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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
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 | 2024 |  | 2023 |  | 2022 |
Sales-type and direct financing leases (a) | $ | 355 |  |  | $ | 300 |  |  | $ | 243 |  |
Operating leases (b) | 26 |  |  | 46 |  |  | 63 |  |
Lease income | $ | 381 |  |  | $ | 346 |  |  | $ | 306 |  |
(a)Included in Loans interest income on the Consolidated Income Statement. (b)Included in Lending and deposit services noninterest income 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, 2024 |  | December 31, 2023 |
Lease receivables | $ | 6,229 |  |  | $ | 5,986 |  |
Unguaranteed residual asset values (a) | 1,395 |  |  | 1,440 |  |
Unearned income | (869) |  |  | (884) |  |
Equipment lease financing | $ | 6,755 |  |  | $ | 6,542 |  |
(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 at both December 31, 2024 and 2023.
Future Minimum Lessor Receivable Arrangements | The future minimum lessor receivable arrangements at December 31, 2024 were as follows: Table 69: Future Minimum Lessor Receivable Arrangements
In millions | Operating Leases |  | Sales-type and Direct Financing Leases |
2025 | $ | 30 |  |  | $ | 1,568 |  |
2026 | 30 |  |  | 1,318 |  |
2027 | 25 |  |  | 1,268 |  |
2028 | 15 |  |  | 798 |  |
2029 | 12 |  |  | 524 |  |
2030 and thereafter | 10 |  |  | 753 |  |
Total future minimum lease receivable arrangements | $ | 122 |  |  | $ | 6,229 |  |
Future Minimum Lease Payments of Lessor Arrangements | The future minimum lessor receivable arrangements at December 31, 2024 were as follows: Table 69: Future Minimum Lessor Receivable Arrangements
In millions | Operating Leases |  | Sales-type and Direct Financing Leases |
2025 | $ | 30 |  |  | $ | 1,568 |  |
2026 | 30 |  |  | 1,318 |  |
2027 | 25 |  |  | 1,268 |  |
2028 | 15 |  |  | 798 |  |
2029 | 12 |  |  | 524 |  |
2030 and thereafter | 10 |  |  | 753 |  |
Total future minimum lease receivable arrangements | $ | 122 |  |  | $ | 6,229 |  |
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 | 2024 |  | 2023 |  | 2022 |
Operating lease cost (a) | $ | 373 |  |  | $ | 386 |  |  | $ | 395 |  |
Operating cash flows | $ | 413 |  |  | $ | 440 |  |  | $ | 434 |  |
(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, 2024 |  | December 31, 2023 |
Operating lease assets (a) | $ | 1,619 |  |  | $ | 1,745 |  |
Operating lease liabilities (b) | $ | 1,870 |  |  | $ | 1,998 |  |
(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, 2024 and 2023 were as follows: Table 72: Operating Lease Term and Discount Rates of Lessee Arrangements
| December 31, 2024 |  | December 31, 2023 |
Weighted-average remaining lease term (years) | 7 |  | 7 |
Weighted-average discount rate | 2.76 | % |  | 2.49 | % |
Future Lease Payments for Operating Lease Liability Arrangements | The future lease payments based on maturity for our lessee liability arrangements at December 31, 2024 are as follows: Table 73: Future Lease Payments for Operating Lease Liability Arrangements
In millions | December 31, 2024 |
2025 | $ | 401 |  |
2026 | 367 |  |
2027 | 324 |  |
2028 | 270 |  |
2029 | 204 |  |
2030 and thereafter | 492 |  |
Total future lease payments | $ | 2,058 |  |
Less: Interest | 188 |  |
Present value of operating lease liability arrangements | $ | 1,870 |  |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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