Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
The Company leases office facilities and warehouses under non-cancelable operating lease agreements that expire through 2042, including renewal options that are reasonably certain to be exercised.
Rent expense under operating leases was $7 million in the three months ended March 31, 2024 and 2023. As of March 31, 2024, the Company’s operating leases had a weighted average remaining lease term of 8.1 years and a weighted average discount rate of 7.0%.
Future lease payments for leases that have not yet commenced were $32 million as of March 31, 2024. Lease commencement will occur once the lessor substantially completes construction to make the underlying asset available for use.