We have operating and finance leases for datacenters, corporate offices, research and development facilities, and certain equipment. Our leases have remaining lease terms of less than 1 year to 19 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year.

The components of lease expense were as follows:


(In millions)	Three Months Ended March 31,					Nine Months Ended March 31,


		2026		2025		2026		2025

Operating lease cost	$	1,775	$	1,476	$	5,172	$	3,929


Finance lease cost:
Amortization of right-of-use assets	$	1,406	$	900	$	3,856	$	2,426
Interest on lease liabilities		668		374		1,829		986


Total finance lease cost	$	2,074	$	1,274	$	5,685	$	3,412

Supplemental cash flow information related to leases was as follows:


(In millions)	Three Months Ended March 31,					Nine Months Ended March 31,


		2026		2025		2026		2025

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,532	$	955	$	4,693	$	3,124
Operating cash flows from finance leases		668		344		1,829		938
Financing cash flows from finance leases		839		352		2,179		1,634
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		792		1,918		3,686		6,909
Finance leases		4,009		3,241		19,486		14,008

Supplemental balance sheet information related to leases was as follows:


(In millions, except lease term and discount rate)


	March 31, 2026			June 30, 2025

Operating Leases

Operating lease right-of-use assets	$	24,403		$	24,823


Other current liabilities	$	5,535		$	5,424
Operating lease liabilities		16,703			17,437


Total operating lease liabilities	$	22,238		$	22,861


Finance Leases

Property and equipment, at cost	$	77,633		$	53,876
Accumulated depreciation		(13,916	)		(9,861	)


Property and equipment, net	$	63,717		$	44,015


Other current liabilities	$	4,063		$	3,172
Other long-term liabilities		58,869			43,000


Total finance lease liabilities	$	62,932		$	46,172


Weighted Average Remaining Lease Term

Operating leases		6 years			6 years
Finance leases		13 years			13 years

Weighted Average Discount Rate

Operating leases		3.6%			3.5%
Finance leases		4.4%			4.2%

The following table outlines maturities of our lease liabilities as of March 31, 2026:


(In millions)


Year Ending June 30,	Operating Leases			Finance Leases

2026 (excluding the nine months ended March 31, 2026)	$	1,735		$	1,633
2027		5,910			6,786
2028		4,207			6,864
2029		3,011			6,232
2030		2,476			6,126
Thereafter		7,516			56,961


Total lease payments		24,855			84,602
Less imputed interest		(2,617	)		(21,670	)


Total	$	22,238		$	62,932

As of March 31, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $196.6 billion. These leases will commence between fiscal year 2026 and fiscal year 2031 with lease terms of 1 year to 21 years.