Part 17The cash flows cover it
It enters the balance sheet when it commences, as late as 2036 for Meta, and at least one agency counts it sooner: S&P Global Ratings, cutting Oracle to BBB- on July 9, 2026, added to the debt in its forecast the $260 billion of leases Oracle then expected to start between fiscal 2027 and 2029.
The Guarantee Has No Date