolidated statements of operations.

Additional Information Related to Leases

Additional information related to our leases is as follows for the periods presented:


		Year ended December 31,
		2024				2023				2022
Supplemental Cash Flows Information:		(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases		$	12			$	17			$	22
Operating cash outflows from finance lease			2				4				3
Financing cash outflows from finance lease			7				8				6

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		$	13			$	4			$	2


		Year ended December 31,
		2024				2023
Weighted-average remaining lease term:
Operating leases		5.1 years				2.0 years
Finance lease		6.0 years				7.0 years

Weighted-average discount rate:
Operating leases			5.5	%			4.1	%
Finance lease			4.5	%			4.5	%

Summary of Future Lease Payments Under Non-Cancellable Leases

Future lease payments under non-cancelable leases as of December 31, 2024 were as follows:


Year Ending December 31,		Operating Leases				Finance Lease
		(in millions)
2025		$	7			$	10
2026			4				10
2027			2				10
2028			2				9
2029			1				9
Thereafter			4				9
Total future lease payments			20				57
Less imputed interest			(3	)			(7	)
Total lease liabilities		$	17			$	50