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Leasing Activity (Tables)

12 Months Ended

Dec. 31, 2019

Table 7.1: Leasing Revenue



(in millions)	Year ended December 31, 2019
Interest income on lease financing	$	869
Other lease revenues:
Variable revenues on lease financing	96
Fixed revenues on operating leases	1,393
Variable revenues on operating leases	66
Other lease-related revenues (1)	57
Lease income	1,612
Total leasing revenue	$	2,481

(1)

Predominantly includes net gains on disposition of assets leased under operating leases or lease financings.

Table 7.2: Investment in Lease Financing

Table 7.3 presents future lease payments owed by our lessees.

Table 7.3: Maturities of Lease Receivables



	December 31, 2019
(in millions)	Direct financing and sales- type leases		Operating leases
2020	$	5,953	883
2021	4,997		614
2022	2,951		434
2023	1,634		298
2024	862		199
Thereafter	1,717		447
Total lease receivables	$	18,114	2,875

Table 7.4 presents balances for our operating leases.

Table 7.4: Operating Lease Right of Use (ROU) Assets and Lease Liabilities

Table 7.5 provides the composition of our lease costs, which are predominantly included in net occupancy expense.

Table 7.5: Lease Costs



(in millions)	Year ended December 31, 2019
Fixed lease expense - operating leases	$	1,212
Variable lease expense	314
Other (1)	(68		)
Total lease costs	$	1,458

(1)

Predominantly includes gains recognized from sale leaseback transactions and sublease rental income.

Table 7.6: Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 – Leases

Table 7.7: Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 – Leases



(in millions, except for weighted averages)	December 31, 2019
2020	$	1,006
2021	1,045
2022	897
2023	750
2024	597
Thereafter	1,672
Total lease payments	5,967
Less: imputed interest	670
Total operating lease liabilities	$	5,297
Weighted average remaining lease term (in years)	7.1
Weighted average discount rate	3.1		%