v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, and colocations. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between 2024 and 2093. Many leases include one or more options to renew.

The components of lease costs are as follows (in millions):
Year Ended December 31,
202320222021
Finance lease cost:
Amortization of right-of-use assets$349 $380 $344 
Interest20 16 15 
Operating lease cost2,091 1,857 1,540 
Variable lease cost and other, net580 363 272 
Total lease cost$3,040 $2,616 $2,171 
We also recorded $1.76 billion and $1.71 billion net impairment losses for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts for the years ended December 31, 2023, and 2022, respectively. For additional information, see Note 3 — Restructuring.
Supplemental balance sheet information related to lease liabilities is as follows:
December 31,
20232022
Weighted-average remaining lease term:
Finance leases14.0 years14.4 years
Operating leases 11.6 years12.5 years
Weighted-average discount rate:
Finance leases3.4 %3.1 %
Operating leases3.7 %3.2 %

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions):
Operating LeasesFinance Leases
2024$2,219 $111 
20252,330 64 
20262,264 64 
20272,233 60 
20282,112 60 
Thereafter12,491 492 
Total undiscounted cash flows23,649 851 
Less: Imputed interest(4,800)(161)
Present value of lease liabilities (1)
$18,849 $690 
Lease liabilities, current$1,623 $90 
Lease liabilities, non-current17,226 600 
Present value of lease liabilities (1)
$18,849 $690 
_________________
(1)    Lease liabilities include operating leases under restructuring as a part of our facilities consolidation efforts. For additional information, see Note 3 — Restructuring.

The table above does not include lease payments that were not fixed at commencement or lease modification. As of December 31, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $7.07 billion and $1.37 billion, respectively, mostly for data centers, colocations, and network infrastructure. These operating and finance leases will commence between 2024 and 2028 with lease terms of greater than one year to 30 years.
Supplemental cash flow information related to leases is as follows (in millions):
Year Ended December 31,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$2,233 $1,654 $1,406 
Operating cash flows for finance leases$20 $16 $15 
Financing cash flows for finance leases$1,058 $850 $677 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$4,370 $4,366 $4,466 
Finance leases$588 $223 $160 
_________________
(1)    Cash flows for operating leases during the year ended December 31, 2023 include cash paid for terminations of certain operating leases.
Leases Leases
We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, and colocations. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between 2024 and 2093. Many leases include one or more options to renew.

The components of lease costs are as follows (in millions):
Year Ended December 31,
202320222021
Finance lease cost:
Amortization of right-of-use assets$349 $380 $344 
Interest20 16 15 
Operating lease cost2,091 1,857 1,540 
Variable lease cost and other, net580 363 272 
Total lease cost$3,040 $2,616 $2,171 
We also recorded $1.76 billion and $1.71 billion net impairment losses for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts for the years ended December 31, 2023, and 2022, respectively. For additional information, see Note 3 — Restructuring.
Supplemental balance sheet information related to lease liabilities is as follows:
December 31,
20232022
Weighted-average remaining lease term:
Finance leases14.0 years14.4 years
Operating leases 11.6 years12.5 years
Weighted-average discount rate:
Finance leases3.4 %3.1 %
Operating leases3.7 %3.2 %

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions):
Operating LeasesFinance Leases
2024$2,219 $111 
20252,330 64 
20262,264 64 
20272,233 60 
20282,112 60 
Thereafter12,491 492 
Total undiscounted cash flows23,649 851 
Less: Imputed interest(4,800)(161)
Present value of lease liabilities (1)
$18,849 $690 
Lease liabilities, current$1,623 $90 
Lease liabilities, non-current17,226 600 
Present value of lease liabilities (1)
$18,849 $690 
_________________
(1)    Lease liabilities include operating leases under restructuring as a part of our facilities consolidation efforts. For additional information, see Note 3 — Restructuring.

The table above does not include lease payments that were not fixed at commencement or lease modification. As of December 31, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $7.07 billion and $1.37 billion, respectively, mostly for data centers, colocations, and network infrastructure. These operating and finance leases will commence between 2024 and 2028 with lease terms of greater than one year to 30 years.
Supplemental cash flow information related to leases is as follows (in millions):
Year Ended December 31,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$2,233 $1,654 $1,406 
Operating cash flows for finance leases$20 $16 $15 
Financing cash flows for finance leases$1,058 $850 $677 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$4,370 $4,366 $4,466 
Finance leases$588 $223 $160 
_________________
(1)    Cash flows for operating leases during the year ended December 31, 2023 include cash paid for terminations of certain operating leases.