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LEASES
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
LEASES LEASES
The Company leases certain fulfillment, cross-docking and services centers, office space, aircraft, aircraft hangars, machines, and vehicles in the various countries in which it operates. The lease agreements do not contain any residual value guarantees or material restrictive covenants.
Supplemental balance sheet information related to leases was as follows:
September 30, 2025December 31, 2024
(In millions)
Operating Leases
Operating lease right-of-use assets$2,042 $1,098 
Operating lease liabilities$2,037 $1,135 
Finance Leases
Property and equipment, at cost$228 $200 
Accumulated depreciation(115)(77)
Property and equipment, net$113 $123 
Loans payable and other financial liabilities$112 $122 
The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
Weighted average remaining lease term
Operating leases8 Years8 Years
Finance leases3 Years3 Years
Weighted average discount rate (1)
Operating leases10 %10 %
Finance leases15 %10 %
(1) Includes discount rates of leases in local currency and U.S. dollar.
The components of lease expense were as follows:
Nine Months Ended
September 30,
20252024
(In millions)
Operating lease cost$308 $147 
Finance lease cost:
Depreciation of property and equipment$32 $25 
Interest on lease liabilities9 12 
Total finance lease cost $41 $37 
The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates and internal rates of return to calculate the lease liabilities for the operating and finance leases, respectively:
Period EndingOperating LeasesFinance Leases
(In millions)
One year or less$424 $48 
One year to two years401 47 
Two years to three years382 29 
Three years to four years348 7 
Four years to five years298 — 
Thereafter1,152 — 
Total lease payments3,005 131 
Less imputed interest(968)(19)
Total$2,037 $112 
LEASES LEASES
The Company leases certain fulfillment, cross-docking and services centers, office space, aircraft, aircraft hangars, machines, and vehicles in the various countries in which it operates. The lease agreements do not contain any residual value guarantees or material restrictive covenants.
Supplemental balance sheet information related to leases was as follows:
September 30, 2025December 31, 2024
(In millions)
Operating Leases
Operating lease right-of-use assets$2,042 $1,098 
Operating lease liabilities$2,037 $1,135 
Finance Leases
Property and equipment, at cost$228 $200 
Accumulated depreciation(115)(77)
Property and equipment, net$113 $123 
Loans payable and other financial liabilities$112 $122 
The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
Weighted average remaining lease term
Operating leases8 Years8 Years
Finance leases3 Years3 Years
Weighted average discount rate (1)
Operating leases10 %10 %
Finance leases15 %10 %
(1) Includes discount rates of leases in local currency and U.S. dollar.
The components of lease expense were as follows:
Nine Months Ended
September 30,
20252024
(In millions)
Operating lease cost$308 $147 
Finance lease cost:
Depreciation of property and equipment$32 $25 
Interest on lease liabilities9 12 
Total finance lease cost $41 $37 
The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates and internal rates of return to calculate the lease liabilities for the operating and finance leases, respectively:
Period EndingOperating LeasesFinance Leases
(In millions)
One year or less$424 $48 
One year to two years401 47 
Two years to three years382 29 
Three years to four years348 7 
Four years to five years298 — 
Thereafter1,152 — 
Total lease payments3,005 131 
Less imputed interest(968)(19)
Total$2,037 $112