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Leases | 12 Months Ended
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Dec. 31, 2024
Leases |
Leases |
16. | Leases
The Group has operating leases for warehouses, stores, office spaces, delivery centers and other corporate assets that the Group utilizes under lease arrangements. A summary of supplemental information related to operating leases as of December 31, 2023 and 2024 is as follows:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |
|  | (RMB in millions) |
Operating lease ROU assets |  |  | 20,863 |  |  |  | 24,532 |
Operating lease liabilities-current |  |  | 7,755 |  |  |  | 7,606 |
Operating lease liabilities-non-current |  |  | 13,676 |  |  |  | 18,106 |
Total operating lease liabilities |  |  | 21,431 |  |  |  | 25,712 |
Weighted average remaining lease term |  |  | 5.4 years |  |  |  | 7.2 years |
Weighted average discount rate |  |  | 4.7 | % |  |  | 4.2 | %
A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income and supplemental cash flow information related to operating leases is as follows:
|  | For the year ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | (RMB in millions) |
Operating lease cost |  |  | 7,951 |  |  |  | 8,917 |  |  |  | 8,934 |
Short-term lease cost |  |  | 3,181 |  |  |  | 3,358 |  |  |  | 3,263 |
Total |  |  | 11,132 |  |  |  | 12,275 |  |  |  | 12,197 |
Cash paid for operating leases |  |  | 7,915 |  |  |  | 9,086 |  |  |  | 9,546 |
A summary of maturity of operating lease liabilities under the Group’s non-cancelable operating leases as of December 31, 2024 is as follows:
|  | As of December 31, 2024 |
|  | (RMB in millions) |
2025 |  |  | 7,778 |
2026 |  |  | 4,878 |
2027 |  |  | 3,199 |
2028 |  |  | 2,498 |
2029 |  |  | 1,975 |
2030 and thereafter |  |  | 9,568 |
Total lease payments |  |  | 29,896 |
Less: interest |  |  | (4,184 | )
Present value of operating lease liabilities |  |  | 25,712 |
As of December 31, 2024, the Group has no significant lease contract that has been entered into but not yet commenced.

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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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