Airbnb, Inc.ABNB

Airbnb, Inc. Leases Disclosure

10-KFiled Feb 12, 20261 min read
Leases
The Company’s material operating leases consist of office space. The Company’s leases generally have remaining terms of one to 13 years, some of which include one or more options to extend the leases up to 10 years. Additionally, some lease contracts include termination options. Generally, the lease term is the minimum of the non-cancelable period of the lease or the lease term inclusive of reasonably certain renewal periods.

The components of lease cost, excluding the immaterial impact from sublease income, were as follows (in millions):

Year Ended December 31,
202320242025
Operating lease cost
$58 $53 $47 
Short-term lease cost
6 4 4 
Variable lease cost
16 17 19 
Lease cost, net
$80 $74 $70 

Lease costs are classified within operations and support, product development, sales and marketing, and general and administrative expenses on the consolidated statements of operations.

Weighted-average lease term and discount rate were as follows:

December 31,
20242025
Weighted-average remaining lease term (years)7.26.9
Weighted-average discount rate7.3 %7.4 %
Maturities of lease liabilities (excluding short-term leases) were as follows as of December 31, 2025 (in millions):

Year Ending December 31,
Amount(1)
2026$86 
20279 
202838 
202950 
203044 
Thereafter139 
Total lease payments366 
Less: Imputed interest(94)
Present value of lease liabilities272 
Less: Current portion of lease liabilities(68)
Total long-term lease liabilities$204 

(1)Amounts are net of tenant improvement allowances.

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 13, 2025
2023Feb 16, 2024
2022Feb 17, 2023
2021Feb 25, 2022

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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