LEASES |
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LEASES | LEASES We have operating leases primarily for certain branches, office space, land and office equipment. We have finance leases for certain branches. Our operating leases expire at various dates through the year 2046 and generally include one or more options to renew. Our finance leases expire at various dates through the year 2051 and generally include one or more options to renew. The exercise of lease renewal options is at our sole discretion. As of March 31, 2023, we had operating lease right-of-use assets and operating lease liabilities of $135.1 million and $145.2 million, respectively. We have finance lease right-of-use assets and finance lease liabilities of $25.5 million and $26.2 million, respectively. Our operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of March 31, 2023, we have certain operating lease agreements, primarily for administrative office space, that have not yet commenced. At commencement, it is expected that these leases will add approximately $76.4 million in right-of-use assets and $97.8 million in other liabilities. These operating leases are currently expected to commence throughout the remainder of 2023 with lease terms of up to 21 years. These operating leases include the lease, with a related party, of the future new FNB headquarters building in Pittsburgh, Pennsylvania. The related party operating lease is accounted for in a manner consistent with all other leases on the basis of the legally enforceable terms and conditions of the lease and the related party represents a VIE for which we are not the primary beneficiary. The components of lease expense were as follows: TABLE 8.1
Other information related to leases is as follows: TABLE 8.2
Maturities of lease liabilities were as follows: TABLE 8.3
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LEASES | LEASES We have operating leases primarily for certain branches, office space, land and office equipment. We have finance leases for certain branches. Our operating leases expire at various dates through the year 2046 and generally include one or more options to renew. Our finance leases expire at various dates through the year 2051 and generally include one or more options to renew. The exercise of lease renewal options is at our sole discretion. As of March 31, 2023, we had operating lease right-of-use assets and operating lease liabilities of $135.1 million and $145.2 million, respectively. We have finance lease right-of-use assets and finance lease liabilities of $25.5 million and $26.2 million, respectively. Our operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of March 31, 2023, we have certain operating lease agreements, primarily for administrative office space, that have not yet commenced. At commencement, it is expected that these leases will add approximately $76.4 million in right-of-use assets and $97.8 million in other liabilities. These operating leases are currently expected to commence throughout the remainder of 2023 with lease terms of up to 21 years. These operating leases include the lease, with a related party, of the future new FNB headquarters building in Pittsburgh, Pennsylvania. The related party operating lease is accounted for in a manner consistent with all other leases on the basis of the legally enforceable terms and conditions of the lease and the related party represents a VIE for which we are not the primary beneficiary. The components of lease expense were as follows: TABLE 8.1
Other information related to leases is as follows: TABLE 8.2
Maturities of lease liabilities were as follows: TABLE 8.3
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