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Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Lease Income
The following table provides details on our income from lessor arrangements:

Table 59: Lessor Income

Year ended December 31
In millions202320222021
Sales-type and direct financing leases (a)$300 $243 $243 
Operating leases (b)46 63 75 
Lease income$346 $306 $318 
(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 60: Sales-Type and Direct Financing Leases
In millionsDecember 31, 2023December 31, 2022
Lease receivables$5,986 $5,853 
Unguaranteed residual asset values (a)1,440 1,422 
Unearned income(884)(761)
Equipment lease financing $6,542 $6,514 
(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 $0.6 billion and $0.4 billion at December 31, 2023 and 2022, respectively.
Future Minimum Lessor Receivable Arrangements
The future minimum lessor receivable arrangements at December 31, 2023 were as follows:

Table 61: Future Minimum Lessor Receivable Arrangements
In millionsOperating LeasesSales-type and Direct Financing Leases
2024$17 $1,655 
202516 1,174 
202615 907 
202710 863 
20282 491 
2029 and thereafter 896 
Total future minimum lease receivable arrangements $60 $5,986 
Future Minimum Lease Payments of Lessor Arrangements
The future minimum lessor receivable arrangements at December 31, 2023 were as follows:

Table 61: Future Minimum Lessor Receivable Arrangements
In millionsOperating LeasesSales-type and Direct Financing Leases
2024$17 $1,655 
202516 1,174 
202615 907 
202710 863 
20282 491 
2029 and thereafter 896 
Total future minimum lease receivable arrangements $60 $5,986 
Operating Lease Costs and Cash Flows
Tables 62 and 63 provide details on our operating leases:

Table 62: Operating Lease Costs and Cash Flows

Year ended December 31
In millions 202320222021
Operating lease cost (a)$386 $395 $386 
Operating cash flows$440 $434 $400 
(a)Included in Occupancy, Equipment and Marketing expense on the Consolidated Income Statement.
Operating Lease Assets and Liabilities
Table 63: Operating Lease Assets and Liabilities

In millionsDecember 31, 2023December 31, 2022
Operating lease assets (a)$1,745 $1,857 
Operating lease liabilities (b)$1,998 $2,160 
(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, 2023 and 2022 were as follows:

Table 64: Operating Lease Term and Discount Rates of Lessee Arrangements
December 31, 2023December 31, 2022
Weighted-average remaining lease term (years)77
Weighted-average discount rate2.49 %2.24 %
Future Lease Payments for Operating Lease Liability Arrangements
The future lease payments based on maturity for our lessee liability arrangements at December 31, 2023 are as follows:

Table 65: Future Lease Payments for Operating Lease Liability Arrangements
In millionsDecember 31, 2023
2024$405 
2025378 
2026333 
2027288 
2028230 
2029 and thereafter553 
Total future lease payments$2,187 
Less: Interest189 
Present value of operating lease liability arrangements$1,998