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Leases | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leases | 13. Leases The following table presents components of lease cost included in general and administration expense on the consolidated statements of income:
(in millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Lease cost: |  |  |  |  |  |  |  |  |
Operating lease cost(1) |  | $ | 233 |  |  | $ | 183 |  |  | $ | 189 |
Variable lease cost(2) |  |  | 69 |  |  |  | 60 |  |  |  | 49 |
Total lease cost |  | $ | 302 |  |  | $ | 243 |  |  | $ | 238 |
(1) Amounts include short-term leases, which are immaterial for 2025, 2024 and 2023. (2) Amounts include operating lease payments, which may be adjusted based on usage, changes in an index or market rate, as well as common area maintenance charges and other variable costs not included in the measurement of ROU assets and operating lease liabilities. Supplemental information related to operating leases is summarized below:
(in millions) | 2025 |  |  | 2024 |  |  | 2023 |
Supplemental cash flow information: |  |  |  |  |  |  |  |
Operating cash flows from operating leases included in the measurement of operating lease liabilities | $ | 210 |  |  | $ | 183 |  |  | $ | 142 |
Supplemental noncash information: |  |  |  |  |  |  |  |
ROU assets in exchange for operating lease liabilities(1) | $ | 489 |  |  | $ | 235 |  |  | $ | 32 |
(1) Amount for 2025 includes $178 million of ROU assets obtained in connection with the HPS Transaction. Amount for 2024 includes $75 million of ROU assets obtained in connection with the GIP Transaction. See Note 3, Acquisitions, for further information.
| December 31, 2025 | December 31, 2024
Lease term and discount rate: |  |  |  |  |  |
Weighted-average remaining lease term |  | 13 |  | years |  | 14 |  | years
Weighted-average discount rate |  | 4 |  | % |  | 3 |  | %
(in millions) |  |  |
Maturity of operating lease liabilities at December 31, 2025 |  | Amount |
2026 |  | $ | 237 |
2027 |  |  | 246 |
2028 |  |  | 239 |
2029 |  |  | 227 |
2030 |  |  | 218 |
Thereafter |  |  | 1,617 |
Total lease payments |  |  | 2,784 |
Less: Imputed interest |  |  | (556 | )
Present value of lease liabilities |  | $ | 2,228 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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