Occupancy Expense and Information Systems and Communications Expense (Tables)

12 Months Ended

Dec. 31, 2023

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 2023:

	Years Ended December 31,
(In millions)	2023		2022
Finance lease:
Amortization of right-of-use assets	$	48	$	50
Interest on lease liabilities	5		6
Total finance lease expense	53		56
Sublease income	—		(10)
Net finance lease expense	53		46
Operating lease:
Operating lease expense	163		130
Sublease income	(23)		(16)
Net operating lease expense	140		114
Net lease expense	$	193	$	160
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	5	$	6
Operating cash flows from operating leases	197		161
Financing cash flows from finance leases	45		58
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	461	$	88
Finance leases	—		99

The following table presents details related to remaining lease terms and discount rate as of December 31, 2023 and 2022:

	December 31, 2023		December 31, 2022
Weighted-average remaining lease term (in years):
Finance leases	2.5		3.5
Operating leases	8.5		5.0
Weighted-average discount rate:
Finance leases	3	%	3	%
Operating leases	4	%	3	%

Schedule of Future Minimum Lease Payments, Operating Leases

The following table presents future minimum lease payments under non-cancellable leases as of December 31, 2023:

(In millions)	Operating Leases		Finance Leases		Total
2024	$	172	$	52	$	224
2025	150		52		202
2026	124		31		155
2027	108		—		108
2028	93		—		93
Thereafter	357		—		357
Total future minimum lease payments	1,004		135		1,139
Less imputed interest	(172)		(5)		(177)
Total	$	832	$	130	$	962

Schedule of Future Minimum Lease Payments, Finance Leases

The following table presents future minimum lease payments under non-cancellable leases as of December 31, 2023:

(In millions)	Operating Leases		Finance Leases		Total
2024	$	172	$	52	$	224
2025	150		52		202
2026	124		31		155
2027	108		—		108
2028	93		—		93
Thereafter	357		—		357
Total future minimum lease payments	1,004		135		1,139
Less imputed interest	(172)		(5)		(177)
Total	$	832	$	130	$	962