Occupancy Expense and Information Systems and Communications Expense (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2019:

(In millions)	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Finance lease:
Amortization of right-of-use assets	$	5		$	16
Interest on lease liabilities	3			9
Total finance lease expense	8			25
Sublease income	(2		)	(7		)
Net finance lease expense	6			18
Operating lease:
Operating lease expense	43			132
Sublease income	(1		)	(4		)
Net operating lease expense	42			128
Net lease expense	$	48		$	146
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	2		$	8
Operating cash flows from operating leases	43			142
Financing cash flows from finance leases	8			47
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	21		$	54
Finance leases	—			—

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

	September 30, 2019
Weighted-average remaining lease term (in years):
Finance leases	4
Operating leases	7
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 September 30, 2019:

(In millions)	Operating Leases			Finance Leases			Total
2019 (excluding the first nine months ended 2019)	$	48		$	10		$	58
2020	182			42			224
2021	175			42			217
2022	153			42			195
2023	133			30			163
Thereafter	393			—			393
Total future minimum lease payments	1,084			166			1,250
Less imputed interest	(107		)	(22		)	(129		)
Total	$	977		$	144		$	1,121

Schedule of Future Minimum Lease Payments, Finance Leases

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

(In millions)	Operating Leases			Finance Leases			Total
2019 (excluding the first nine months ended 2019)	$	48		$	10		$	58
2020	182			42			224
2021	175			42			217
2022	153			42			195
2023	133			30			163
Thereafter	393			—			393
Total future minimum lease payments	1,084			166			1,250
Less imputed interest	(107		)	(22		)	(129		)
Total	$	977		$	144		$	1,121