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Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Lease Income
The following table provides details on our income from lessor arrangements:

Table 64: Lease Income

Year ended December 31
In millions20202019
Sales-type and direct financing leases (a)$269 $295 
Operating leases (b)95 117 
Lease income$364 $412 
(a)Included in Loan interest income on the Consolidated Income Statement.
(b)Included in Corporate services on the Consolidated Income Statement.
Sales-Type and Direct Financing Leases
The following table provides the components of our equipment lease financing assets:

Table 65: Sales-Type and Direct Financing Leases
December 31
In millions20202019
Lease receivables (a)$6,246 $7,353 
Unguaranteed residual asset values957 741 
Unearned income(789)(939)
Equipment lease financing $6,414 $7,155 
(a)In certain cases, PNC obtains third-party residual value insurance to reduce its residual risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $0.4 billion and $0.3 billion for 2020 and 2019, respectively.
Future Minimum Lease Payments of Lessor Arrangements
The future minimum lease payments based on maturity of our lessor arrangements at December 31, 2020 were as follows:

Table 66: Future Minimum Lease Payments of Lessor Arrangements
In millionsOperating LeasesSales-type and Direct Financing Leases
2021$95 $1,467 
202275 1,315 
202342 948 
202435 806 
202524 473 
2026 and thereafter 42 1,237 
Total future minimum lease payments$313 $6,246 
Future Minimum Lease Payments of Lessor Arrangements
The future minimum lease payments based on maturity of our lessor arrangements at December 31, 2020 were as follows:

Table 66: Future Minimum Lease Payments of Lessor Arrangements
In millionsOperating LeasesSales-type and Direct Financing Leases
2021$95 $1,467 
202275 1,315 
202342 948 
202435 806 
202524 473 
2026 and thereafter 42 1,237 
Total future minimum lease payments$313 $6,246 
Operating Lease Costs and Cash Flows
The following tables provide details on our operating leases:

Table 67: Operating Lease Costs and Cash Flows

Year ended December 31
In millions 20202019
Operating lease cost (a)$358 $360 
Operating cash flows$360 $353 
(a)Included in Occupancy, Equipment and Marketing expense on the Consolidated Income Statement.
Operating Lease Assets and Liabilities
Table 68: Operating Lease Assets and Liabilities

December 31
In millions20202019
Operating lease assets (a)$1,876 $1,982 
Operating lease liabilities (b)$2,097 $2,170 
(a)Included in Other assets on the Consolidated Balance Sheet.
(b)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.
Operating Lease Term and Discount Rates of Lessee Arrangements
Operating lease term and discount rates of our lessee arrangements at December 31, 2020 and 2019 were as follows:

Table 69: Operating Lease Term and Discount Rates of Lessee Arrangements
December 31
20202019
Weighted-average remaining lease term (years)89
Weighted-average discount rate2.21 %2.42 %
Operating Lease Term and Discount Rates of Lessee Arrangements
Future undiscounted cash flows on our lessee arrangements at December 31, 2020 are as follows:

Table 70: Future Lease Payments of Operating Lease Liabilities
In millionsDecember 31, 2020
2021$364 
2022340 
2023309 
2024260 
2025217 
2026 and thereafter 822 
Total future lease payments$2,312 
Less: Interest215 
Present value of operating lease liabilities$2,097