v3.25.4

Leases | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leases | Leases The components of lease expense included in Income (Loss) before Income Taxes for the years ended December 31, 2025, 2024 and 2023 are as follows:
(In millions) | 2025 |  | 2024 |  | 2023
Operating Lease Expense | $ | 318 |  |  | $ | 326 |  |  | $ | 302 |
Finance Lease Expense: |  |  |  |  |
Amortization of ROU assets | 13 |  |  | 12 |  |  | 12 |
Interest on lease liabilities | 21 |  |  | 21 |  |  | 20 |
Short Term Lease Expense | 13 |  |  | 11 |  |  | 11 |
Variable Lease Expense | 3 |  |  | 5 |  |  | 3 |
Sublease Income | (9) |  |  | (9) |  |  | (10) |
Total Lease Expense | $ | 359 |  |  | $ | 366 |  |  | $ | 338 |
Supplemental cash flow information related to leases for the years ended December 31, 2025, 2024 and 2023 is as follows:
(In millions) | 2025 |  | 2024 |  | 2023
Cash Paid for Amounts Included in the Measurement of Lease Liabilities |  |  |  |  |
Operating Cash Flows for Operating Leases | $ | 287 |  |  | $ | 277 |  |  | $ | 278 |
Operating Cash Flows for Finance Leases | 21 |  |  | 21 |  |  | 20 |
Financing Cash Flows for Finance Leases | 11 |  |  | 10 |  |  | 8 |
ROU Assets Obtained in Exchange for Lease Obligations |  |  |  |  |
Operating Leases | 155 |  |  | 223 |  |  | 218 |
Finance Leases | 2 |  |  | 2 |  |  | 17 |
Supplemental balance sheet information related to leases as of December 31, 2025 and 2024 is as follows:
(In millions, except lease term and discount rate) | 2025 |  | 2024
Operating Leases |  |  |
Operating Lease ROU Assets | $ | 998 |  |  | $ | 951 |
Operating Lease Liabilities due Within One Year | $ | 196 |  |  | $ | 200 |
Operating Lease Liabilities | 862 |  |  | 804 |
Total Operating Lease Liabilities | $ | 1,058 |  |  | $ | 1,004 |
Finance Leases |  |  |
Property, Plant and Equipment, at cost | $ | 299 |  |  | $ | 285 |
Accumulated Depreciation | (105) |  |  | (89) |
Property, Plant and Equipment, net | $ | 194 |  |  | $ | 196 |
Long Term Debt and Finance Leases due Within One Year | $ | 11 |  |  | $ | 10 |
Long Term Debt and Finance Leases | 250 |  |  | 251 |
Total Finance Lease Liabilities | $ | 261 |  |  | $ | 261 |
Weighted Average Remaining Lease Term (years) |  |  |
Operating Leases | 8.7 |  | 6.9
Finance Leases | 26.3 |  | 27.1
Weighted Average Discount Rate |  |  |
Operating Leases | 7.75 | % |  | 7.45 | %
Finance Leases | 8.26 | % |  | 8.23 | %
Future maturities of our lease liabilities, excluding subleases, as of December 31, 2025 are as follows:
(In millions) | Operating Leases |  | Finance Leases
2026 | $ | 264 |  |  | $ | 30 |
2027 | 226 |  |  | 29 |
2028 | 178 |  |  | 28 |
2029 | 144 |  |  | 30 |
2030 | 120 |  |  | 25 |
Thereafter | 487 |  |  | 568 |
Total Lease Payments | 1,419 |  |  | 710 |
Less: Imputed Interest | 361 |  |  | 449 |
Total | $ | 1,058 |  |  | $ | 261 |
As of December 31, 2025, we have additional operating and finance leases that have not yet commenced for which the present value of lease payments over the respective lease terms totals $76 million. Accordingly, these leases are not recorded on the Consolidated Balance Sheets at December 31, 2025. These leases will commence in 2027 with lease terms of 12 to 30 years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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