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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Summary of Lease Costs and Other Information
The following table presents lease cost and other information (in millions):
Year ended December 31,
202420232022
Lease cost
Operating lease cost$43 $42 $41 
Variable lease cost36 35 27 
Sublease income(1)(1)(1)
Total lease cost$78 $76 $67 
Other information
Operating cash flows used for operating leases$43 $42 $41 
Weighted-average remaining lease term - operating leases46 years46 years47 years
Weighted-average discount rate - operating leases5.3 %5.3 %5.3 %
Summary of Reconciliation of Total Lease Payments, on Undiscounted Basis, to Lease Liability on Balance Sheet
The following table presents a reconciliation of the total amount of minimum lease payments, on an undiscounted basis, to the lease liability on the balance sheet as of December 31, 2024 (in millions):
As of December 31, 2024
Ground LeasesOffice Leases and OtherTotal
Weighted-average discount rate - operating leases5.4 %3.7 %5.3 %
2025$31 $7 $38 
202631 6 37 
202731 5 36 
202831 5 36 
202931 5 36 
Thereafter1,325 33 1,358 
Total undiscounted cash flows$1,480 $61 $1,541 
Present values
Long-term lease liabilities$511 $49 $560 
Total lease liabilities$511 $49 $560 
Difference between undiscounted cash flows and discounted cash flows$969 $12 $981