v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
NOTE 8. LEASES

We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our operating leases (e.g., for towers and real estate) contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year.

We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based
on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities.

The components of lease expense were as follows:
202520242023
Operating lease cost$5,927$5,776$5,577
Finance lease cost:
Amortization of leased assets in property, plant and equipment
$182$205$232
Interest on lease obligation142171184
Total finance lease cost$324$376$416

The following table provides supplemental cash flows information related to leases:
202520242023
Cash Flows from Operating Activities
Cash paid for amounts included in lease obligations:
Operating cash flows from operating leases$4,830$4,757$4,588
Supplemental Lease Cash Flow Disclosures
Operating lease right-of-use assets obtained in exchange for
    new operating lease obligations
5,5173,7622,693

The following tables set forth supplemental balance sheet information related to leases at December 31:
20252024
Operating Leases
Operating lease right-of-use assets$22,642 $20,909 
Accounts payable and accrued liabilities$3,581 $3,533 
Operating lease obligation18,943 17,391 
Total operating lease obligation$22,524 $20,924 
Finance Leases
Property, plant and equipment, at cost$2,476 $2,449 
Accumulated depreciation and amortization(1,484)(1,378)
Property, plant and equipment – net$992 $1,071 
Current portion of long-term debt$190 $179 
Long-term debt1,192 1,237 
Total finance lease obligation$1,382 $1,416 
20252024
Weighted-Average Remaining Lease Term (years)
Operating leases7.67.6
Finance leases5.36.7
Weighted-Average Discount Rate
Operating leases4.6 %4.5 %
Finance leases8.7 %8.5 %
The following table provides the expected future minimum maturities of lease obligations:
At December 31, 2025
Operating LeasesFinance
Leases
2026$4,956 $309 
20274,489 316 
20283,871 324 
20293,141 333 
20302,291 275 
Thereafter8,808 204 
Total lease payments27,556 1,761 
Less: Imputed interest
(5,032)(379)
Total$22,524 $1,382 
Leases
NOTE 8. LEASES

We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our operating leases (e.g., for towers and real estate) contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year.

We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based
on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities.

The components of lease expense were as follows:
202520242023
Operating lease cost$5,927$5,776$5,577
Finance lease cost:
Amortization of leased assets in property, plant and equipment
$182$205$232
Interest on lease obligation142171184
Total finance lease cost$324$376$416

The following table provides supplemental cash flows information related to leases:
202520242023
Cash Flows from Operating Activities
Cash paid for amounts included in lease obligations:
Operating cash flows from operating leases$4,830$4,757$4,588
Supplemental Lease Cash Flow Disclosures
Operating lease right-of-use assets obtained in exchange for
    new operating lease obligations
5,5173,7622,693

The following tables set forth supplemental balance sheet information related to leases at December 31:
20252024
Operating Leases
Operating lease right-of-use assets$22,642 $20,909 
Accounts payable and accrued liabilities$3,581 $3,533 
Operating lease obligation18,943 17,391 
Total operating lease obligation$22,524 $20,924 
Finance Leases
Property, plant and equipment, at cost$2,476 $2,449 
Accumulated depreciation and amortization(1,484)(1,378)
Property, plant and equipment – net$992 $1,071 
Current portion of long-term debt$190 $179 
Long-term debt1,192 1,237 
Total finance lease obligation$1,382 $1,416 
20252024
Weighted-Average Remaining Lease Term (years)
Operating leases7.67.6
Finance leases5.36.7
Weighted-Average Discount Rate
Operating leases4.6 %4.5 %
Finance leases8.7 %8.5 %
The following table provides the expected future minimum maturities of lease obligations:
At December 31, 2025
Operating LeasesFinance
Leases
2026$4,956 $309 
20274,489 316 
20283,871 324 
20293,141 333 
20302,291 275 
Thereafter8,808 204 
Total lease payments27,556 1,761 
Less: Imputed interest
(5,032)(379)
Total$22,524 $1,382