v3.26.1
LEASES
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES LEASES
We have finance and operating leases for real estate (primarily package centers, airport facilities and warehouses), aircraft and engines, information technology equipment, vehicles and various other equipment used in operating our business. Certain leases for real estate and aircraft contain options to purchase, extend or terminate the lease.
As of June 30, 2026, we had $1.8 billion of additional leases which had not commenced and are expected to commence later in 2026 through 2027. These leases are primarily related to aircraft and will commence when the related aircraft is delivered. Other leases will commence when we are granted access to the property, such as when leasehold improvements are completed or a certificate of occupancy is obtained.
The components of lease expense for the three and six months ended June 30, 2026 and 2025 were as follows (in millions):
Three Months Ended
 June 30,		Six Months Ended
 June 30,
2026202520262025
Operating lease costs$250 $232 $494 $463 
Finance lease costs:
Amortization of assets45 27 89 62 
Interest on lease obligations13 5 24 12 
Total finance lease costs58 32 113 74 
Variable lease costs108 118 210 190 
Short-term lease costs302 207 635 419 
Total lease costs$718 $589 $1,452 $1,146 
LEASES LEASES
We have finance and operating leases for real estate (primarily package centers, airport facilities and warehouses), aircraft and engines, information technology equipment, vehicles and various other equipment used in operating our business. Certain leases for real estate and aircraft contain options to purchase, extend or terminate the lease.
As of June 30, 2026, we had $1.8 billion of additional leases which had not commenced and are expected to commence later in 2026 through 2027. These leases are primarily related to aircraft and will commence when the related aircraft is delivered. Other leases will commence when we are granted access to the property, such as when leasehold improvements are completed or a certificate of occupancy is obtained.
The components of lease expense for the three and six months ended June 30, 2026 and 2025 were as follows (in millions):
Three Months Ended
 June 30,		Six Months Ended
 June 30,
2026202520262025
Operating lease costs$250 $232 $494 $463 
Finance lease costs:
Amortization of assets45 27 89 62 
Interest on lease obligations13 5 24 12 
Total finance lease costs58 32 113 74 
Variable lease costs108 118 210 190 
Short-term lease costs302 207 635 419 
Total lease costs$718 $589 $1,452 $1,146