v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
Lease costs                                            
In millionsYear ended December 31,202520242023
Operating lease cost $160 $153 $149 
Short-term lease cost54 54 39 
Variable lease cost (1)
44 41 43 
Amortization of finance right-of-use assets
11 11 11 
Total lease cost (2)
$269 $259 $242 
(1)Mainly relates to leases of trucks for the Company's freight delivery service contracts.
(2)Includes lease costs from Purchased services and material and Equipment rents in the Consolidated Statements of Income.
Classification
In millionsClassificationAs at December 31,2025 2024 
Lease right-of-use assets
Finance leases Properties$368 $381 
Operating leasesOperating lease right-of-use assets440 485 
Total lease right-of-use assets$808 $866 
Lease liabilities
Current
Finance leasesCurrent portion of long-term debt$4 $1 
Operating leasesAccounts payable and other108 134 
Noncurrent
Finance leasesLong-term debt1 6 
Operating leasesOperating lease liabilities316 343 
Total lease liabilities$429 $484 

Terms and discount rates
As at December 31,2025 2024 
Weighted-average remaining lease term (years)
Finance leases1.72.7
Operating leases16.115.0
Weighted-average discount rate (%)
Finance leases4.09 4.24 
Operating leases4.66 4.50 

Additional information

In millionsYear ended December 31,202520242023
Cash paid for amounts included in the measurement of lease liabilities ($)
  
Operating cash outflows from operating leases153 152 148 
Financing cash outflows from finance leases2 31 2 
Right-of-use assets obtained in exchange for lease liabilities ($)
Operating lease85 234 91 
Finance lease— — 30 

Lease liabilities maturities
In millionsFinance leases
Operating leases
2026$4 $128 
20271 99 
2028— 64 
2029— 33 
2030— 23 
2031 & thereafter— 327 
Total lease payments5 674 
Less: Imputed interest — 250 
Present value of lease payments$5 $424 
Leases Leases
Lease costs                                            
In millionsYear ended December 31,202520242023
Operating lease cost $160 $153 $149 
Short-term lease cost54 54 39 
Variable lease cost (1)
44 41 43 
Amortization of finance right-of-use assets
11 11 11 
Total lease cost (2)
$269 $259 $242 
(1)Mainly relates to leases of trucks for the Company's freight delivery service contracts.
(2)Includes lease costs from Purchased services and material and Equipment rents in the Consolidated Statements of Income.
Classification
In millionsClassificationAs at December 31,2025 2024 
Lease right-of-use assets
Finance leases Properties$368 $381 
Operating leasesOperating lease right-of-use assets440 485 
Total lease right-of-use assets$808 $866 
Lease liabilities
Current
Finance leasesCurrent portion of long-term debt$4 $1 
Operating leasesAccounts payable and other108 134 
Noncurrent
Finance leasesLong-term debt1 6 
Operating leasesOperating lease liabilities316 343 
Total lease liabilities$429 $484 

Terms and discount rates
As at December 31,2025 2024 
Weighted-average remaining lease term (years)
Finance leases1.72.7
Operating leases16.115.0
Weighted-average discount rate (%)
Finance leases4.09 4.24 
Operating leases4.66 4.50 

Additional information

In millionsYear ended December 31,202520242023
Cash paid for amounts included in the measurement of lease liabilities ($)
  
Operating cash outflows from operating leases153 152 148 
Financing cash outflows from finance leases2 31 2 
Right-of-use assets obtained in exchange for lease liabilities ($)
Operating lease85 234 91 
Finance lease— — 30 

Lease liabilities maturities
In millionsFinance leases
Operating leases
2026$4 $128 
20271 99 
2028— 64 
2029— 33 
2030— 23 
2031 & thereafter— 327 
Total lease payments5 674 
Less: Imputed interest — 250 
Present value of lease payments$5 $424