Operating Lease Equipment

12 Months Ended

Dec. 31, 2019

Operating Lease Equipment

Operating Lease Equipment

9. OPERATING LEASE EQUIPMENT

Operating lease equipment was $848 million and $518 million at December 31, 2019 and 2018, respectively. Lease income relating to lease payments for operating leases was $151 million, $84 million and $96 million for the years ended December 31, 2019, 2018 and 2017, respectively. Additionally, the Bancorp received payments of $157 million related to operating leases during the year ended December 31, 2019.

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 recognized $3 million, $4 million and $52 million of impairment losses associated with operating lease assets for the years ended December 31, 2019, 2018 and 2017, respectively. The recognized impairment losses were recorded in corporate banking revenue in the Consolidated Statements of Income.

The following table presents undiscounted future lease payments for operating leases for the years ending December 31:

As of December 31, 2019 ($ in millions)	Undiscounted Cash     Flows
2020	$	152
2021		124
2022		94
2023		67
2024		38
Thereafter		63
Total operating lease payments	$	538