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Other Assets and Liabilites
 12 Months Ended
Dec. 31, 2019
Other Assets [Abstract]  
Other Assets Disclosure Other Assets and Liabilities
Lessee Operating and Finance Leases

The Company leases certain assets, consisting primarily of real estate, and assesses at contract inception whether a contract is, or contains, a lease. At December 31, 2019, the Company had an immaterial amount of operating leases that had not yet commenced. Operating lease costs were $209 million for the year ended December 31, 2019. The following table presents additional information on operating leases, and excludes assets related to the lease financing business:

December 31, 2019
(Dollars in millions)		Operating LeasesFinance Leases
ROU assets$1,823  $113  
Maturities of lease liabilities:
2020$375  $15  
2021377  16  
2022334  16  
2023281  13  
2024236  10  
Thereafter763  76  
Total lease payments2,366  146  
Less: imputed interest245  23  
Total lease liabilities$2,121  $123  
Weighted average remaining term7.7 years11.4 years
Weighted average discount rate2.6 %3.4 %

Lessor Operating Leases

The Company’s two primary lessor businesses are equipment financing and structured real estate with income recorded in Operating lease income on the Consolidated Statements of Income.

The following table presents a summary of assets under operating leases and activity related to assets under operating leases. This table excludes subleases on assets included in premises and equipment.

(Dollars in millions)Dec 31, 2019
Assets held under operating leases (1)$2,236  
Accumulated depreciation (391) 
Net$1,845  
(1) Includes certain land parcels subject to operating leases that have indefinite lives.

The residual value of assets no longer under operating leases was immaterial.

Bank-Owned Life Insurance

Bank-owned life insurance consists of life insurance policies held on certain employees for which the Company is the beneficiary. These policies provide the Company an efficient form of funding for retirement and other employee benefits costs. The carrying value of bank-owned life insurance was $6.4 billion and $4.7 billion at December 31, 2019 and 2018.