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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Income
The following table provides details on our income from lessor arrangements:

Table 67: Lessor Income
Year ended December 31
In millions202420232022
Sales-type and direct financing leases (a)$355 $300 $243 
Operating leases (b)26 46 63 
Lease income$381 $346 $306 
(a)Included in Loans interest income on the Consolidated Income Statement.
(b)Included in Lending and deposit services noninterest income on the Consolidated Income Statement.
Sales-Type and Direct Financing Leases
The following table provides the components of our equipment lease financing assets:

Table 68: Sales-Type and Direct Financing Leases
In millionsDecember 31, 2024December 31, 2023
Lease receivables$6,229 $5,986 
Unguaranteed residual asset values (a)1,395 1,440 
Unearned income(869)(884)
Equipment lease financing $6,755 $6,542 
(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 $0.6 billion at both December 31, 2024 and 2023.
Future Minimum Lessor Receivable Arrangements
The future minimum lessor receivable arrangements at December 31, 2024 were as follows:

Table 69: Future Minimum Lessor Receivable Arrangements
In millionsOperating LeasesSales-type and Direct Financing Leases
2025$30 $1,568 
202630 1,318 
202725 1,268 
202815 798 
202912 524 
2030 and thereafter10 753 
Total future minimum lease receivable arrangements $122 $6,229 
Future Minimum Lease Payments of Lessor Arrangements
The future minimum lessor receivable arrangements at December 31, 2024 were as follows:

Table 69: Future Minimum Lessor Receivable Arrangements
In millionsOperating LeasesSales-type and Direct Financing Leases
2025$30 $1,568 
202630 1,318 
202725 1,268 
202815 798 
202912 524 
2030 and thereafter10 753 
Total future minimum lease receivable arrangements $122 $6,229 
Operating Lease Costs and Cash Flows
Tables 70 and 71 provide details on our operating leases:

Table 70: Operating Lease Costs and Cash Flows
Year ended December 31
In millions 202420232022
Operating lease cost (a)$373 $386 $395 
Operating cash flows$413 $440 $434 
(a)Included in Occupancy, Equipment and Marketing expense on the Consolidated Income Statement.
Operating Lease Assets and Liabilities
Table 71: Operating Lease Assets and Liabilities
In millionsDecember 31, 2024December 31, 2023
Operating lease assets (a)$1,619 $1,745 
Operating lease liabilities (b)$1,870 $1,998 
(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, 2024 and 2023 were as follows:

Table 72: Operating Lease Term and Discount Rates of Lessee Arrangements
December 31, 2024December 31, 2023
Weighted-average remaining lease term (years)77
Weighted-average discount rate2.76 %2.49 %
Future Lease Payments for Operating Lease Liability Arrangements
The future lease payments based on maturity for our lessee liability arrangements at December 31, 2024 are as follows:

Table 73: Future Lease Payments for Operating Lease Liability Arrangements
In millionsDecember 31, 2024
2025$401 
2026367 
2027324 
2028270 
2029204 
2030 and thereafter492 
Total future lease payments$2,058 
Less: Interest188 
Present value of operating lease liability arrangements$1,870