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Premises, Equipment, and Leases (Tables) | 12 Months Ended
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Dec. 31, 2021
Property, Plant and Equipment [Abstract] |
Summary of Premises and Equipment | Premises and equipment were comprised of the following at December 31, 2021 and 2020: Table 8.6.1 PREMISES & EQUIPMENT
(Dollars in millions) |  | December 31, 2021 |  | December 31, 2020
Land |  | $ | 163 |  |  | $ | 182 |
Buildings |  | 543 |  |  | 594 |
Leasehold improvements |  | 74 |  |  | 73 |
Furniture, fixtures, and equipment |  | 276 |  |  | 269 |
Fixed assets held for sale (a) |  | 16 |  |  | 18 |
Total premises and equipment |  | 1,072 |  |  | 1,136 |
Less accumulated depreciation and amortization |  | (407) |  |  | (377) |
Premises and equipment, net |  | $ | 665 |  |  | $ | 759 |
(a) Primarily comprised of land and buildings.
Summary of Lease Assets and Liabilities | The following table provides details of the classification of FHN's right-of-use assets and lease liabilities included in the Consolidated Balance Sheets. Table 8.6.2 RIGHT-OF-USE ASSETS & LEASE LIABILITIES
(Dollars in millions) |  | December 31, 2021 |  | December 31, 2020
Lease right-of-use assets: | Classification |  |  |
Operating lease right-of-use assets | Other assets | $ | 345 |  |  | $ | 367 |
Finance lease right-of-use assets | Other assets | 3 |  |  | 4 |
Total lease right-of-use assets |  | $ | 348 |  |  | $ | 371 |
Lease liabilities: |  |  |  |
Operating lease liabilities | Other liabilities | $ | 382 |  |  | $ | 407 |
Finance lease liabilities | Other liabilities | 4 |  |  | 4 |
Total lease liabilities |  | $ | 386 |  |  | $ | 411 |
Components of Lease Expense, Other Information, and Supplemental Cash Flow | The following table details the weighted average remaining lease term and discount rate for FHN's operating and finance leases as of December 31, 2021 and 2020. Table 8.6.3 REMAINING LEASE TERMS & DISCOUNT RATES
| December 31, 2021 |  | December 31, 2020 |  |
Weighted Average Remaining Lease Terms |  |  |  |  |
Operating leases | 12.37 years |  | 12.49 years |  |
Finance leases | 10.61 years |  | 11.45 years |  |
Weighted Average Discount Rate |  |  |  |  |
Operating leases | 2.35 | % |  | 2.39 | % |  |
Finance leases | 2.85 | % |  | 3.05 | % |  |
The following table provides a detail of the components of lease expense and other lease information for the years ended December 31, 2021, 2020, and 2019: Table 8.6.4 LEASE EXPENSE & OTHER INFORMATION
(Dollars in millions) | 2021 |  | 2020 |  | 2019
Lease cost |  |  |  |  |
Operating lease cost | $ | 48 |  |  | $ | 39 |  |  | $ | 25 |
Sublease income | (1) |  |  | (1) |  |  | — |
Total lease cost | $ | 47 |  |  | $ | 38 |  |  | $ | 25 |
Other information |  |  |  |  |
(Gain) loss on right-of-use asset impairment - operating leases | $ | 3 |  |  | $ | 6 |  |  | $ | 3 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | 53 |  |  | 41 |  |  | 23 |
Right-of-use assets obtained in exchange for new lease obligations: |  |  |  |  |
Operating leases | 19 |  |  | 216 |  |  | 48 |
Finance leases | — |  |  | 2 |  |  | 1 |
Maturity of Lease Liabilities, Operating | The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of December 31, 2021: Table 8.6.5 LEASE LIABILITY MATURITIES
(Dollars in millions) | December 31, 2021
2022 | $ | 49 |
2023 | 45 |
2024 | 40 |
2025 | 39 |
2026 | 37 |
2027 and thereafter | 238 |
Total lease payments | 448 |
Less lease liability interest | (62) |
Total lease liability | $ | 386 |
Maturity of Lease Liabilities, Finance | The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of December 31, 2021: Table 8.6.5 LEASE LIABILITY MATURITIES
(Dollars in millions) | December 31, 2021
2022 | $ | 49 |
2023 | 45 |
2024 | 40 |
2025 | 39 |
2026 | 37 |
2027 and thereafter | 238 |
Total lease payments | 448 |
Less lease liability interest | (62) |
Total lease liability | $ | 386 |
Summary of Lease Net Investments | The components of the Company’s net investment in leases as of December 31, 2021 and 2020 were as follows: Table 8.6.6 LEASE NET INVESTMENTS
(Dollars in millions) | December 31, 2021 |  | December 31, 2020
Lease receivable | $ | 729 |  |  | $ | 535 |
Unearned income | (135) |  |  | (108) |
Guaranteed residual | 97 |  |  | 92 |
Unguaranteed residual | 102 |  |  | 68 |
Total net investment | $ | 793 |  |  | $ | 587 |
Maturity of Lease Receivables as Lessor | Maturities of the Company's lease receivables as of December 31, 2021 were as follows: Table 8.6.7 LEASE RECEIVABLE MATURITIES
(Dollars in millions) | December 31, 2021
2022 | $ | 136 |
2023 | 122 |
2024 | 96 |
2025 | 73 |
2026 | 57 |
2027 and thereafter | 245 |
Total future minimum lease payments | $ | 729 |

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