Leases (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| Leases [Abstract] |
|
| Lease, Cost |
The table below provides the components of lease cost and supplemental information for the three months ended March 31, 2019.
|
|
|
|
|
|
|
Lease Cost and Supplemental Information |
|
|
(Dollars in millions) |
Three Months
Ended
March 31, 2019
|
Operating lease cost |
$ |
519 |
|
Variable lease cost (1)
|
127 |
|
Total lease cost (2)
|
$ |
646 |
|
|
|
Right-of-use assets obtained in exchange for new operating lease liabilities (3)
|
$ |
385 |
|
Operating cash flows from operating leases (4)
|
501 |
|
|
|
(1) |
Primarily consists of payments for common area maintenance and property taxes. |
|
|
(2) |
Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. |
|
|
(3) |
Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. |
(4) Represents cash paid for amounts included in the measurement of lease liabilities.
|
| Lessor, Maturity of Operating Lease Payments to be Received |
The maturities of lessor and lessee arrangements outstanding at March 31, 2019 are presented in the table below based on undiscounted cash flows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturities of Lessor and Lessee Arrangements |
|
|
|
|
|
|
|
Lessor |
|
Lessee (1)
|
|
Operating
Leases
|
|
Sales-type and
Direct Financing
Leases (2)
|
|
Operating
Leases
|
(Dollars in millions) |
March 31, 2019 |
Remainder of 2019 |
$ |
582 |
|
|
$ |
4,818 |
|
|
$ |
1,483 |
|
2020 |
680 |
|
|
5,689 |
|
|
1,854 |
|
2021 |
571 |
|
|
4,533 |
|
|
1,625 |
|
2022 |
479 |
|
|
2,634 |
|
|
1,346 |
|
2023 |
380 |
|
|
1,539 |
|
|
1,076 |
|
Thereafter |
1,105 |
|
|
2,708 |
|
|
4,175 |
|
|
Total undiscounted
cash flows
|
$ |
3,797 |
|
|
$ |
21,921 |
|
|
$ |
11,559 |
|
|
Less: Net present
value adjustment
|
|
|
1,621 |
|
|
1,630 |
|
Total (3)
|
|
|
|
$ |
20,300 |
|
|
$ |
9,929 |
|
|
|
(1) |
Excludes $1.9 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2019.
|
|
|
(2) |
Includes $16.8 billion in commercial lease financing receivables and $3.5 billion in direct/indirect consumer lease financing receivables.
|
(3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
|
| Lessor, Maturity of Lease Receivable of Sales-type and Direct Financing Lease |
The maturities of lessor and lessee arrangements outstanding at March 31, 2019 are presented in the table below based on undiscounted cash flows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturities of Lessor and Lessee Arrangements |
|
|
|
|
|
|
|
Lessor |
|
Lessee (1)
|
|
Operating
Leases
|
|
Sales-type and
Direct Financing
Leases (2)
|
|
Operating
Leases
|
(Dollars in millions) |
March 31, 2019 |
Remainder of 2019 |
$ |
582 |
|
|
$ |
4,818 |
|
|
$ |
1,483 |
|
2020 |
680 |
|
|
5,689 |
|
|
1,854 |
|
2021 |
571 |
|
|
4,533 |
|
|
1,625 |
|
2022 |
479 |
|
|
2,634 |
|
|
1,346 |
|
2023 |
380 |
|
|
1,539 |
|
|
1,076 |
|
Thereafter |
1,105 |
|
|
2,708 |
|
|
4,175 |
|
|
Total undiscounted
cash flows
|
$ |
3,797 |
|
|
$ |
21,921 |
|
|
$ |
11,559 |
|
|
Less: Net present
value adjustment
|
|
|
1,621 |
|
|
1,630 |
|
Total (3)
|
|
|
|
$ |
20,300 |
|
|
$ |
9,929 |
|
|
|
(1) |
Excludes $1.9 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2019.
|
|
|
(2) |
Includes $16.8 billion in commercial lease financing receivables and $3.5 billion in direct/indirect consumer lease financing receivables.
|
(3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
|
| Lessee, Maturity of Operating Lease Liability |
The maturities of lessor and lessee arrangements outstanding at March 31, 2019 are presented in the table below based on undiscounted cash flows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturities of Lessor and Lessee Arrangements |
|
|
|
|
|
|
|
Lessor |
|
Lessee (1)
|
|
Operating
Leases
|
|
Sales-type and
Direct Financing
Leases (2)
|
|
Operating
Leases
|
(Dollars in millions) |
March 31, 2019 |
Remainder of 2019 |
$ |
582 |
|
|
$ |
4,818 |
|
|
$ |
1,483 |
|
2020 |
680 |
|
|
5,689 |
|
|
1,854 |
|
2021 |
571 |
|
|
4,533 |
|
|
1,625 |
|
2022 |
479 |
|
|
2,634 |
|
|
1,346 |
|
2023 |
380 |
|
|
1,539 |
|
|
1,076 |
|
Thereafter |
1,105 |
|
|
2,708 |
|
|
4,175 |
|
|
Total undiscounted
cash flows
|
$ |
3,797 |
|
|
$ |
21,921 |
|
|
$ |
11,559 |
|
|
Less: Net present
value adjustment
|
|
|
1,621 |
|
|
1,630 |
|
Total (3)
|
|
|
|
$ |
20,300 |
|
|
$ |
9,929 |
|
|
|
(1) |
Excludes $1.9 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2019.
|
|
|
(2) |
Includes $16.8 billion in commercial lease financing receivables and $3.5 billion in direct/indirect consumer lease financing receivables.
|
(3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
|