Leasing Activity (Tables)

9 Months Ended

Sep. 30, 2024

Lessor Disclosure [Abstract]

Leasing Revenue

Noninterest income on leases, included in Table 8.1, is included in other noninterest income on our consolidated statement of income. Lease expense, included in other noninterest expense on our consolidated statement of income, was $152 million and $172 million for the quarters ended September 30, 2024 and 2023, respectively, and $475 million and $529 million for the first nine months of 2024 and 2023, respectively.

Table 8.1: Leasing Revenue

	Quarter ended September 30,			Nine months ended September 30,
(in millions)	2024		2023	2024		2023
Interest income on lease financing	$	233	188	$	672	533
Other lease revenue:
Variable revenue on lease financing	23		25	69		74
Fixed revenue on operating leases	226		241	694		735
Variable revenue on operating leases	13		9	35		33
Other lease-related revenue (1)	15		16	192		103
Noninterest income on leases	277		291	990		945
Total leasing revenue	$	510	479	$	1,662	1,478

(1)    Includes net gains (losses) on disposition of assets leased under operating leases or lease financings.

Lessee Disclosure [Abstract]

Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities

Table 8.2 presents balances for our operating leases.

Table 8.2: Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities

(in millions)	Sep 30, 2024		Dec 31, 2023
ROU assets	$	3,672	3,412
Lease liabilities	4,255		4,060