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LEASES (Tables) | 6 Months Ended
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Jun. 30, 2024
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 |  | June 30, 2024 |  | December 31, 2023
Lease assets: |  |  |  |  |
Operating lease ROU assets | Other assets |  | $ | 344 |  |  | $ | 354 |
Finance leases | Premises and equipment |  | 8 |  |  | 9 |
Total lease assets |  |  | $ | 352 |  |  | $ | 363 |
Lease liabilities: |  |  |  |  |
Operating leases | Other liabilities |  | $ | 385 |  |  | $ | 396 |
Finance leases | Other borrowings |  | 8 |  |  | 9 |
Total lease liabilities |  |  | $ | 393 |  |  | $ | 405 |
Weighted-average remaining lease terms: |  |  |  |  |
Operating leases |  |  | 7.7 years |  | 8.1 years
Finance leases |  |  | 16.1 years |  | 15.4 years
Weighted-average discount rate: |  |  |  |  |
Operating leases |  |  | 2.79 | % |  | 2.70 | %
Finance leases |  |  | 3.59 |  |  | 3.52 |
Schedule of Net Lease Cost | The following table presents components of lease cost: Components of Net Lease Cost
dollars in millions |  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
| Classification |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Operating lease cost | Occupancy expense |  | $ | 19 |  |  | $ | 15 |  |  | $ | 37 |  |  | $ | 28 |  |  |
Finance lease ROU asset amortization | Equipment expense |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  |
Variable lease cost (1) | Occupancy expense |  | 6 |  |  | 4 |  |  | 15 |  |  | 7 |  |  |
Sublease income | Occupancy expense |  | (2) |  |  | (1) |  |  | (3) |  |  | (1) |  |  |
Net lease cost (1) |  |  | $ | 23 |  |  | $ | 18 |  |  | $ | 50 |  |  | $ | 35 |  |  |
(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 | Six Months Ended June 30,
| 2024 |  | 2023 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 37 |  |  | $ | 28 |  |  |
Financing cash flows from finance leases | 1 |  |  | 1 |  |  |
ROU assets obtained in exchange for new operating lease liabilities | 22 |  |  | 10 |  |  |
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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Lease income – Operating leases | $ | 241 |  |  | $ | 221 |  |  | $ | 478 |  |  | $ | 435 |  |  |
Variable lease income – Operating leases (1) | 18 |  |  | 17 |  |  | 36 |  |  | 36 |  |  |
Rental income on operating leases | 259 |  |  | 238 |  |  | 514 |  |  | 471 |  |  |
Interest income – Sales type and direct financing leases | 44 |  |  | 43 |  |  | 87 |  |  | 84 |  |  |
Variable lease income included in Other noninterest income (2) | 15 |  |  | 14 |  |  | 31 |  |  | 28 |  |  |
Interest income – Leveraged leases | 1 |  |  | 4 |  |  | 2 |  |  | 9 |  |  |
Total lease income | $ | 319 |  |  | $ | 299 |  |  | $ | 634 |  |  | $ | 592 |  |  |
(1) Primarily includes per diem railcar operating lease rental income earned on a time or mileage usage basis. (2) Includes revenue related to insurance coverage on leased equipment and leased equipment property tax reimbursements due from customers.

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