Premises, Equipment and Leases (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment and Lease Commitments [Abstract]

Schedule of Property, Plant and Equipment

Useful lives for premises and equipment are generally estimated as follows:

Premises and Equipment	Useful Lives
Buildings and improvements	5-39 years
Furniture and equipment	3-10 years
Computer software	3 years
Leasehold improvements	Lesser of the useful life or the remaining lease term

The following table presents our premises and equipment as of December 31, 2023 and 2022.

Table 7.1 Components of Premises and Equipment

(Dollars in millions)	December 31, 2023		December 31, 2022
Land	$	305	$	320
Buildings and improvements	4,297		4,345
Furniture and equipment	1,800		1,831
Computer software	2,863		2,213
In progress	291		646
Total premises and equipment, gross	9,556		9,355
Less: Accumulated depreciation and amortization	(5,181)		(5,004)
Total premises and equipment, net	$	4,375	$	4,351

Schedule of Lease Cost

The following tables present information about our operating lease portfolio and the related lease costs as of and for the years ended December 31, 2023 and 2022.

Table 7.2 Operating Lease Portfolio

(Dollars in millions)	December 31, 2023			December 31, 2022
Right-of-use assets	$	1,009		$	1,128
Lease liabilities	1,312			1,458
Weighted-average remaining lease term	8.2 years			8.4 years
Weighted-average discount rate	3.2		%	3.1		%

Table 7.3 Total Operating Lease Expense and Other Information

	Year Ended December 31,
(Dollars in millions)	2023		2022
Operating lease cost	$	241	$	280
Variable lease cost	47		42
Total lease cost	288		322
Sublease income	(18)		(16)
Net lease cost	$	270	$	306
Cash paid for amounts included in the measurement of lease liabilities	$	285	$	320
Right-of-use assets obtained in exchange for lease liabilities	83		221

Schedule of Future Minimum Lease Payments

The following table presents a maturity analysis of our operating leases and a reconciliation of the undiscounted cash flows to our lease liabilities as of December 31, 2023.

Table 7.4 Maturities of Operating Leases and Reconciliation to Lease Liabilities

(Dollars in millions)	December 31, 2023
2024	$	241
2025	212
2026	194
2027	170
2028	151
Thereafter	541
Total undiscounted lease payments	1,509
Less: Imputed interest	197
Total lease liabilities	$	1,312