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Leases (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lease Income | The following table provides details on our income from lessor arrangements: Table 64: Lease Income
Year ended December 31 |  |  |
In millions | 2020 | 2019 |
Sales-type and direct financing leases (a) | $ | 269 |  | $ | 295 |  |
Operating leases (b) | 95 |  | 117 |  |
Lease income | $ | 364 |  | $ | 412 |  |
(a)Included in Loan interest income on the Consolidated Income Statement. (b)Included in Corporate services on the Consolidated Income Statement.
Sales-Type and Direct Financing Leases | The following table provides the components of our equipment lease financing assets: Table 65: Sales-Type and Direct Financing Leases
| December 31 |
In millions | 2020 | 2019 |
Lease receivables (a) | $ | 6,246 |  | $ | 7,353 |  |
Unguaranteed residual asset values | 957 |  | 741 |  |
Unearned income | (789) |  | (939) |  |
Equipment lease financing | $ | 6,414 |  | $ | 7,155 |  |
(a)In certain cases, PNC obtains third-party residual value insurance to reduce its residual risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $0.4 billion and $0.3 billion for 2020 and 2019, respectively.
Future Minimum Lease Payments of Lessor Arrangements | The future minimum lease payments based on maturity of our lessor arrangements at December 31, 2020 were as follows: Table 66: Future Minimum Lease Payments of Lessor Arrangements
In millions | Operating Leases | Sales-type and Direct Financing Leases
2021 | $ | 95 |  | $ | 1,467 |
2022 | 75 |  | 1,315 |
2023 | 42 |  | 948 |
2024 | 35 |  | 806 |
2025 | 24 |  | 473 |
2026 and thereafter | 42 |  | 1,237 |
Total future minimum lease payments | $ | 313 |  | $ | 6,246 |
Future Minimum Lease Payments of Lessor Arrangements | The future minimum lease payments based on maturity of our lessor arrangements at December 31, 2020 were as follows: Table 66: Future Minimum Lease Payments of Lessor Arrangements
In millions | Operating Leases | Sales-type and Direct Financing Leases
2021 | $ | 95 |  | $ | 1,467 |
2022 | 75 |  | 1,315 |
2023 | 42 |  | 948 |
2024 | 35 |  | 806 |
2025 | 24 |  | 473 |
2026 and thereafter | 42 |  | 1,237 |
Total future minimum lease payments | $ | 313 |  | $ | 6,246 |
Operating Lease Costs and Cash Flows | The following tables provide details on our operating leases: Table 67: Operating Lease Costs and Cash Flows
Year ended December 31 |  |  |  |
In millions | 2020 |  | 2019 |
Operating lease cost (a) | $ | 358 |  |  | $ | 360 |  |
Operating cash flows | $ | 360 |  |  | $ | 353 |  |
(a)Included in Occupancy, Equipment and Marketing expense on the Consolidated Income Statement.
Operating Lease Assets and Liabilities | Table 68: Operating Lease Assets and Liabilities
| December 31 |
In millions | 2020 |  | 2019 |
Operating lease assets (a) | $ | 1,876 |  |  | $ | 1,982 |  |
Operating lease liabilities (b) | $ | 2,097 |  |  | $ | 2,170 |  |
(a)Included in Other assets on the Consolidated Balance Sheet. (b)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.
Operating Lease Term and Discount Rates of Lessee Arrangements | Operating lease term and discount rates of our lessee arrangements at December 31, 2020 and 2019 were as follows: Table 69: Operating Lease Term and Discount Rates of Lessee Arrangements
| December 31 |
| 2020 |  | 2019 |
Weighted-average remaining lease term (years) | 8 |  | 9 |
Weighted-average discount rate | 2.21 | % |  | 2.42 | % |
Operating Lease Term and Discount Rates of Lessee Arrangements | Future undiscounted cash flows on our lessee arrangements at December 31, 2020 are as follows: Table 70: Future Lease Payments of Operating Lease Liabilities
In millions |  | December 31, 2020
2021 |  | $ | 364 |
2022 |  | 340 |
2023 |  | 309 |
2024 |  | 260 |
2025 |  | 217 |
2026 and thereafter |  | 822 |
Total future lease payments |  | $ | 2,312 |
Less: Interest |  | 215 |
Present value of operating lease liabilities |  | $ | 2,097 |

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