Occupancy Expense and Information Systems and Communications Expense (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Lease Costs and Other Information

The following table presents details related to remaining lease terms and discount rate for the quarter ended March 31, 2019:



	Three Months Ended March 31, 2019
Weighted-average remaining lease term (in years):
Finance leases	4.5
Operating leases	7.8
Weighted-average discount rate:
Finance leases	7	%
Operating leases	3

The following table presents lease costs, sublease rental income, cash flows and new leases arising from lease transactions for the quarter ended March 31, 2019:



(In millions)	Three Months Ended March 31, 2019
Finance lease:
Amortization of right-of-use assets	$	5
Interest on lease liabilities	3
Total finance lease expense	8
Sublease income	(2		)
Net finance lease expense	6
Operating lease:
Operating lease expense	44
Sublease income	(1		)
Net operating lease expense	43
Net lease expense	$	49

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	3
Operating cash flows from operating leases	51
Financing cash flows from finance leases	31
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	29
Finance leases	—

Schedule of Future MInimum Lease Payments, Operating Leases

The following table presents future minimum lease payments under non-cancellable leases as of March 31, 2019:



(In millions)	Operating Leases			Finance Leases			Total
2019 (excluding the first quarter of 2019)	$	144		$	31		$	175
2020	185			42			227
2021	174			42			216
2022	151			42			193
2023	131			30			161
Thereafter	400			—			400
Total future minimum lease payments	1,185			187			1,372
Less imputed interest	(125		)	(27		)	(152		)
Total	$	1,060		$	160		$	1,220

Schedule of Future MInimum Lease Payments, Finance Leases

The following table presents future minimum lease payments under non-cancellable leases as of March 31, 2019:



(In millions)	Operating Leases			Finance Leases			Total
2019 (excluding the first quarter of 2019)	$	144		$	31		$	175
2020	185			42			227
2021	174			42			216
2022	151			42			193
2023	131			30			161
Thereafter	400			—			400
Total future minimum lease payments	1,185			187			1,372
Less imputed interest	(125		)	(27		)	(152		)
Total	$	1,060		$	160		$	1,220