Occupancy Expense and Information Systems and Communications Expense (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Summary of Lease Costs and Other Information

The following table presents lease costs, sublease rental income, cash flows and new leases arising from lease transactions for the three and six months ended June 30, 2019:

(In millions)	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Finance lease:
Amortization of right-of-use assets	$	6		$	11
Interest on lease liabilities	3			6
Total finance lease expense	9			17
Sublease income	(3		)	(5		)
Net finance lease expense	6			12
Operating lease:
Operating lease expense	45			89
Sublease income	(2		)	(3		)
Net operating lease expense	43			86
Net lease expense	$	49		$	98
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	3		$	6
Operating cash flows from operating leases	48			99
Financing cash flows from finance leases	8			39
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	4		$	33
Finance leases	—			—

The following table presents details related to remaining lease terms and discount rate as of June 30, 2019:

	June 30, 2019
Weighted-average remaining lease term (in years):
Finance leases	4.2
Operating leases	7.6
Weighted-average discount rate:
Finance leases	7	%
Operating leases	3

Schedule of Future MInimum Lease Payments, Operating Leases

The following table presents future minimum lease payments under non-cancellable leases as of June 30, 2019:

(In millions)	Operating Leases			Finance Leases			Total
2019 (excluding the first six months ended 2019)	$	96		$	21		$	117
2020	186			42			228
2021	175			42			217
2022	151			42			193
2023	131			30			161
Thereafter	401			—			401
Total future minimum lease payments	1,140			177			1,317
Less imputed interest	(116		)	(25		)	(141		)
Total	$	1,024		$	152		$	1,176

Schedule of Future MInimum Lease Payments, Finance Leases

The following table presents future minimum lease payments under non-cancellable leases as of June 30, 2019:

(In millions)	Operating Leases			Finance Leases			Total
2019 (excluding the first six months ended 2019)	$	96		$	21		$	117
2020	186			42			228
2021	175			42			217
2022	151			42			193
2023	131			30			161
Thereafter	401			—			401
Total future minimum lease payments	1,140			177			1,317
Less imputed interest	(116		)	(25		)	(141		)
Total	$	1,024		$	152		$	1,176