v3.25.4

Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Leases [Abstract] |
Schedule of Components of Leases | Components of leases are as follows (in millions):
|  | December 31, |
|  | 2025 |  |  | 2024 |
Current portion of lease liabilities: |  |  |  |  |  |
Operating |  | $ | 71 |  |  | $ | 72 |
Financing |  |  | 30 |  |  |  | 30 |
Total |  | $ | 101 |  |  | $ | 102 |
|  | December 31, |
|  | 2025 |  |  | 2024 |
Long-term portion of lease liability: |  |  |  |  |  |
Operating |  | $ | 289 |  |  | $ | 301 |
Financing |  |  | 232 |  |  |  | 243 |
Total |  | $ | 521 |  |  | $ | 544 |
Components of Lease Expense | Components of lease expense were as follows (in millions):
|  | Year Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Lease cost |  |  |  |  |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 32 |  |  | $ | 28 |  |  | $ | 23 |
Interest on lease liabilities |  |  | 12 |  |  |  | 10 |  |  |  | 10 |
Operating lease cost |  |  | 90 |  |  |  | 90 |  |  |  | 85 |
Short-term lease cost |  |  | 59 |  |  |  | 69 |  |  |  | 77 |
Sub-lease income |  |  | (8 | ) |  |  | (6 | ) |  |  | (8 | )
Total |  | $ | 185 |  |  | $ | 191 |  |  | $ | 187 |
Schedule of Supplemental information Related to Leases | Supplemental information related to the Company’s leases is as follows (in millions):
|  | Year Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Other information: |  |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows - finance leases |  | $ | 12 |  |  | $ | 10 |  |  | $ | 10 |
Operating cash flows - operating leases |  |  | 90 |  |  |  | 90 |  |  |  | 85 |
Financing cash flows - finance leases |  |  | 28 |  |  |  | 28 |  |  |  | 23 |
Right-of-use assets obtained in exchange for new: |  |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | 34 |  |  | $ | 65 |  |  | $ | 68 |
Finance lease liabilities |  |  | 57 |  |  |  | 28 |  |  |  | 27 |
Weighted average remaining lease term at December 31, 2025: |  |  |  |  |  |  |  |  |
Operating leases |  | 10 years |  |  | 11 years |  |  | 10 years |
Finance leases |  | 16 years |  |  | 16 years |  |  | 16 years |
Weighted average discount rate at December 31, 2025: |  |  |  |  |  |  |  |  |
Operating leases |  |  | 5.08 | % |  |  | 5.25 | % |  |  | 5.17 | %
Finance leases |  |  | 3.62 | % |  |  | 4.42 | % |  |  | 4.15 | %
Future Minimum Lease Commitments for Leases with Initial or Remaining Terms of One Year or More | Future minimum lease commitments for leases with initial or remaining terms of one year or more at December 31, 2025, are payable as follows (in millions):
|  | Operating |  |  | Finance |
2026 |  | $ | 83 |  |  | $ | 39 |
2027 |  |  | 66 |  |  |  | 32 |
2028 |  |  | 55 |  |  |  | 25 |
2029 |  |  | 42 |  |  |  | 20 |
2030 |  |  | 32 |  |  |  | 17 |
Thereafter |  |  | 130 |  |  |  | 153 |
Total lease payments |  |  | 408 |  |  |  | 286 |
Less: Interest |  |  | (48 | ) |  |  | (24 | )
Present value of lease liabilities |  | $ | 360 |  |  | $ | 262 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Subparagraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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