LEASES |
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| LEASES | LEASES The Company’s operating leases, where Citi is a lessee, include real estate, such as office space and branches, and various types of equipment. These leases may contain renewal and extension options and early termination features; however, these options do not impact the lease term unless the Company is reasonably certain that it will exercise options. These leases have a weighted-average remaining lease term of approximately 7 years as of December 31, 2025 and 6.5 years as of December 31, 2024. For additional information regarding Citi’s leases, see “Leases” in Note 1. The following table presents information on the right-of-use (ROU) asset and lease liabilities included in and , respectively:
The Company recognizes fixed lease costs on a straight-line basis throughout the lease term in the Consolidated Statement of Income. In addition, variable lease costs are recognized in the period in which the obligation for those payments is incurred. The following table presents the total operating lease expense (principally for offices, branches and equipment) included in the Consolidated Statement of Income:
(1) Balances do not include $10 million, $9 million and $3 million of sublease income for the years ended December 31, 2025, 2024 and 2023, respectively. The table below provides the supplemental Statement of Cash Flows information:
(1) Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. Citi’s future lease payments are as follows:
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