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Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases |
16. | LEASES
The Group’s operating leases mainly related to land, offices facilities, IDC facilities and vehicles. For leases with terms greater than 12 months, the Group records the related asset and obligation at the present value of lease payments over the term. Certain leases include rental escalation clauses, renewal options and/or termination options that are factored into the Group’s determination of lease payments when appropriate. As of December 31, 2023, finance leases were insignificant. As of December 31, 2022 and 2023, the Group’s operating leases had a weighted average remaining lease term of 14.8 years and 13.6 years, respectively. As of December 31, 2022 and 2023, the Group’s operating leases had a weighted average discount rate of 4.30% and 4.07%, respectively. Operating lease costs were RMB3.2 billion, RMB3.5 billion and RMB3.5 billion (US$498 million) for the years ended December 31, 2021, 2022 and 2023, respectively, which excluded short-term lease costs. Short-term lease costs were RMB475 million, RMB424 million and RMB547 million (US$77 million) for the years ended December 31, 2021, 2022 and 2023, respectively. Variable lease cost was immaterial for the years ended December 31, 2021, 2022 and 2023. For the years ended December 31, 2021, 2022 and 2023, no lease costs for operating or finance leases were capitalized. Supplemental cash flow information related to operating leases was as follows:
|  | For the years ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
|  | (In millions) |
Cash payments for operating leases |  |  | 3,014 |  |  |  | 3,463 |  |  |  | 488 |
ROU assets obtained in exchange for operating lease liabilities |  |  | 2,559 |  |  |  | 3,938 |  |  |  | 555 |
Future lease payments under operating leases as of December 31, 2023 were as follows:
|  | Operating leases |
|  | RMB |  |  | US$ |
|  | (In millions) |
Year ending December 31, |  |  |  |  |  |  |  |
2024 |  |  | 3,182 |  |  |  | 448 |
2025 |  |  | 2,298 |  |  |  | 324 |
2026 |  |  | 1,664 |  |  |  | 234 |
2027 |  |  | 1,032 |  |  |  | 145 |
2028 |  |  | 291 |  |  |  | 41 |
Thereafter |  |  | 324 |  |  |  | 46 |
Total future lease payments |  |  | 8,791 |  |  |  | 1,238 |
Less: Imputed interest |  |  | 643 |  |  |  | 90 |
Total lease liability balance |  |  | 8,148 |  |  |  | 1,148 |
As of December 31, 2023, additional operating leases that have not yet commenced were immaterial.

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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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