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Premises and equipment (Tables) | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Schedule of Premises and Equipment | The detail of premises and equipment was as follows:
| December 31,
(Dollars in millions) | 2024 |  | 2023
Land | $ | 146 |  |  | $ | 148 |
Buildings | 703 |  |  | 685 |
Leasehold improvements | 423 |  |  | 413 |
Furniture and equipment | 1,190 |  |  | 1,097 |
| 2,462 |  |  | 2,343 |
Less: accumulated depreciation and amortization | 1,326 |  |  | 1,220 |
Right-of-use assets — operating leases | 569 |  |  | 616 |
Premises and equipment, net | $ | 1,705 |  |  | $ | 1,739 |
Summary of Lease Costs for Operating Leases, Cash Paid Toward Lease Liabilities, and Weighted-Average Remaining Term and Discount Rates of Operating Leases | The following table presents information about the Company’s lease costs for operating leases recorded in the Consolidated Balance Sheet, cash paid toward lease liabilities and the weighted-average remaining term and discount rates of the operating leases.
| Year Ended December 31,
(Dollars in millions) | 2024 |  | 2023 |  | 2022
Lease cost |  |  |  |  |
Operating lease cost | $ | 155 |  |  | $ | 154 |  |  | $ | 139 |
Short-term lease cost | — |  |  | — |  |  | 8 |
Variable lease cost | 5 |  |  | 4 |  |  | 4 |
Total lease cost | $ | 160 |  |  | $ | 158 |  |  | $ | 151 |
Other information |  |  |  |  |
Right-of-use assets: |  |  |  |  |
Obtained in exchange for new operating lease liabilities | $ | 101 |  |  | $ | 134 |  |  | $ | 138 |
Acquired in business combination | — |  |  | — |  |  | 226 |
Cash paid toward lease liabilities | 164 |  |  | 158 |  |  | 143 |
Weighted-average remaining lease term | 7 years |  | 7 years |  | 7 years
Weighted-average discount rate | 3.64 | % |  | 3.37 | % |  | 2.97 | %
Summary of Minimum Lease Payments Under Noncancelable Operating Leases | Minimum lease payments under noncancelable operating leases are summarized in the following table.
(Dollars in millions) |
Year ending December 31: |
2025 | $ | 160 |
2026 | 142 |
2027 | 120 |
2028 | 95 |
2029 | 70 |
Later years | 182 |
Total lease payments | 769 |
Imputed interest | (92) |
Total | $ | 677 |

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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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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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