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Leasing Arrangements (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Components of Net Lease Cost, and Supplemental Disclosure for Statement of Cash Flows related to Operating and Finance Leases | The components of net lease cost were as follows:
|  | (dollars in millions)
Years Ended December 31, | Classification | 2024 |  | 2023 |  | 2022
Operating lease cost(1) | Cost of services Selling, general and administrative expense | $ | 5,607 |  |  | $ | 5,432 |  |  | $ | 5,345 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets | Depreciation and amortization expense | 329 |  |  | 259 |  |  | 224 |
Interest on lease liabilities | Interest expense | 98 |  |  | 69 |  |  | 36 |
Short-term lease cost(1) | Cost of services Selling, general and administrative expense | 21 |  |  | 29 |  |  | 23 |
Variable lease cost(1) | Cost of services Selling, general and administrative expense | 310 |  |  | 313 |  |  | 294 |
Sublease income | Service revenues and other | (216) |  |  | (210) |  |  | (199) |
Total net lease cost |  | $ | 6,149 |  |  | $ | 5,892 |  |  | $ | 5,723 |
(1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statements of cash flows related to operating and finance leases were as follows:
| (dollars in millions)
Years Ended December 31, | 2024 |  | 2023 |  | 2022
Cash Flows from Operating Activities |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows for operating leases | $ | (5,067) |  |  | $ | (4,929) |  |  | $ | (4,490) |
Operating cash flows for finance leases | (98) |  |  | (69) |  |  | (36) |
Cash Flows from Financing Activities |  |  |  |  |
Financing cash flows for finance leases | (794) |  |  | (612) |  |  | (449) |
Supplemental lease cash flow disclosures |  |  |  |  |
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | 4,385 |  |  | 2,634 |  |  | 2,392 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 1,051 |  |  | 968 |  |  | 832 |
Supplemental Disclosure for Balance Sheet related to Finance Leases | Supplemental disclosures for the balance sheet related to finance leases were as follows:
| (dollars in millions)
At December 31, | 2024 |  | 2023
Assets |  |  |
Property, plant and equipment, net | $ | 1,692 |  |  | $ | 1,459 |
Liabilities |  |  |
Debt maturing within one year | $ | 894 |  |  | $ | 753 |
Long-term debt | 1,455 |  |  | 1,338 |
Total Finance lease liabilities | $ | 2,349 |  |  | $ | 2,091 |
Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate related to Leases | The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows:
At December 31, | 2024 |  | 2023
Weighted-average remaining lease term (years) |  |  |
Operating leases | 8 |  | 8
Finance leases | 3 |  | 3
Weighted-average discount rate |  |  |
Operating leases | 4.1 | % |  | 3.6 | %
Finance leases | 4.8 | % |  | 2.9 | %
Lessee, Operating Lease, Liability, Maturity | The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024:
|  |  | (dollars in millions)
Years | Operating Leases |  | Finance Leases
2025 | $ | 5,013 |  |  | $ | 954 |
2026 | 4,685 |  |  | 714 |
2027 | 4,392 |  |  | 457 |
2028 | 3,004 |  |  | 248 |
2029 | 2,505 |  |  | 116 |
Thereafter | 9,451 |  |  | 53 |
Total lease payments | 29,050 |  |  | 2,542 |
Less interest | 4,707 |  |  | 193 |
Present value of lease liabilities | 24,343 |  |  | 2,349 |
Less current obligation | 4,415 |  |  | 894 |
Long-term obligation at December 31, 2024 | $ | 19,928 |  |  | $ | 1,455 |
Finance Lease, Liability, Maturity | The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024:
|  |  | (dollars in millions)
Years | Operating Leases |  | Finance Leases
2025 | $ | 5,013 |  |  | $ | 954 |
2026 | 4,685 |  |  | 714 |
2027 | 4,392 |  |  | 457 |
2028 | 3,004 |  |  | 248 |
2029 | 2,505 |  |  | 116 |
Thereafter | 9,451 |  |  | 53 |
Total lease payments | 29,050 |  |  | 2,542 |
Less interest | 4,707 |  |  | 193 |
Present value of lease liabilities | 24,343 |  |  | 2,349 |
Less current obligation | 4,415 |  |  | 894 |
Long-term obligation at December 31, 2024 | $ | 19,928 |  |  | $ | 1,455 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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