Leases (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Components of Net Investment in Sales-Type and Direct Financing Leases

The components of the net investment in sales-type and direct financing leases, at December 31, were as follows:

(Dollars in Millions)	2022		2021
Lease receivables	$	8,731	$	10,738
Unguaranteed residual values accruing to the lessor’s benefit		1,323		1,610
Total net investment in sales-type and direct financing leases	$	10,054	$	12,348

Contractual Future Lease Payments to be Received

The contractual future lease payments to be received by the Company, at December 31, 2022, were as follows:

(Dollars in Millions)	Sales-type and direct financing leases			Operating leases
2023	$	3,496		$	134
2024		2,765			103
2025		1,665			69
2026		658			33
2027		284			18
Thereafter		447			26
Total lease payments		9,315		$	383
Amounts representing interest		(584	)
Lease receivables	$	8,731

Summary of Amounts Relevant to Company's Assets Leased for Use in its Operations

The following table presents amounts relevant to the Company’s assets leased for use in its operations for the years ended December 31:

(Dollars in Millions)	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	294	$	288	$	305
Operating cash flows from finance leases		4		5		6
Financing cash flows from finance leases		14		12		12
Right of use assets obtained in exchange for new operating lease liabilities		239		164		128
Right of use assets obtained in exchange for new finance lease liabilities		91		75		6

Summary of Weighted-Average Remaining Lease Terms and Discount Rates

The following table presents the weighted-average remaining lease terms and discount rates of the Company’s assets leased for use in its operations at December 31:

	2022			2021
Weighted-average remaining lease term of operating leases (in years)		6.8			7.0
Weighted-average remaining lease term of finance leases (in years)		8.5			9.5
Weighted-average discount rate of operating leases		3.3	%		2.7	%
Weighted-average discount rate of finance leases		7.9	%		9.3	%

Schedule of Contractual Future Lease Obligations

The contractual future lease obligations of the Company at December 31, 2022, were as follows:

(Dollars in Millions)	Operating leases			Finance leases
2023	$	369		$	29
2024		318			51
2025		255			48
2026		198			33
2027		152			10
Thereafter		410			28
Total lease payments		1,702			199
Amounts representing interest		(202	)		(22	)
Lease liabilities	$	1,500		$	177