Operating Lease Equipment

6 Months Ended

Jun. 30, 2019

Operating Lease Equipment

Operating Lease Equipment

9. Operating Lease Equipment

Operating lease equipment was $894 million and $518 million at June 30, 2019 and December 31, 2018, respectively. Lease income relating to lease payments for operating leases was $45 million and $22 million for the three months ended June 30, 2019 and 2018, respectively and $66 million and $45 million for the six months ended June 30, 2019 and 2018, respectively.

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. As a result of these recoverability assessments, the Bancorp did not recognize impairment losses associated with operating lease assets for both the three months ended June 30, 2019 and 2018, as well as the six months ended June 30, 2019, and recognized $2 million of impairment losses for the six months ended June 30, 2018. The recognized impairment losses were recorded in corporate banking revenue in the Condensed Consolidated Statements of Income.

The following table presents undiscounted future lease payments for operating leases for the remainder of 2019 through 2024 and thereafter:
		Undiscounted Cash Flows
As of June 30, 2019 ($ in millions)
Remainder of 2019	$	94
2020		158
2021		126
2022		97
2023		70
2024		48
Thereafter		80
Total operating lease payments	$	673