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Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Balances and Classification of Operating Lease Right-of-Use Assets and Operating Lease Liabilities within Condensed Consolidated Balance Sheets The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Consolidated Balance Sheets as of December 31, 2025 and 2024 is as follows:

 

(in millions)

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Balance Sheet

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

 Operating lease assets

 

$

269

 

 

$

200

 

Total assets

 

 

 

 

269

 

 

 

200

 

Liabilities:

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

 Accrued expenses and other liabilities

 

 

62

 

 

 

47

 

Non-current operating lease liabilities

 

 Operating lease liabilities

 

 

243

 

 

 

189

 

Total liabilities

 

 

 

$

305

 

 

$

236

 

Schedule of Components of Lease Cost for Operating Leases

The components of lease cost for operating leases for the 12 months ended December 31, 2025 and 2024 were:

 

(in millions)

 

 

 

For the year
ended December 31, 2025

 

 

For the year
ended December 31, 2024

 

Operating leases:

 

 

 

 

 

 

 

 

Lease cost

 

 

 

$

68

 

 

$

59

 

Variable lease cost

 

 

 

 

6

 

 

 

5

 

Short-term lease cost

 

 

 

 

1

 

 

 

1

 

Operating lease cost

 

 

 

 

75

 

 

 

65

 

Sublease income

 

 

 

 

(1

)

 

 

(1

)

Total lease cost net

 

 

 

$

74

 

 

$

64

 

Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Operating Leases

The weighted average remaining lease term and the weighted average discount rate for operating leases as of December 31, 2025 were:

 

Weighted average remaining lease term

 

 

5.9

 

Weighted average discount rate

 

 

4.07

%

 

Schedule of Maturities of Operating Lease Liabilities

Maturities of the operating lease liabilities by fiscal year at December 31, 2025 for the Company's operating leases are as follows:

 

(in millions)

 

Operating Leases

 

2026

 

$

72

 

2027

 

 

67

 

2028

 

 

54

 

2029

 

 

42

 

2030

 

 

32

 

Thereafter

 

 

73

 

Total undiscounted lease payments

 

 

340

 

Less: Imputed interest

 

 

35

 

Present value of future lease payments

 

$

305

 

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information for operating leases:

 

(in millions)

For the year
ended December 31, 2025

 

 

For the year
ended December 31, 2024

 

Cash paid for amounts included in measurement of liabilities

 

 

 

 

 

Operating cash flows from operating leases

$

73

 

 

$

62

 

Right-of-use assets obtained in exchange for new operating
   liabilities

$

42

 

 

$

44