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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessee, Operating Leases [Text Block]

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

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

Summary of sales-type, direct financing, operating, and leveraged leases

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

Minimum future payments due from customers for sales-type, direct financing, and operating leases

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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- References

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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

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

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-Topic 842
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-Name Accounting Standards Codification
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- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-10

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Tabular disclosure of the components of the investment in leveraged leases.

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