Leasing (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of December 31, 2021, and that have noncancelable lease terms expiring after December 31, 2021.

Year ended December 31, ($ in millions)
2022	$	41
2023	32
2024	26
2025	21
2026	20
2027 and thereafter	46
Total undiscounted cash flows	186
Difference between undiscounted cash flows and discounted cash flows	(11)
Total lease liability	$	175

Lease, Cost

The following table details the components of total net operating lease expense.

Year ended December 31, ($ in millions)	2021		2020		2019
Operating lease expense	$	46	$	46	$	45
Variable lease expense	7		8		8
Total lease expense, net (a)	$	53	$	54	$	53

(a)Included in other operating expenses in our Consolidated Statement of Income.

Schedule of Investment in Operating Lease

The following table details our investment in operating leases.

Year ended December 31, ($ in millions)	2021		2020
Vehicles	$	12,384	$	11,182
Accumulated depreciation	(1,522)		(1,543)
Investment in operating leases, net	$	10,862	$	9,639

Lessor, Operating Lease, Payments to be Received, Maturity

The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after December 31, 2021.

Year ended December 31, ($ in millions)
2022	$	1,546
2023	1,140
2024	511
2025	116
2026	8
Total lease payments from operating leases	$	3,321

Depreciation Expense on Operating Lease Assets

The following table summarizes the components of depreciation expense on operating lease assets.

Year ended December 31, ($ in millions)	2021		2020		2019
Depreciation expense on operating lease assets (excluding remarketing gains) (a)	$	914	$	978	$	1,050
Remarketing gains, net	(344)		(127)		(69)
Net depreciation expense on operating lease assets	$	570	$	851	$	981

(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $16 million during the year ended December 31, 2021, $23 million during the year ended December 31, 2020, and $19 million during the year ended December 31, 2019.

Finance Lease, Liability, Maturity

The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after December 31, 2021.

Year ended December 31, ($ in millions)
2022	$	159
2023	133
2024	111
2025	58
2026	32
2027 and thereafter	13
Total undiscounted cash flows	506
Difference between undiscounted cash flows and discounted cash flows	(50)
Present value of lease payments recorded as lease receivable	$	456