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Leases | 3 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
Leases | Leases There were no significant lease transactions during the three months ended March 31, 2024. Lease Expenses The components of lease expenses are as follows (in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets (1) | $ | 48 |  |  | $ | 43 |  |  |  |  |
Interest on lease liabilities | 28 |  |  | 28 |  |  |  |  |
Total finance lease cost | 76 |  |  | 71 |  |  |  |  |
Operating lease cost | 56 |  |  | 53 |  |  |  |  |
Variable lease cost | 16 |  |  | 13 |  |  |  |  |
Total lease cost | $ | 148 |  |  | $ | 137 |  |  |  |  |
(1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations. Other Information Other information related to leases is as follows (in millions, except years and percent):
| Three Months Ended March 31,
| 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from finance leases | $ | 26 |  |  | $ | 27 |
Operating cash flows from operating leases | 50 |  |  | 52 |
Financing cash flows from finance leases | 31 |  |  | 36 |
Right-of-use assets obtained in exchange for lease obligations: (1) |  |  |
Finance leases | $ | 30 |  |  | $ | — |
Operating leases | 4 |  |  | 5 |
| March 31, 2024 |  | December 31, 2023
Weighted-average remaining lease term - finance leases (2) | 14 years |  | 14 years
Weighted-average remaining lease term - operating leases (2) | 12 years |  | 12 years
Weighted-average discount rate - finance leases | 6 | % |  | 6 | %
Weighted-average discount rate - operating leases | 5 | % |  | 5 | %
Finance lease right-of-use assets (3) | $ | 2,136 |  |  | $ | 2,184 |
(1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2024 and December 31, 2023, we recorded accumulated amortization of finance lease right-of-use assets of $889 million and $870 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets. Maturities of Lease Liabilities Maturities of lease liabilities as of March 31, 2024 are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2024 (9 months remaining) | $ | 143 |  |  | $ | 188 |  |  | $ | 331 |
2025 | 203 |  |  | 281 |  |  | 484 |
2026 | 195 |  |  | 245 |  |  | 440 |
2027 | 176 |  |  | 250 |  |  | 426 |
2028 | 150 |  |  | 238 |  |  | 388 |
Thereafter | 1,075 |  |  | 2,077 |  |  | 3,152 |
Total lease payments | 1,942 |  |  | 3,279 |  |  | 5,221 |
Less imputed interest | (526) |  |  | (1,056) |  |  | (1,582) |
Total | $ | 1,416 |  |  | $ | 2,223 |  |  | $ | 3,639 |
We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2024. These leases will commence between year 2024 and 2026, with lease terms of 3 to 33 years and total lease commitments of approximately $533 million.
Leases | Leases There were no significant lease transactions during the three months ended March 31, 2024. Lease Expenses The components of lease expenses are as follows (in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets (1) | $ | 48 |  |  | $ | 43 |  |  |  |  |
Interest on lease liabilities | 28 |  |  | 28 |  |  |  |  |
Total finance lease cost | 76 |  |  | 71 |  |  |  |  |
Operating lease cost | 56 |  |  | 53 |  |  |  |  |
Variable lease cost | 16 |  |  | 13 |  |  |  |  |
Total lease cost | $ | 148 |  |  | $ | 137 |  |  |  |  |
(1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations. Other Information Other information related to leases is as follows (in millions, except years and percent):
| Three Months Ended March 31,
| 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from finance leases | $ | 26 |  |  | $ | 27 |
Operating cash flows from operating leases | 50 |  |  | 52 |
Financing cash flows from finance leases | 31 |  |  | 36 |
Right-of-use assets obtained in exchange for lease obligations: (1) |  |  |
Finance leases | $ | 30 |  |  | $ | — |
Operating leases | 4 |  |  | 5 |
| March 31, 2024 |  | December 31, 2023
Weighted-average remaining lease term - finance leases (2) | 14 years |  | 14 years
Weighted-average remaining lease term - operating leases (2) | 12 years |  | 12 years
Weighted-average discount rate - finance leases | 6 | % |  | 6 | %
Weighted-average discount rate - operating leases | 5 | % |  | 5 | %
Finance lease right-of-use assets (3) | $ | 2,136 |  |  | $ | 2,184 |
(1) Represents all non-cash changes in right-of-use assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of March 31, 2024 and December 31, 2023, we recorded accumulated amortization of finance lease right-of-use assets of $889 million and $870 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets. Maturities of Lease Liabilities Maturities of lease liabilities as of March 31, 2024 are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2024 (9 months remaining) | $ | 143 |  |  | $ | 188 |  |  | $ | 331 |
2025 | 203 |  |  | 281 |  |  | 484 |
2026 | 195 |  |  | 245 |  |  | 440 |
2027 | 176 |  |  | 250 |  |  | 426 |
2028 | 150 |  |  | 238 |  |  | 388 |
Thereafter | 1,075 |  |  | 2,077 |  |  | 3,152 |
Total lease payments | 1,942 |  |  | 3,279 |  |  | 5,221 |
Less imputed interest | (526) |  |  | (1,056) |  |  | (1,582) |
Total | $ | 1,416 |  |  | $ | 2,223 |  |  | $ | 3,639 |
We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2024. These leases will commence between year 2024 and 2026, with lease terms of 3 to 33 years and total lease commitments of approximately $533 million.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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