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Leases
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
There were no significant lease transactions during the three months ended March 31, 2024.
Lease Expenses
The components of lease expenses are as follows (in millions):
Three Months Ended
March 31,
20242023
Finance lease cost
Amortization of right-of-use assets (1)
$48 $43 
Interest on lease liabilities28 28 
Total finance lease cost76 71 
Operating lease cost56 53 
Variable lease cost16 13 
Total lease cost$148 $137 
(1)    Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.
Other Information
Other information related to leases is as follows (in millions, except years and percent):
Three Months Ended March 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$26 $27 
Operating cash flows from operating leases50 52 
Financing cash flows from finance leases31 36 
Right-of-use assets obtained in exchange for lease obligations: (1)
Finance leases$30 $— 
Operating leases4 5 
March 31, 2024December 31, 2023
Weighted-average remaining lease term - finance leases (2)
14 years14 years
Weighted-average remaining lease term - operating leases (2)
12 years12 years
Weighted-average discount rate - finance leases6 %6 %
Weighted-average discount rate - operating leases5 %5 %
Finance lease right-of-use assets (3)
$2,136 $2,184 
(1) Represents all non-cash changes in right-of-use assets.
(2) Includes lease renewal options that are reasonably certain to be exercised.
(3) As of March 31, 2024 and December 31, 2023, we recorded accumulated amortization of finance lease right-of-use assets of $889 million and $870 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.
Maturities of Lease Liabilities
Maturities of lease liabilities as of March 31, 2024 are as follows (in millions):
Operating LeasesFinance LeasesTotal
2024 (9 months remaining)$143 $188 $331 
2025203 281 484 
2026195 245 440 
2027176 250 426 
2028150 238 388 
Thereafter1,075 2,077 3,152 
Total lease payments1,942 3,279 5,221 
Less imputed interest(526)(1,056)(1,582)
Total$1,416 $2,223 $3,639 
We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2024. These leases will commence between year 2024 and 2026, with lease terms of 3 to 33 years and total lease commitments of approximately $533 million.
Leases Leases
There were no significant lease transactions during the three months ended March 31, 2024.
Lease Expenses
The components of lease expenses are as follows (in millions):
Three Months Ended
March 31,
20242023
Finance lease cost
Amortization of right-of-use assets (1)
$48 $43 
Interest on lease liabilities28 28 
Total finance lease cost76 71 
Operating lease cost56 53 
Variable lease cost16 13 
Total lease cost$148 $137 
(1)    Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.
Other Information
Other information related to leases is as follows (in millions, except years and percent):
Three Months Ended March 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$26 $27 
Operating cash flows from operating leases50 52 
Financing cash flows from finance leases31 36 
Right-of-use assets obtained in exchange for lease obligations: (1)
Finance leases$30 $— 
Operating leases4 5 
March 31, 2024December 31, 2023
Weighted-average remaining lease term - finance leases (2)
14 years14 years
Weighted-average remaining lease term - operating leases (2)
12 years12 years
Weighted-average discount rate - finance leases6 %6 %
Weighted-average discount rate - operating leases5 %5 %
Finance lease right-of-use assets (3)
$2,136 $2,184 
(1) Represents all non-cash changes in right-of-use assets.
(2) Includes lease renewal options that are reasonably certain to be exercised.
(3) As of March 31, 2024 and December 31, 2023, we recorded accumulated amortization of finance lease right-of-use assets of $889 million and $870 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.
Maturities of Lease Liabilities
Maturities of lease liabilities as of March 31, 2024 are as follows (in millions):
Operating LeasesFinance LeasesTotal
2024 (9 months remaining)$143 $188 $331 
2025203 281 484 
2026195 245 440 
2027176 250 426 
2028150 238 388 
Thereafter1,075 2,077 3,152 
Total lease payments1,942 3,279 5,221 
Less imputed interest(526)(1,056)(1,582)
Total$1,416 $2,223 $3,639 
We entered into agreements with various landlords primarily to lease data center spaces and ground leases which have not yet commenced as of March 31, 2024. These leases will commence between year 2024 and 2026, with lease terms of 3 to 33 years and total lease commitments of approximately $533 million.