v3.26.3
Leases
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Leases
Note 4. Leases

The Company has entered into noncancelable operating and finance leases primarily for real estate and warehouse equipment. The Company determines whether an arrangement is a lease at inception and, if so, whether that lease meets the classification criteria for a finance or an operating lease at the commencement date.

Total lease cost recorded in the Condensed Consolidated Statements of Operations was as follows:

Three Months Ended September 30, Nine Months Ended September 30,
(In millions)2026202520262025
Operating lease cost(1)
$273 $232 $711 $670 
Finance lease cost:
Amortization of the right-of-use assets(2)
31 12 57 27 
Interest on the lease liabilities(3)
7 5 19 13 
Total finance lease cost38 17 76 40 
Variable lease cost(1)
60 48192 164 
Short-term lease cost(1)
28 61 129 149 
Total lease cost(4)
$399 $358 $1,108 $1,023 
(1) Operating, variable, and short-term lease costs are primarily included in Direct operating expense in the Condensed Consolidated Statements of Operations.
(2) Amortization of right-of-use assets is included in Depreciation and amortization expense in the Condensed Consolidated Statements of Operations.
(3) Interest on the lease liabilities is included in Interest expense, net in the Condensed Consolidated Statements of Operations.
(4) Total lease cost excludes sublease income for all periods presented, as it was not material.

For the nine months ended September 30, 2026, the Company recorded a net benefit of $30 million, from a real estate transaction that resulted in an early termination of a lease.

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

September 30,December 31,
(In millions)20262025
Operating lease right-of-use assets$2,786 $2,563 
Current operating lease liabilities$777 $745 
Long-term operating lease liabilities2,225 2,044 
Operating lease liabilities$3,002 $2,789 
Finance lease right-of-use assets included in Property and equipment, net$498 $306 
Finance lease liabilities included in Current debt$82 $45 
Finance lease liabilities included in Long-term debt405 281 
Finance lease liabilities$487 $326 
Supplemental cash flow information related to leases was as follows:

Nine Months Ended September 30,
(In millions)20262025
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$875 $682 
Finance leases207 83 
Leases
Note 4. Leases

The Company has entered into noncancelable operating and finance leases primarily for real estate and warehouse equipment. The Company determines whether an arrangement is a lease at inception and, if so, whether that lease meets the classification criteria for a finance or an operating lease at the commencement date.

Total lease cost recorded in the Condensed Consolidated Statements of Operations was as follows:

Three Months Ended September 30, Nine Months Ended September 30,
(In millions)2026202520262025
Operating lease cost(1)
$273 $232 $711 $670 
Finance lease cost:
Amortization of the right-of-use assets(2)
31 12 57 27 
Interest on the lease liabilities(3)
7 5 19 13 
Total finance lease cost38 17 76 40 
Variable lease cost(1)
60 48192 164 
Short-term lease cost(1)
28 61 129 149 
Total lease cost(4)
$399 $358 $1,108 $1,023 
(1) Operating, variable, and short-term lease costs are primarily included in Direct operating expense in the Condensed Consolidated Statements of Operations.
(2) Amortization of right-of-use assets is included in Depreciation and amortization expense in the Condensed Consolidated Statements of Operations.
(3) Interest on the lease liabilities is included in Interest expense, net in the Condensed Consolidated Statements of Operations.
(4) Total lease cost excludes sublease income for all periods presented, as it was not material.

For the nine months ended September 30, 2026, the Company recorded a net benefit of $30 million, from a real estate transaction that resulted in an early termination of a lease.

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

September 30,December 31,
(In millions)20262025
Operating lease right-of-use assets$2,786 $2,563 
Current operating lease liabilities$777 $745 
Long-term operating lease liabilities2,225 2,044 
Operating lease liabilities$3,002 $2,789 
Finance lease right-of-use assets included in Property and equipment, net$498 $306 
Finance lease liabilities included in Current debt$82 $45 
Finance lease liabilities included in Long-term debt405 281 
Finance lease liabilities$487 $326 
Supplemental cash flow information related to leases was as follows:

Nine Months Ended September 30,
(In millions)20262025
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$875 $682 
Finance leases207 83