Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Sep. 30, 2023
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 September 30, 2023 and 2022 and $21 million in the nine months ended September 30, 2023 and 2022. As of September 30, 2023, the Company’s operating leases had a weighted average remaining lease term of 8.3 years and a weighted average discount rate of 6.9%.
Future lease payments for leases that have not yet commenced were $32 million as of September 30, 2023. Lease commencement will occur once the lessor substantially completes construction to make the underlying asset available for use.