v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information
Total lease cost recorded in the Condensed Consolidated Statements of Operations was as follows:

Three Months Ended June 30, Six Months Ended June 30,
(In millions)2026202520262025
Operating lease cost(1)(2)
$226 $238 $438 $444 
Finance lease cost:
Amortization of the right-of-use assets(3)
16 26 15 
Interest on the lease liabilities(4)
12 
Total finance lease cost24 12 38 23 
Variable lease cost(1)
69 42132 86 
Short-term lease cost(1)
54 49 101 96 
Total lease cost(5)
$373 $341 $709 $649 
(1) Operating, variable, short-term lease costs are primarily included in Direct operating expense in the Condensed Consolidated Statements of Operations.
(2) For the three and six months ended June 30, 2026, the Company recorded a net benefit of $4 million and $30 million, respectively, from a real estate transaction that resulted in an early termination of a lease.
(3) Amortization of right-of-use assets is included in Depreciation and amortization in the Condensed Consolidated Statements of Operations.
(4) Interest on the lease liabilities is included in Interest expense, net in the Condensed Consolidated Statements of Operations.
(5) Total lease cost excludes sublease income for all periods presented, as it was not material.

The following amounts were recorded in the Condensed Consolidated Balance Sheets related to leases:

June 30,December 31,
(In millions)20262025
Operating leases:
Operating lease assets$2,698 $2,563 
Current operating lease liabilities$779 $745 
Long-term operating lease liabilities2,137 2,044 
Total operating lease liabilities$2,916 $2,789 
Finance leases:
Property and equipment, net$432 $306 
Current debt$74 $45 
Long-term debt401 281 
Total finance lease liabilities$475 $326 
Schedule of Lease Expenses and Supplemental Cash Flows
Supplemental cash flow information related to leases was as follows:

Six Months Ended June 30,
(In millions)20262025
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$559 $514 
Finance leases178 85