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LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
The Company has operating and finance leases for transponders, office space, studio facilities, software, and other equipment. The Company’s leases were reflected in the Company’s consolidated balance sheets as follows (in millions).
December 31,
20242023
Operating LeasesLocation on Balance Sheet
Operating lease right-of-use assetsOther noncurrent assets$2,373 $3,074 
Operating lease liabilities (current)Accrued liabilities$307 $332 
Operating lease liabilities (noncurrent)Other noncurrent liabilities2,731 3,019 
Total operating lease liabilities$3,038 $3,351 
Finance Leases
Finance lease right-of-use assetsProperty and equipment, net$432 $249 
Finance lease liabilities (current)Accrued liabilities$107 $74 
Finance lease liabilities (noncurrent)Other noncurrent liabilities356 191 
Total finance lease liabilities$463 $265 
Supplemental information related to leases was as follows.
December 31,
20242023
Weighted average remaining lease term (in years):
Operating leases1111
Finance leases65
Weighted average discount rate
Operating leases4.43 %4.42 %
Finance leases5.11 %4.17 %
The Company’s leases have remaining lease terms of up to 28 years, some of which include multiple options to extend the leases for up to a total of 20 years. Most leases are not cancelable prior to their expiration.
The components of lease cost were as follows (in millions):
Year Ended December 31,
202420232022
Operating lease cost$441 $540 $372 
Finance lease cost:
Amortization of right-of-use assets$111 $85 $78 
Interest on lease liabilities19 8 8 
Total finance lease cost$130 $93 $86 
Variable fees and other(a)
$44 $74 $66 
Total lease cost $615 $707 $524 
(a) Includes variable lease payments related to our operating and finance leases and costs of leases with initial terms of less than one year.
Supplemental cash flow information related to leases was as follows (in millions):
Year Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(476)$(501)$(360)
Operating cash flows from finance leases$(19)$(19)$(15)
Financing cash flows from finance leases$(95)$(74)$(70)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$78 $364 $490 
Finance leases$300 $95 $39 
Maturities of lease liabilities as of December 31, 2024 were as follows (in millions):
Operating LeasesFinance Leases
2025$432 $130 
2026377 112 
2027349 91 
2028338 57 
2029334 30 
Thereafter2,072 115 
Total lease payments3,902 535 
Less: Imputed interest(864)(72)
Total$3,038 $463 
During the year ended December 31, 2024, ROU asset impairment charges were $411 million and were primarily related to impairments of the Company’s Hudson Yards, New York office as a result of recoverability tests performed during the year as subleases for the office were executed. The impairment charges were recorded in impairment and loss on dispositions in the consolidated statements of operations.
As of December 31, 2024, the Company has additional leases that have not yet commenced with total minimum lease payments of approximately $66 million.
LEASES LEASES
The Company has operating and finance leases for transponders, office space, studio facilities, software, and other equipment. The Company’s leases were reflected in the Company’s consolidated balance sheets as follows (in millions).
December 31,
20242023
Operating LeasesLocation on Balance Sheet
Operating lease right-of-use assetsOther noncurrent assets$2,373 $3,074 
Operating lease liabilities (current)Accrued liabilities$307 $332 
Operating lease liabilities (noncurrent)Other noncurrent liabilities2,731 3,019 
Total operating lease liabilities$3,038 $3,351 
Finance Leases
Finance lease right-of-use assetsProperty and equipment, net$432 $249 
Finance lease liabilities (current)Accrued liabilities$107 $74 
Finance lease liabilities (noncurrent)Other noncurrent liabilities356 191 
Total finance lease liabilities$463 $265 
Supplemental information related to leases was as follows.
December 31,
20242023
Weighted average remaining lease term (in years):
Operating leases1111
Finance leases65
Weighted average discount rate
Operating leases4.43 %4.42 %
Finance leases5.11 %4.17 %
The Company’s leases have remaining lease terms of up to 28 years, some of which include multiple options to extend the leases for up to a total of 20 years. Most leases are not cancelable prior to their expiration.
The components of lease cost were as follows (in millions):
Year Ended December 31,
202420232022
Operating lease cost$441 $540 $372 
Finance lease cost:
Amortization of right-of-use assets$111 $85 $78 
Interest on lease liabilities19 8 8 
Total finance lease cost$130 $93 $86 
Variable fees and other(a)
$44 $74 $66 
Total lease cost $615 $707 $524 
(a) Includes variable lease payments related to our operating and finance leases and costs of leases with initial terms of less than one year.
Supplemental cash flow information related to leases was as follows (in millions):
Year Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(476)$(501)$(360)
Operating cash flows from finance leases$(19)$(19)$(15)
Financing cash flows from finance leases$(95)$(74)$(70)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$78 $364 $490 
Finance leases$300 $95 $39 
Maturities of lease liabilities as of December 31, 2024 were as follows (in millions):
Operating LeasesFinance Leases
2025$432 $130 
2026377 112 
2027349 91 
2028338 57 
2029334 30 
Thereafter2,072 115 
Total lease payments3,902 535 
Less: Imputed interest(864)(72)
Total$3,038 $463 
During the year ended December 31, 2024, ROU asset impairment charges were $411 million and were primarily related to impairments of the Company’s Hudson Yards, New York office as a result of recoverability tests performed during the year as subleases for the office were executed. The impairment charges were recorded in impairment and loss on dispositions in the consolidated statements of operations.
As of December 31, 2024, the Company has additional leases that have not yet commenced with total minimum lease payments of approximately $66 million.