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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Lease Income | The following table provides details on our income from lessor arrangements: Table 67: Lessor Income
Year ended December 31 |  |  |  |
In millions | 2022 | 2021 | 2020 |
Sales-type and direct financing leases (a) | $ | 243 |  | $ | 243 |  | $ | 269 |  |
Operating leases (b) | 63 |  | 75 |  | 95 |  |
Lease income | $ | 306 |  | $ | 318 |  | $ | 364 |  |
(a)Included in Loans interest income on the Consolidated Income Statement. (b)Included in Lending and deposit 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 68: Sales-Type and Direct Financing Leases
In millions | December 31, 2022 | December 31, 2021 |
Lease receivables | $ | 5,853 |  | $ | 5,829 |  |
Unguaranteed residual asset values (a) | 1,422 |  | 977 |  |
Unearned income | (761) |  | (677) |  |
Equipment lease financing | $ | 6,514 |  | $ | 6,129 |  |
(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 for both 2022 and 2021.
Future Minimum Lessor Receivable Arrangements | The future minimum lessor receivable arrangements at December 31, 2022 were as follows: Table 69: Future Minimum Lessor Receivable Arrangements
In millions | Operating Leases | Sales-type and Direct Financing Leases
2023 | $ | 46 |  | $ | 1,474 |
2024 | 37 |  | 1,256 |
2025 | 28 |  | 890 |
2026 | 21 |  | 621 |
2027 | 11 |  | 609 |
2028 and thereafter | 16 |  | 1,003 |
Total future minimum lease receivable arrangements | $ | 159 |  | $ | 5,853 |
Future Minimum Lease Payments of Lessor Arrangements | The future minimum lessor receivable arrangements at December 31, 2022 were as follows: Table 69: Future Minimum Lessor Receivable Arrangements
In millions | Operating Leases | Sales-type and Direct Financing Leases
2023 | $ | 46 |  | $ | 1,474 |
2024 | 37 |  | 1,256 |
2025 | 28 |  | 890 |
2026 | 21 |  | 621 |
2027 | 11 |  | 609 |
2028 and thereafter | 16 |  | 1,003 |
Total future minimum lease receivable arrangements | $ | 159 |  | $ | 5,853 |
Operating Lease Costs and Cash Flows | Tables 70 and 71 provide details on our operating leases: Table 70: Operating Lease Costs and Cash Flows
Year ended December 31 |  |  |  |  |  |
In millions | 2022 |  | 2021 |  | 2020 |
Operating lease cost (a) | $ | 395 |  |  | $ | 386 |  |  | $ | 358 |  |
Operating cash flows | $ | 434 |  |  | $ | 400 |  |  | $ | 360 |  |
(a)Included in Occupancy, Equipment and Marketing expense on the Consolidated Income Statement.
Operating Lease Assets and Liabilities | Table 71: Operating Lease Assets and Liabilities
In millions | December 31, 2022 |  | December 31, 2021 |
Operating lease assets (a) | $ | 1,857 |  |  | $ | 1,919 |  |
Operating lease liabilities (b) | $ | 2,160 |  |  | $ | 2,220 |  |
(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, 2022 and 2021 were as follows: Table 72: Operating Lease Term and Discount Rates of Lessee Arrangements
| December 31, 2022 |  | December 31, 2021 |
Weighted-average remaining lease term (years) | 7 |  | 8 |
Weighted-average discount rate | 2.24 | % |  | 1.99 | % |
Future Lease Payments for Operating Lease Liability Arrangements | The future lease payments based on maturity for our lessee liability arrangements at December 31, 2022 are as follows: Table 73: Future Lease Payments for Operating Lease Liability Arrangements
In millions |  | December 31, 2022
2023 |  | $ | 428 |
2024 |  | 385 |
2025 |  | 343 |
2026 |  | 291 |
2027 |  | 247 |
2028 and thereafter |  | 657 |
Total future lease payments |  | $ | 2,351 |
Less: Interest |  | 191 |
Present value of operating lease liability arrangements |  | $ | 2,160 |

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