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Leases (Notes)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases [Text Block] LEASES
As a lessee, the Corporation has entered into operating leases for the majority of its real estate locations, primarily retail and office space. Total lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows:
(in millions)
Years Ended December 31202420232022
Operating lease expense$69 $67 $68 
Variable lease expense19 18 17 
Less: sublease income(1)(1)(1)
Total lease expense$87 $84 $84 
Supplemental balance sheet information related to leases is summarized as follows:
(dollar amounts in millions)
Years Ended December 31202420232022
Included in accrued income and other assets
Right-of-use (ROU) assets$292 $317 $338 
Included in accrued expenses and other liabilities
Operating lease liabilities357 388 406 
Weighted average discount rate3.92 %3.72 %3.53 %
Weighted average remaining lease term in years8 9 9 
Supplemental cash flow information related to leases is summarized as follows:
(in millions)
Years Ended December 31202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$80 $69 $66 
ROU assets obtained in exchange for new liabilities27 28 80 
As of December 31, 2024, the contractual maturities of operating lease liabilities were as follows:
(in millions)
Years Ended December 31
2025$67 
202667 
202756 
202848 
202936 
Thereafter149 
Total contractual maturities423 
Less imputed interest(66)
Total operating lease liabilities$357 
As a lessor, the Corporation leases certain types of manufacturing and warehouse equipment as well as public and private transportation vehicles to its customers. The Corporation recognized lease-related revenue, primarily interest income from sales-type and direct financing leases of $47 million, $40 million and $21 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Corporation's net investment in sales-type and direct financing leases was $675 million and $761 million at December 31, 2024 and 2023, respectively.
As of December 31, 2024, the contractual maturities of sales-type and direct financing lease receivables were as follows:
(in millions)
Years Ended December 31
2025$136 
202696 
202768 
202855 
202949 
Thereafter245 
Total lease payments receivable649 
Unguaranteed residual values51 
Less deferred interest income(25)
Total lease receivables (a)$675 
(a)Excludes net investment in leveraged leases of $47 million.