EIDP, Inc. Leases Disclosure
| For the Year Ended December 31, | |||||||||||
| (In millions) | 2025 | 2024 | 2023 | ||||||||
| Operating lease cost | $ | 161 | $ | 176 | $ | 169 | |||||
| Finance lease cost | |||||||||||
| Amortization of right-of-use assets | — | 1 | 1 | ||||||||
| Total finance lease cost | $ | — | $ | 1 | $ | 1 | |||||
| Short-term lease cost | 37 | 27 | 23 | ||||||||
| Variable lease cost | 7 | 8 | 11 | ||||||||
| Total lease cost | $ | 205 | $ | 212 | $ | 204 | |||||
| For the Year Ended December 31, | |||||||||||
| (In millions) | 2025 | 2024 | 2023 | ||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
| Operating cash outflows from operating leases | $ | 166 | $ | 188 | $ | 169 | |||||
| Financing cash outflows from finance leases | $ | — | $ | 1 | $ | 1 | |||||
| (In millions) | December 31, 2025 | December 31, 2024 | ||||||
Operating Leases | ||||||||
Operating lease right-of-use assets 1 | $ | 411 | $ | 414 | ||||
Current operating lease liabilities 2 | 122 | 134 | ||||||
Noncurrent operating lease liabilities 3 | 293 | 342 | ||||||
Total operating lease liabilities | $ | 415 | $ | 476 | ||||
Finance Leases | ||||||||
Property, plant, and equipment, gross | $ | 14 | $ | 14 | ||||
Accumulated depreciation | (14) | (14) | ||||||
Property, plant, and equipment, net | $ | — | $ | — | ||||
| Short-term borrowings and finance lease obligations | — | — | ||||||
| Long-term debt | — | — | ||||||
| Total finance lease liabilities | $ | — | $ | — | ||||
| Lease Term and Discount Rate | December 31, 2025 | December 31, 2024 | ||||||
| Weighted-average remaining lease term (years) | ||||||||
| Operating leases | 6.20 | 6.44 | ||||||
| Finance leases | 0 | 0.38 | ||||||
| Weighted average discount rate | ||||||||
| Operating leases | 3.85 | % | 3.32 | % | ||||
| Finance leases | — | % | 3.29 | % | ||||
| Maturity of Lease Liabilities at December 31, 2025 | Operating Leases | ||||
| (In millions) | |||||
| 2026 | $ | 136 | |||
| 2027 | 95 | ||||
| 2028 | 71 | ||||
| 2029 | 51 | ||||
| 2030 | 33 | ||||
| 2031 and thereafter | 87 | ||||
| Total lease payments | $ | 473 | |||
| Less: Interest | 58 | ||||
| Present value of lease liabilities | $ | 415 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 8, 2024 | |
| 2022 | Feb 9, 2023 | |
| 2021 | Feb 10, 2022 | |
| 2020 | Feb 11, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2015 | Feb 4, 2016 | |
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.