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Leases | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Leases | Leases Lease Expenses The components of lease expenses were as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets (1) | $ | 47 |  |  | $ | 43 |  |  | $ | 91 |  |  | $ | 91 |
Interest on lease liabilities | 31 |  |  | 27 |  |  | 61 |  |  | 55 |
Total finance lease cost | 78 |  |  | 70 |  |  | 152 |  |  | 146 |
Operating lease cost | 60 |  |  | 56 |  |  | 118 |  |  | 112 |
Variable lease cost | 19 |  |  | 20 |  |  | 41 |  |  | 37 |
Total lease cost | $ | 157 |  |  | $ | 146 |  |  | $ | 311 |  |  | $ | 295 |
(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 our condensed consolidated statements of operations. Other Information Other information related to leases is presented in the following tables (in millions):
| Six Months Ended June 30,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from finance leases | $ | 59 |  |  | $ | 53 |
Operating cash flows from operating leases | 110 |  |  | 101 |
Financing cash flows from finance leases | 72 |  |  | 66 |
Right-of-use assets obtained in exchange for lease obligations: (1) |  |  |
Finance leases | $ | 88 |  |  | $ | 87 |
Operating leases | 70 |  |  | 34 |
| June 30, 2025 |  | December 31, 2024
Weighted-average remaining lease term - finance leases (2) | 14 years |  | 14 years
Weighted-average remaining lease term - operating leases (2) | 13 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) | $ | 2,263 |  |  | $ | 2,158 |
(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 June 30, 2025 and December 31, 2024, we have recorded accumulated amortization of finance lease right-of-use assets of $1.1 billion and $964 million, respectively. Finance lease assets are recorded within property, plant and equipment, net in our condensed consolidated balance sheets. Maturities of Lease Liabilities The maturities of our lease liabilities as of June 30, 2025 are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2025 (6 months remaining) | $ | 109 |  |  | $ | 189 |  |  | $ | 298 |
2026 | 231 |  |  | 272 |  |  | 503 |
2027 | 212 |  |  | 277 |  |  | 489 |
2028 | 181 |  |  | 265 |  |  | 446 |
2029 | 152 |  |  | 256 |  |  | 408 |
Thereafter | 1,223 |  |  | 2,159 |  |  | 3,382 |
Total lease payments | 2,108 |  |  | 3,418 |  |  | 5,526 |
Less imputed interest | (572) |  |  | (1,038) |  |  | (1,610) |
Total | $ | 1,536 |  |  | $ | 2,380 |  |  | $ | 3,916 |
We entered into agreements with various landlords, primarily to lease data center spaces, which have not yet commenced as of June 30, 2025. These leases are expected to commence between 2025 and 2027, with lease terms of 1 to 15 years and total lease commitments of approximately $103 million.
Leases | Leases Lease Expenses The components of lease expenses were as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets (1) | $ | 47 |  |  | $ | 43 |  |  | $ | 91 |  |  | $ | 91 |
Interest on lease liabilities | 31 |  |  | 27 |  |  | 61 |  |  | 55 |
Total finance lease cost | 78 |  |  | 70 |  |  | 152 |  |  | 146 |
Operating lease cost | 60 |  |  | 56 |  |  | 118 |  |  | 112 |
Variable lease cost | 19 |  |  | 20 |  |  | 41 |  |  | 37 |
Total lease cost | $ | 157 |  |  | $ | 146 |  |  | $ | 311 |  |  | $ | 295 |
(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 our condensed consolidated statements of operations. Other Information Other information related to leases is presented in the following tables (in millions):
| Six Months Ended June 30,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from finance leases | $ | 59 |  |  | $ | 53 |
Operating cash flows from operating leases | 110 |  |  | 101 |
Financing cash flows from finance leases | 72 |  |  | 66 |
Right-of-use assets obtained in exchange for lease obligations: (1) |  |  |
Finance leases | $ | 88 |  |  | $ | 87 |
Operating leases | 70 |  |  | 34 |
| June 30, 2025 |  | December 31, 2024
Weighted-average remaining lease term - finance leases (2) | 14 years |  | 14 years
Weighted-average remaining lease term - operating leases (2) | 13 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) | $ | 2,263 |  |  | $ | 2,158 |
(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 June 30, 2025 and December 31, 2024, we have recorded accumulated amortization of finance lease right-of-use assets of $1.1 billion and $964 million, respectively. Finance lease assets are recorded within property, plant and equipment, net in our condensed consolidated balance sheets. Maturities of Lease Liabilities The maturities of our lease liabilities as of June 30, 2025 are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2025 (6 months remaining) | $ | 109 |  |  | $ | 189 |  |  | $ | 298 |
2026 | 231 |  |  | 272 |  |  | 503 |
2027 | 212 |  |  | 277 |  |  | 489 |
2028 | 181 |  |  | 265 |  |  | 446 |
2029 | 152 |  |  | 256 |  |  | 408 |
Thereafter | 1,223 |  |  | 2,159 |  |  | 3,382 |
Total lease payments | 2,108 |  |  | 3,418 |  |  | 5,526 |
Less imputed interest | (572) |  |  | (1,038) |  |  | (1,610) |
Total | $ | 1,536 |  |  | $ | 2,380 |  |  | $ | 3,916 |
We entered into agreements with various landlords, primarily to lease data center spaces, which have not yet commenced as of June 30, 2025. These leases are expected to commence between 2025 and 2027, with lease terms of 1 to 15 years and total lease commitments of approximately $103 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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