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Lease Commitments
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease Commitments Lease Commitments
The Company leases office facilities, equipment, and automobiles, whereas of December 31, 2025, all significant leases remaining are classified as operating leases. The classification of leased asset and liability balances within the Consolidated Statements of Financial Position are as follows (in millions):
As of December 3120252024
Assets
Operating lease assetsOperating lease right-of-use assets$677 $711 
Finance lease assetsOther non-current assets — 9 
Total lease assets$677 $720 
Liabilities
Current lease liabilities
   OperatingOther current liabilities$181 $176 
   FinanceOther current liabilities— 15 
Non-current lease liabilities
   OperatingNon-current operating lease liabilities641 685 
   FinanceOther non-current liabilities— — 
Total lease liabilities$822 $876 
The components of lease costs are as follows (in millions):
Years Ended December 31
20252024
Operating lease cost$223 $225 
Finance lease costs
   Amortization of leased assets— 9 
   Interest on lease liabilities— — 
Variable lease cost37 39 
Short-term lease cost (1)
15 15 
Sublease income(5)(5)
Net lease cost$270 $283 
(1) Short-term lease cost does not include expenses related to leases with a lease term of one month or less.
Weighted average remaining lease term and discount rate related to operating and finance leases are as follows:
As of December 3120252024
Weighted average remaining lease term (years)
   Operating leases5.6
6.0
   Finance leases— 0.5
Weighted average discount rate
   Operating leases4.5 %4.2 %
   Finance leases— %1.0 %
Other cash and non-cash related activities are as follows (in millions):
Years Ended December 31
20252024
Cash paid for amounts included in the measurement of lease liabilities
   Operating cash flows for operating leases$241 $193 
   Financing cash flows for finance leases$15 $18 
Non-cash related activities
ROU assets obtained in exchange for new operating lease liabilities$133 $116 
Operating lease ROU asset expense (1)
$160 $186 
Changes in Non-current operating lease liabilities (1)
$(44)$44 
(1)The Company has presented non-cash changes in Operating lease ROU assets and Non-current operating lease liabilities within Other assets and liabilities in Cash flows from operations within the Consolidated Statements of Cash Flows.
Maturity analysis of leases as of December 31, 2025 is as follows (in millions):
2026$206 
2027195 
2028164 
2029118 
203075 
Thereafter172 
Total undiscounted future minimum lease payments930 
Less: Imputed interest(108)
Present value of lease liabilities$822 
Lease Commitments Lease Commitments
The Company leases office facilities, equipment, and automobiles, whereas of December 31, 2025, all significant leases remaining are classified as operating leases. The classification of leased asset and liability balances within the Consolidated Statements of Financial Position are as follows (in millions):
As of December 3120252024
Assets
Operating lease assetsOperating lease right-of-use assets$677 $711 
Finance lease assetsOther non-current assets — 9 
Total lease assets$677 $720 
Liabilities
Current lease liabilities
   OperatingOther current liabilities$181 $176 
   FinanceOther current liabilities— 15 
Non-current lease liabilities
   OperatingNon-current operating lease liabilities641 685 
   FinanceOther non-current liabilities— — 
Total lease liabilities$822 $876 
The components of lease costs are as follows (in millions):
Years Ended December 31
20252024
Operating lease cost$223 $225 
Finance lease costs
   Amortization of leased assets— 9 
   Interest on lease liabilities— — 
Variable lease cost37 39 
Short-term lease cost (1)
15 15 
Sublease income(5)(5)
Net lease cost$270 $283 
(1) Short-term lease cost does not include expenses related to leases with a lease term of one month or less.
Weighted average remaining lease term and discount rate related to operating and finance leases are as follows:
As of December 3120252024
Weighted average remaining lease term (years)
   Operating leases5.6
6.0
   Finance leases— 0.5
Weighted average discount rate
   Operating leases4.5 %4.2 %
   Finance leases— %1.0 %
Other cash and non-cash related activities are as follows (in millions):
Years Ended December 31
20252024
Cash paid for amounts included in the measurement of lease liabilities
   Operating cash flows for operating leases$241 $193 
   Financing cash flows for finance leases$15 $18 
Non-cash related activities
ROU assets obtained in exchange for new operating lease liabilities$133 $116 
Operating lease ROU asset expense (1)
$160 $186 
Changes in Non-current operating lease liabilities (1)
$(44)$44 
(1)The Company has presented non-cash changes in Operating lease ROU assets and Non-current operating lease liabilities within Other assets and liabilities in Cash flows from operations within the Consolidated Statements of Cash Flows.
Maturity analysis of leases as of December 31, 2025 is as follows (in millions):
2026$206 
2027195 
2028164 
2029118 
203075 
Thereafter172 
Total undiscounted future minimum lease payments930 
Less: Imputed interest(108)
Present value of lease liabilities$822