v3.25.4
Property, Equipment and Right-of-Use Assets
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Equipment and Right-of-Use Assets Property, Equipment and Right-of-Use Assets
Property, equipment and right-of-use assets consisted of the following at December 31:
20252024
(in millions)
Buildings, building equipment and land$744 $709 
Equipment2,347 2,118 
Furniture and fixtures105 101 
Leasehold improvements497 436 
Operating lease right-of-use assets1,366 1,167 
Property, equipment and right-of-use assets5,059 4,531 
Less: Accumulated depreciation and amortization(2,756)(2,393)
Property, equipment and right-of-use assets, net$2,303 $2,138 
Depreciation and amortization expense for the above property, equipment and right-of-use assets was $544 million, $519 million and $482 million for 2025, 2024 and 2023, respectively.
Operating lease ROU assets and operating lease liabilities are recorded on the consolidated balance sheets as follows at December 31:
20252024
(in millions)
Balance sheet location
Property, equipment and right-of-use assets, net$750 $681 
Other current liabilities157 133 
Other liabilities676 627 
Operating lease amortization expense was $161 million, $145 million and $141 million for 2025, 2024 and 2023, respectively. As of December 31, 2025 and 2024, the weighted-average remaining lease term of operating leases was 7.2 and 8.0 years, respectively, and the weighted-average discount rate for operating leases was 3.6% and 3.5%, respectively.
The useful lives of the Company’s assets are as follows:
Asset CategoryEstimated Useful Life
Buildings30 years
Building equipment
10 - 15 years
Equipment and furniture and fixtures
2 - 6 years
Leasehold improvementsShorter of life of improvement or lease term
Right-of-use assetsShorter of life of the asset or lease term
The following table summarizes the maturity of the Company’s operating lease liabilities at December 31, 2025 based on lease term:
(in millions)
2026$187 
2027151 
2028126 
2029101 
203087 
Thereafter306 
Total operating lease payments958 
Less: Interest(125)
Present value of operating lease liabilities$833