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Leases (Notes) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Lessor, Operating Leases [Text Block] | NOTE 13. LEASES LESSEE As of December 31, 2023, assets and liabilities recorded under operating leases for properties were $462 million and $535 million, respectively, and $474 million and $553 million, respectively, as of December 31, 2022. The difference between the asset and liability balance is largely driven by increases in rent over the lease term and any strategic decisions to exit a lease location early, resulting in derecognition of the asset. The asset is recorded within other assets, and the lease liability is recorded within other liabilities on the consolidated balance sheets. Lease expense, which is operating lease costs recorded within net occupancy expense, was $85 million, $86 million, and $87 million for the years ended December 31, 2023, 2022, and 2021 respectively. Other information related to operating leases at December 31 is as follows:
| 2023 |  | 2022
Weighted-average remaining lease term (years) | 9.6 years |  | 10.0 years
Weighted-average discount rate (%) | 2.9 | % |  | 2.6 | %
Future, undiscounted minimum lease payments on operating leases are as follows:
| December 31, 2023
| (In millions)
2024 | $ | 92 |
2025 | 88 |
2026 | 75 |
2027 | 63 |
2028 | 51 |
Thereafter | 262 |
Total lease payments | 631 |
Less: Imputed interest | 96 |
Total present value of lease liabilities | $ | 535 |
LESSOR The following tables present a summary of Regions' sales-type, direct financing and leveraged leases for the years ended December 31.
| Net Interest Income
| 2023 |  | 2022 |  | 2021
| (In millions)
Sales-Type and Direct Financing | $ | 65 |  |  | $ | 52 |  |  | $ | 59 |
Leveraged(1) | 2 |  |  | 12 |  |  | 14 |
| $ | 67 |  |  | $ | 64 |  |  | $ | 73 |
_________ (1)Leveraged lease income is shown pre-tax and related tax expense is immaterial for all periods presented. Leveraged lease termination gains excluded from amounts presented above were immaterial for all periods presented.
| As of December 31, 2023
| Sales-Type and Direct Financing |  | Leveraged |  | Total
| (In millions)
Lease receivable | $ | 1,397 |  |  | $ | 123 |  |  | $ | 1,520 |
Unearned income | (211) |  |  | (47) |  |  | (258) |
Guaranteed residual | 96 |  |  | — |  |  | 96 |
Unguaranteed residual | 188 |  |  | 118 |  |  | 306 |
Total net investment | $ | 1,470 |  |  | $ | 194 |  |  | $ | 1,664 |
| As of December 31, 2022
| Sales-Type and Direct Financing |  | Leveraged |  | Total
| (In millions)
Lease receivable | $ | 1,236 |  |  | $ | 140 |  |  | $ | 1,376 |
Unearned income | (189) |  |  | (62) |  |  | (251) |
Guaranteed residual | 71 |  |  | — |  |  | 71 |
Unguaranteed residual | 173 |  |  | 134 |  |  | 307 |
Total net investment | $ | 1,291 |  |  | $ | 212 |  |  | $ | 1,503 |
The following table presents the minimum future payments due from customers for sales-type and direct financing leases:
| December 31, 2023
| Sales-Type and Direct Financing
| (In millions)
2024 | $ | 332 |
2025 | 268
2026 | 228
2027 | 159
2028 | 103 |
Thereafter | 307
| $ | 1,397 |

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
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