Premises and equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Premises and Equipment

The detail of premises and equipment was as follows:

	December 31,
(Dollars in millions)	2023		2022
Land	$	148	$	149
Buildings		685		654
Leasehold improvements		413		387
Furniture and equipment		1,097		1,004
		2,343		2,194
Less: accumulated depreciation and amortization		1,220		1,156
Right-of-use assets — operating leases		616		616
Premises and equipment, net	$	1,739	$	1,654

Summary of Lease Costs for Operating Leases, Cash Paid Toward Lease Liabilities, and Weighted-Average Remaining Term and Discount Rates of Operating Leases

The following table presents information about the Company’s lease costs for operating leases recorded in the Consolidated Balance Sheet, cash paid toward lease liabilities, and the weighted-average remaining term and discount rates of the operating leases.

	Year Ended December 31,
(Dollars in millions)	2023			2022			2021
Lease cost
Operating lease cost	$	154		$	139		$	102
Short-term lease cost		—			8			—
Variable lease cost		4			4			4
Total lease cost	$	158		$	151		$	106
Other information
Right-of-use assets:
Obtained in exchange for       new operating lease liabilities	$	134		$	138		$	58
Acquired in business combination		—			226			—
Cash paid toward lease liabilities		158			143			107
Weighted-average remaining lease term	7 years			7 years			6 years
Weighted-average discount rate		3.37	%		2.97	%		2.51	%

Summary of Minimum Lease Payments Under Noncancelable Operating Leases

Minimum lease payments under noncancelable operating leases are summarized in the following table.

(Dollars in millions)
Year ending December 31:
2024	$	162
2025		145
2026		122
2027		101
2028		75
Later years		208
Total lease payments		813
Less: imputed interest		96
Total	$	717