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Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Operating and Finance Lease Assets and Liabilities | The following table presents supplemental balance sheet information and remaining weighted average lease terms and discount rates. Supplemental Lease Information
dollars in millions | Classification |  | September 30, 2023 |  | December 31, 2022
Lease assets: |  |  |  |  |
Operating lease ROU assets | Other assets |  | $ | 403 |  |  | $ | 345 |
Finance leases | Premises and equipment |  | 9 |  |  | 7 |
Total lease assets |  |  | $ | 412 |  |  | $ | 352 |
Lease liabilities: |  |  |  |  |
Operating leases | Other liabilities |  | $ | 411 |  |  | $ | 352 |
Finance leases | Other borrowings |  | 9 |  |  | 7 |
Total lease liabilities |  |  | $ | 420 |  |  | $ | 359 |
Weighted-average remaining lease terms: |  |  |  |  |
Operating leases |  |  | 8.4 years |  | 9.6 years
Finance leases |  |  | 15.1 years |  | 4.1 years
Weighted-average discount rate: |  |  |  |  |
Operating leases |  |  | 2.70 | % |  | 2.19 | %
Finance leases |  |  | 3.48 |  |  | 2.34 |
Schedule of Net Lease Cost | The following table presents components of lease cost: Components of Net Lease Cost
dollars in millions |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
| Classification |  | 2023 |  | 2022 |  | 2023 |  | 2022
Lease cost |  |  |  |  |  |  |  |  |
Operating lease cost (1) | Occupancy Expense |  | $ | 18 |  |  | $ | 14 |  |  | $ | 46 |  |  | $ | 44 |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization of leased assets | Equipment expense |  | 1 |  |  | 1 |  |  | 1 |  |  | 2 |
Variable lease cost | Occupancy Expense |  | 8 |  |  | 3 |  |  | 16 |  |  | 9 |
Sublease income | Occupancy Expense |  | (1) |  |  | (1) |  |  | (2) |  |  | (2) |
Net lease cost |  |  | $ | 26 |  |  | $ | 17 |  |  | $ | 61 |  |  | $ | 53 |
(1) Includes short-term lease cost, which is not significant.
Schedule of Supplemental Cash Flow Information | The following table presents supplemental cash flow information related to leases: Supplemental Cash Flow Information
dollars in millions | Nine Months Ended September 30,
| 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 45 |  |  | $ | 40 |
Financing cash flows from finance leases | 2 |  |  | 2 |
ROU assets obtained in exchange for new operating lease liabilities | 69 |  |  | 17 |
ROU assets obtained in exchange for new finance lease liabilities | 4 |  |  | 5 |
Schedule of Operating Lease Income | The table that follows presents lease income related to BancShares’ operating and finance leases: Lease Income
dollars in millions | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Lease income – Operating leases | $ | 229 |  |  | $ | 201 |  |  | $ | 664 |  |  | $ | 592 |
Variable lease income – Operating leases (1) | 19 |  |  | 18 |  |  | 55 |  |  | 48 |
Rental income on operating leases | 248 |  |  | 219 |  |  | 719 |  |  | 640 |
Interest income - Sales type and direct financing leases | 43 |  |  | 43 |  |  | 127 |  |  | 127 |
Variable lease income included in Other noninterest income (2) | 15 |  |  | 13 |  |  | 44 |  |  | 37 |
Interest income - Leveraged leases | 2 |  |  | 5 |  |  | 11 |  |  | 14 |
Total lease income | $ | 308 |  |  | $ | 280 |  |  | $ | 901 |  |  | $ | 818 |
(1) Primarily includes per diem railcar operating lease rental income earned on a time or mileage usage basis. (2) Includes leased equipment property tax reimbursements due from customers of $5 million and $12 million for the three and nine months ended September 30, 2023, respectively, and revenue related to insurance coverage on leased equipment of $11 million and $31 million for the three and nine months ended September 30, 2023, respectively. Includes leased equipment property tax reimbursements due from customers of $4 million and $13 million for the three and nine months ended September 30, 2022, respectively, and revenue related to insurance coverage on leased equipment of $9 million and $24 million for the three and nine months ended September 30, 2022, respectively.

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