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Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases
Note 6 - Leases    
Our leases primarily include corporate offices, data centers, and servers. The lease term of operating and finance leases vary from less than a year to 76 years. We have leases that include one or more options to extend the lease term for up to 14 years as well as options to terminate the lease within one year. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Our lease agreements generally do not contain any residual value guarantees or restrictive covenants.
The components of our lease expense were as follows (in millions):
Year Ended December 31,
202220232024
Lease cost
Finance lease cost:
      Amortization of assets$186 $188 $168 
      Interest of lease liabilities13 31 25 
Operating lease cost
304 321 294 
Short-term lease cost7 10 2 
Variable lease cost142 129 115 
Sublease income(17)(22)(22)
Total lease cost$635 $657 $582 
Supplemental cash flow information related to leases was as follows (in millions):
Year Ended December 31,
202220232024
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from financing leases$13 $32 $26 
Operating cash flows from operating leases339 335 332 
Financing cash flows from financing leases184 171 172 
Right-of-use assets obtained in exchange for lease obligations:
Operating lease liabilities$329 $84 $132 
Finance lease liabilities349 216 4 
Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
As of December 31,
20232024
Operating Leases
Operating lease right-of-use assets$1,241 $1,158 
Operating lease liability, current$190 $175 
Operating lease liabilities, non-current1,550 1,454 
     Total operating lease liabilities$1,740 $1,629 
As of December 31,
20232024
Finance Leases
Property and equipment, at cost$683 $641 
Accumulated depreciation(250)(372)
     Property and equipment, net $433 $269 
Other current liabilities$156 $136 
Other long-term liabilities322 174 
     Total finance leases liabilities$478 $310 
As of December 31,
20232024
Weighted-average remaining lease term
     Operating leases15 years15 years
     Finance leases3 years2 years
Weighted-average discount rate
     Operating leases6.6 %6.7 %
     Finance leases6.3 %6.6 %
Maturities of lease liabilities were as follows (in millions):
As of December 31, 2024
Operating LeasesFinance Leases
2025$271 $174 
2026258 132 
2027235 23 
2028212 1 
2029207 1 
Thereafter1,727 1 
Total undiscounted lease payments2,910 332 
Less: imputed interest(1,281)(22)
Total lease liabilities$1,629 $310 
As of December 31, 2024, additional operating leases and finance leases that have not yet commenced were immaterial.
Mission Bay 1 & 2
We own two adjacent office buildings, Mission Bay 1 & 2, which are located on land for which we have two 76-year land lease agreements (“Land Leases”) ending in 2092. We have a 49% indirect interest in the land (“Indirect Interest”) which are accounted for as a financing arrangement due to our 49% previous ownership in the land and continuing involvement through a purchase option on the land in the Land Leases. As of December 31, 2024, our Indirect Interest is included in property and equipment, net, with the corresponding financing obligation included in other long-term liabilities. The remaining 51% of the Land Leases are accounted for as operating leases. The annual rent amounts under the Land Leases are fixed through 2032, after which, the annual rent amounts will adjust annually based on the prevailing consumer price index.
Future lease payments on the Land Leases as of December 31, 2024, is $1.7 billion; 51% is included in our operating lease commitments, and 49% or $826 million, is allocated to the financing obligation of the Indirect Interest through 2092.
Leases
Note 6 - Leases    
Our leases primarily include corporate offices, data centers, and servers. The lease term of operating and finance leases vary from less than a year to 76 years. We have leases that include one or more options to extend the lease term for up to 14 years as well as options to terminate the lease within one year. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Our lease agreements generally do not contain any residual value guarantees or restrictive covenants.
The components of our lease expense were as follows (in millions):
Year Ended December 31,
202220232024
Lease cost
Finance lease cost:
      Amortization of assets$186 $188 $168 
      Interest of lease liabilities13 31 25 
Operating lease cost
304 321 294 
Short-term lease cost7 10 2 
Variable lease cost142 129 115 
Sublease income(17)(22)(22)
Total lease cost$635 $657 $582 
Supplemental cash flow information related to leases was as follows (in millions):
Year Ended December 31,
202220232024
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from financing leases$13 $32 $26 
Operating cash flows from operating leases339 335 332 
Financing cash flows from financing leases184 171 172 
Right-of-use assets obtained in exchange for lease obligations:
Operating lease liabilities$329 $84 $132 
Finance lease liabilities349 216 4 
Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
As of December 31,
20232024
Operating Leases
Operating lease right-of-use assets$1,241 $1,158 
Operating lease liability, current$190 $175 
Operating lease liabilities, non-current1,550 1,454 
     Total operating lease liabilities$1,740 $1,629 
As of December 31,
20232024
Finance Leases
Property and equipment, at cost$683 $641 
Accumulated depreciation(250)(372)
     Property and equipment, net $433 $269 
Other current liabilities$156 $136 
Other long-term liabilities322 174 
     Total finance leases liabilities$478 $310 
As of December 31,
20232024
Weighted-average remaining lease term
     Operating leases15 years15 years
     Finance leases3 years2 years
Weighted-average discount rate
     Operating leases6.6 %6.7 %
     Finance leases6.3 %6.6 %
Maturities of lease liabilities were as follows (in millions):
As of December 31, 2024
Operating LeasesFinance Leases
2025$271 $174 
2026258 132 
2027235 23 
2028212 1 
2029207 1 
Thereafter1,727 1 
Total undiscounted lease payments2,910 332 
Less: imputed interest(1,281)(22)
Total lease liabilities$1,629 $310 
As of December 31, 2024, additional operating leases and finance leases that have not yet commenced were immaterial.
Mission Bay 1 & 2
We own two adjacent office buildings, Mission Bay 1 & 2, which are located on land for which we have two 76-year land lease agreements (“Land Leases”) ending in 2092. We have a 49% indirect interest in the land (“Indirect Interest”) which are accounted for as a financing arrangement due to our 49% previous ownership in the land and continuing involvement through a purchase option on the land in the Land Leases. As of December 31, 2024, our Indirect Interest is included in property and equipment, net, with the corresponding financing obligation included in other long-term liabilities. The remaining 51% of the Land Leases are accounted for as operating leases. The annual rent amounts under the Land Leases are fixed through 2032, after which, the annual rent amounts will adjust annually based on the prevailing consumer price index.
Future lease payments on the Land Leases as of December 31, 2024, is $1.7 billion; 51% is included in our operating lease commitments, and 49% or $826 million, is allocated to the financing obligation of the Indirect Interest through 2092.