v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Components of Lease Costs
Components of lease costs were as follows (in millions):
Year Ended December 31,
202320242025
Operating lease cost$3,362 $3,304 $3,345 
Finance lease cost:
Amortization of lease assets469 413 553 
Interest on lease liabilities35 31 65 
Finance lease cost504 444 618 
Variable lease cost1,182 1,425 1,739 
Total lease cost$5,048 $5,173 $5,702 
Schedule of Supplemental Balance Sheet Information
Supplemental information related to leases was as follows (in millions):
December 31,
20242025
Weighted-average remaining lease term:
Operating leases7.8 years7.6 years
Finance leases10.4 years8.3 years
Weighted-average discount rate:
Operating leases3.4 %3.6 %
Finance leases2.8 %3.1 %
December 31,
20242025
Operating leases:
Operating lease assets$13,588 $15,221 
Accrued expenses and other liabilities$2,887 $3,209 
Operating lease liabilities11,691 12,744 
Total operating lease liabilities$14,578 $15,954 
Finance leases:
Property and equipment, at cost$4,622 $6,822 
Accumulated depreciation(2,037)(2,025)
Property and equipment, net$2,585 $4,797 
Accrued expenses and other liabilities$235 $441 
Other long-term liabilities1,442 2,059 
Total finance lease liabilities$1,677 $2,500 
Schedule of Supplemental Cash Flow Information
Year Ended December 31,
202320242025
Cash payments for lease liabilities:
Operating cash flows used for operating leases
$3,173 $3,425 $3,370 
Operating cash flows used for finance leases
$35 $31 $65 
Financing cash flows used for finance leases(1)
$705 $405 $1,988 
Assets obtained in exchange for lease liabilities:
Operating leases$2,877 $2,510 $4,070 
Finance leases$564 $313 $1,606 
(1)Financing cash flows used for financing leases are included within financing activities as repayments of debt. The year ended December 31, 2025 includes $1.1 billion of prepayments for finance leases not yet commenced.
Schedule of Future Minimum Operating Lease Payments
Future lease payments as of December 31, 2025 were as follows (in millions):
Operating LeasesFinance
Leases
2026$3,275 $491 
20273,082 345 
20282,510 335 
20292,061 314 
20301,669 241 
Thereafter5,654 1,143 
Total undiscounted lease payments
18,251 2,869 
Less: imputed interest
(2,297)(369)
Total lease liability balance$15,954 $2,500 
Schedule of Future Minimum Finance Lease Payments
Future lease payments as of December 31, 2025 were as follows (in millions):
Operating LeasesFinance
Leases
2026$3,275 $491 
20273,082 345 
20282,510 335 
20292,061 314 
20301,669 241 
Thereafter5,654 1,143 
Total undiscounted lease payments
18,251 2,869 
Less: imputed interest
(2,297)(369)
Total lease liability balance$15,954 $2,500