The Group’s lease arrangements for its offices, retail stores, data centers and marketing arrangements expire at various dates through 2039. Certain leases are cancelable upon notification by the Group to the landlord and others are renewable. Additionally, the Group subleases certain leases to third parties. Security deposits under letters of credit or cash deposited with banks as of December 31, 2024 and 2023 were $18 million and $13 million, respectively.

Substantially all leases are long-term operating leases for facilities with fixed payment terms between 1 and 15 years. The current portion of operating lease liabilities are presented within total current liabilities, and the non-current portion of operating lease liabilities are presented within total liabilities on the Consolidated Balance Sheets.

Lease Cost — The components of lease cost consisted of the following for the years ended December 31, 2024, 2023 and 2022:


($ in millions)	2024		2023		2022
Operating lease cost	$	155	$	140	$	111
Short term lease cost	15		13		17
Sublease income	(4)		(1)		(1)
Total lease cost	$	166	$	152	$	127

Lease Term and Discount Rate — The weighted-average remaining lease term (in years) and discount rate related to the operating leases consisted of the following as of December 31, 2024:


	Year ended December 31,
	2024
Weighted-average remaining lease term (years)	6.09
Weighted-average discount rate	5.44	%

As most of the Group’s leases do not provide an implicit rate, the Group used its incremental borrowing rate based on the information available at the lease commencement date to determine present value of lease payments, which equal the rates of interest that it would pay to borrow funds on a fully collateralized basis over a similar term.

Maturity of Lease Liabilities — The present value of the Group’s operating leases consisted of the following as of December 31, 2024:


($ in millions)	Year Ending December 31
2025	$	151
2026	$	125
2027	103
2028	77
2029	63
Thereafter	172
Total undiscounted future cash flows	691
Less: imputed interest	(144)
Present value of undiscounted future cash flows	547
Less: Operating lease liabilities – current	119
Operating lease liabilities – noncurrent	428
Total operating lease liabilities	$	547

Other Information — Supplemental cash flow and other information for the years ended December 31, 2024, 2023 and 2022 related to operating leases was as follows:


	For the year ended December 31,
($ in millions)	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	174	$	133	$	92
Right-of-use assets obtained in exchange for new operating lease liabilities	$	155	$	73	$	148