Other Assets and Liabilites

3 Months Ended

Mar. 31, 2022

Other Assets [Abstract]

Other Assets and Liabilities Disclosure

Other Assets and Liabilities

Lessee Operating and Finance Leases

The Company leases certain assets, consisting primarily of real estate, and assesses at contract inception whether a contract is, or contains, a lease. The following tables present additional information on leases, excluding leases related to the lease financing businesses:

	March 31, 2022						December 31, 2021
(Dollars in millions)	Operating Leases			Finance Leases			Operating Leases			Finance Leases
ROU assets	$	1,126		$	22		$	1,168		$	22
Lease liabilities	1,529			26			1,600			26
Weighted average remaining term	6.5 years			6.2 years			6.6 years			6.4 years
Weighted average discount rate	2.3		%	3.4		%	2.3		%	3.5		%

	Three Months Ended March 31,
(Dollars in millions)	2022		2021
Operating lease costs	$	85	$	85

Lessor Operating Leases

The Company’s two primary lessor businesses are equipment financing and structured real estate with income recorded in Operating lease income on the Consolidated Statements of Income. The following table presents a summary of assets under operating leases and activity related to assets under operating leases. This table excludes subleases on assets included in premises and equipment.

(Dollars in millions)	Mar 31, 2022		Dec 31, 2021
Assets held under operating leases (1)	$	2,034	$	2,110
Accumulated depreciation	(524)		(539)
Net	$	1,510	$	1,571

(1) Includes certain land parcels subject to operating leases that have indefinite lives.

Bank-Owned Life Insurance

Bank-owned life insurance consists of life insurance policies held on certain teammates for which the Company is the beneficiary. These policies provide the Company an efficient form of funding for retirement and other employee benefits costs. The carrying value of bank-owned life insurance was $7.5 billion at March 31, 2022 and $7.3 billion December 31, 2021.