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Leases (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Components of Lease Income
The components of lease income were as follows:
(in millions)For the three months ended September 30, 2023For the nine months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2022
Interest income on lease financing (1)
$28 $80 $14 $38 
(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)September 30, 2023December 31, 2022
Net investment in the lease - lease payments receivable$3,161 $1,685 
Net investment in the lease - unguaranteed residual assets296 60 
Total lease payments$3,457 $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)September 30, 2023
2023$159 
2024573 
2025659 
2026800 
2027503 
Thereafter763 
Total lease payments$3,457 
Plus: deferred origination costs17 
Less: unearned income(243)
Less: purchase accounting adjustment$(83)
Total lease finance receivables, net$3,148 
Lease Cost Information
The components of lease expense were as follows:

(in millions)For the three months ended September 30, 2023For the nine months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2022
Operating lease cost$25 $60 $7 $21 
Sublease income— — — — 
Total lease cost$25 $60 $7 $21 

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

(in millions)For the three months ended September 30, 2023For the nine months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$16 $46 $7 $21 
Supplemental Balance Sheet Information
Supplemental balance sheet information related to the leases for the following periods:

(in millions, except lease term and discount rate)September 30, 2023December 31, 2022
Operating Leases:
Operating lease right-of-use assets (1)
$442 $119 
Operating lease liabilities (2)
$456 $122 
Weighted average remaining lease term11.9 years6 years
Weighted average discount rate %4.53 %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)		September 30, 2023
Maturities of lease liabilities:
2023$6 
202468 
202562 
202654 
202748 
Thereafter379 
Total lease payments$617 
Less: imputed interest$(161)
Total present value of lease liabilities$456