Leases
We lease office space and certain computer and related equipment using noncancelable operating leases. Our leases have remaining lease terms of 1 year to 11 years.
The information related to our leases is as follows:
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| Balance Sheet Location | | December 31, 2025 | | December 31, 2024 |
| Operating Leases | | | | | |
| ROU assets | Other noncurrent assets | | $ | 452 | | | $ | 567 | |
| Lease liabilities, current | Other current liabilities | | 131 | | | 153 | |
| Lease liabilities, noncurrent | Other noncurrent liabilities | | $ | 529 | | | $ | 658 | |
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| Years Ended December 31 |
| 2025 | | 2024 | | 2023 |
| Lease Expense | | | | | |
| Operating lease expense | $ | 116 | | $ | 147 | | $ | 155 |
| Short-term and variable lease expense | 42 | | 47 | | 43 |
| Sublease income | (5) | | (6) | | (5) |
| Total lease expense | $ | 153 | | $ | 188 | | $ | 193 | |
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During the years ended December 31, 2025, 2024 and 2023, we reduced our office space footprint and concurrently performed an interim impairment test for related ROU assets. We recorded impairment charges of $7, $17 and $23, respectively, for impairment and abandonment of ROU assets which are included in the operating lease expense shown above.
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| | | | Years Ended December 31 |
| | | | 2025 | | 2024 |
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| Other information | | | | | |
| Operating cash paid for amounts included in the measurement of lease liabilities, operating leases | | | $ | 176 | | $ | 202 |
| ROU assets obtained in exchange for new lease liabilities, operating leases | | | 33 | | 63 |
ROU assets derecognized (terminations/modifications) | | | $ | (75) | | $ | (19) |
| Weighted average remaining lease term in years, operating leases | | | 6 | | 6 |
| Weighted average discount rate, operating leases | | | 4.05 | % | | 3.96 | % |
At December 31, 2025, future lease payments for noncancelable operating leases with initial or remaining terms of one year or more are as follows:
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| 2026 | $ | 159 | |
| 2027 | 133 | |
| 2028 | 121 | |
| 2029 | 110 | |
| 2030 | 91 | |
| Thereafter | 129 | |
| Total future minimum payments | 743 | |
| Less imputed interest | (83) | |
| Total lease liabilities | $ | 660 | |
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.