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Leases (Tables)
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Components of Lease Income
The components of lease income were as follows:
(in millions)For the three months ended June 30, 2023For the six months ended June 30, 2023For the three months ended June 30, 2022For the six months ended June 30, 2022
Interest income on lease financing (1)
$32 $52 $12 $24 
(1)Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income.
Components of Net Investment in Direct Financing Leases The components of net investment in direct financing leases, including the carrying amount of the lease receivables, as well as the unguaranteed residual asset were as follows:
(in millions)June 30, 2023December 31, 2022
Net investment in the lease - lease payments receivable$2,822 $1,685 
Net investment in the lease - unguaranteed residual assets461 60 
Total lease payments$3,283 $1,745 
Maturity Analysis of Undiscounted Lease Receivables
The following table presents the remaining maturity analysis of the undiscounted lease receivables, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition:

(in millions)June 30, 2023
2023$396 
2024526 
2025677 
2026574 
2027473 
Thereafter637 
Total lease payments$3,283 
Plus: deferred origination costs18 
Less: unearned income(219)
Less: purchase accounting adjustment$(90)
Total lease finance receivables, net$2,992 
Lease Cost Information
The components of lease expense were as follows:

(in millions)For the three months ended June 30, 2023For the six months ended June 30, 2023For the three months ended June 30, 2022For the six months ended June 30, 2022
Operating lease cost$25 $35 $7 $14 
Sublease income— — — — 
Total lease cost$25 $35 $7 $14 

Supplemental cash flow information related to the leases for the following periods:

(in millions)For the three months ended June 30, 2023For the six months ended June 30, 2023For the three months ended June 30, 2022For the six months ended June 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$20 $30 $7 $14 
Supplemental Balance Sheet Information
Supplemental balance sheet information related to the leases for the following periods:

(in millions, except lease term and discount rate)June 30, 2023December 31, 2022
Operating Leases:
Operating lease right-of-use assets (1)
$529 $119 
Operating lease liabilities (2)
$536 $122 
Weighted average remaining lease term9 years6 years
Weighted average discount rate %4.38 %3.85 %
(1)Included in Other assets in the Consolidated Statements of Condition.
(2)Included in Other liabilities in the Consolidated Statements of Condition.
Schedule of Minimum Contractual Lease Obligations

(in millions)		June 30, 2023
Maturities of lease liabilities:
2023$26 
202479 
202573 
202663 
202759 
Thereafter416 
Total lease payments$716 
Less: imputed interest$(180)
Total present value of lease liabilities$536