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Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Components of Lease Income
The components of lease income were as follows:
Three Months Ended,
(in millions)March 31, 2024March 31, 2023
Interest income on lease financing (1)
$38 $20 
(1)Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income.
Components of Net Investment in Direct Financing Leases The components of net investment in direct financing leases, including the carrying amount of the lease receivables, as well as the unguaranteed residual asset were as follows:
(in millions)March 31, 2024December 31, 2023
Net investment in the lease - lease payments receivable$2,960 $3,187 
Net investment in the lease - unguaranteed residual assets329 321 
Total lease payments$3,289 $3,508 
Maturity Analysis of Undiscounted Lease Receivables
The following table presents the remaining maturity analysis of the undiscounted lease receivables, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition:

(in millions)March 31, 2024
2024$410 
2025565 
2026837 
2027509 
2028296 
Thereafter672 
Total lease payments$3,289 
Plus: deferred origination costs14 
Less: unearned income(243)
Less: purchase accounting adjustment$(70)
Total lease finance receivables, net$2,990 
Lease Cost Information
The components of lease expense were as follows:

Three Months Ended,
(in millions)March 31, 2024March 31, 2023
Operating lease cost$18 $11 
Total lease cost$18 $11 

Supplemental cash flow information related to the leases for the following periods:

Three Months Ended,
(in millions)March 31, 2024March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$18 $10 
Supplemental Balance Sheet Information
Supplemental balance sheet information related to the leases for the following periods:

(in millions, except lease term and discount rate)March 31, 2024December 31, 2023
Operating Leases:
Operating lease right-of-use assets (1)
$415 $426 
Operating lease liabilities (2)
$437 $446 
Weighted average remaining lease term10.9 years11.2 years
Weighted average discount rate %4.70 %4.71 %
(1)Included in Other assets in the Consolidated Statements of Condition.
(2)Included in Other liabilities in the Consolidated Statements of Condition.
Schedule of Minimum Contractual Lease Obligations

(in millions)		March 31, 2024
Maturities of lease liabilities:
2024$54 
202567 
202659 
202753 
202846 
Thereafter290 
Total lease payments$569 
Less: imputed interest$(132)
Total present value of lease liabilities$437