Leases (Tables)

12 Months Ended

Dec. 31, 2025

Summary of supplemental information related to operating leases

A summary of supplemental information related to operating leases as of December 31, 2024 and 2025 is as follows:


		As of December 31,
		2024				2025
		(RMB in millions)
Operating lease ROU assets			24,532				31,128
Operating lease liabilities-current			7,606				9,399
Operating lease liabilities-non-current			18,106				23,708

Total operating lease liabilities			25,712				33,107

Weighted average remaining lease term			7.2 years				7.1 years
Weighted average discount rate			4.2	%			3.6	%

Summary of lease cost recognized and supplemental cash flow information related to operating leases

A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income and supplemental cash flow information related to operating leases is as follows:


		For the year ended December 31,
		2023				2024				2025
		(RMB in millions)
Operating lease cost			8,917				8,934				9,213
Short-term lease cost			3,358				3,263				3,405

Total			12,275				12,197				12,618

Cash paid for operating leases			9,086				9,546				10,012

Summary of maturity of lease liabilities

A summary of maturity of operating lease liabilities under the Group’s

non-cancelable

operating leases as of December 31, 2025 is as follows:


		As of December 31, 202 5
		(RMB in millions)
2026			9,616
2027			6,267
2028			4,419
2029			3,409
2030			2,729
2031 and thereafter			11,737

Total lease payments			38,177
Less: interest			(5,070	)

Present value of operating lease liabilities			33,107