Leasing (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022, and that have noncancelable lease terms expiring after December 31, 2022.

Year ended December 31, ($ in millions)
2023	$	35
2024	32
2025	26
2026	20
2027	16
2028 and thereafter	18
Total undiscounted cash flows	147
Difference between undiscounted cash flows and discounted cash flows	(10)
Total lease liability	$	137

Lease, Cost

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

Year ended December 31, ($ in millions)	2022		2021		2020
Operating lease expense	$	33	$	46	$	46
Variable lease expense	4		7		8
Total lease expense, net (a)	$	37	$	53	$	54

(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)	2022		2021
Vehicles	$	12,304	$	12,384
Accumulated depreciation	(1,860)		(1,522)
Investment in operating leases, net	$	10,444	$	10,862

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, 2022.

Year ended December 31, ($ in millions)
2023	$	1,529
2024	964
2025	445
2026	105
2027	8
Total lease payments from operating leases	$	3,051

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)	2022		2021		2020
Depreciation expense on operating lease assets (excluding remarketing gains) (a)	$	1,084	$	914	$	978
Remarketing gains, net	(170)		(344)		(127)
Net depreciation expense on operating lease assets	$	914	$	570	$	851

(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $7 million during the year ended December 31, 2022, $16 million during the year ended December 31, 2021, and $23 million during the year ended December 31, 2020.

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, 2022.

Year ended December 31, ($ in millions)
2023	$	166
2024	132
2025	116
2026	63
2027	33
2028 and thereafter	10
Total undiscounted cash flows	520
Difference between undiscounted cash flows and discounted cash flows	(53)
Present value of lease payments recorded as lease receivable	$	467