Leases (Tables)
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6 Months Ended |
Jun. 30, 2019 |
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| Leases [Abstract] |
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| Lease, Cost |
The table below provides the components of lease cost and supplemental information for the three and six months ended June 30, 2019.
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Lease Cost and Supplemental Information |
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(Dollars in millions) |
Three Months Ended June 30, 2019 |
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Six Months Ended June 30, 2019 |
Operating lease cost |
$ |
520 |
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$ |
1,039 |
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Variable lease cost (1)
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113 |
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240 |
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Total lease cost (2)
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$ |
633 |
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$ |
1,279 |
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Right-of-use assets obtained in exchange for new operating lease liabilities (3)
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$ |
263 |
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$ |
648 |
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Operating cash flows from operating leases (4)
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499 |
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1,000 |
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(1) |
Primarily consists of payments for common area maintenance and property taxes. |
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(2) |
Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. |
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(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.
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| Lessor, Maturity of Operating Lease Payments to be Received |
The maturities of lessor and lessee arrangements outstanding at June 30, 2019 are presented in the table below based on undiscounted cash flows.
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Maturities of Lessor and Lessee Arrangements |
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Lessor |
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Lessee (1)
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Operating
Leases
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Sales-type and
Direct Financing
Leases (2)
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Operating
Leases
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(Dollars in millions) |
June 30, 2019 |
Remainder of 2019 |
$ |
402 |
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$ |
3,172 |
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$ |
1,002 |
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2020 |
725 |
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5,816 |
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1,907 |
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2021 |
612 |
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4,766 |
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1,686 |
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2022 |
516 |
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3,100 |
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1,426 |
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2023 |
411 |
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1,598 |
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1,167 |
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Thereafter |
1,217 |
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2,784 |
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4,896 |
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Total undiscounted
cash flows
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$ |
3,883 |
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$ |
21,236 |
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$ |
12,084 |
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Less: Net present
value adjustment
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1,694 |
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1,845 |
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Total (3)
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$ |
19,542 |
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$ |
10,239 |
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(1) |
Excludes $1.6 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin later in 2019.
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(2) |
Includes $15.8 billion in commercial lease financing receivables and $3.7 billion in direct/indirect consumer lease financing receivables.
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(3)
Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
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| Lessor, Maturity of Lease Receivable of Sales-type and Direct Financing Lease |
The maturities of lessor and lessee arrangements outstanding at June 30, 2019 are presented in the table below based on undiscounted cash flows.
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Maturities of Lessor and Lessee Arrangements |
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Lessor |
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Lessee (1)
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Operating
Leases
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Sales-type and
Direct Financing
Leases (2)
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Operating
Leases
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(Dollars in millions) |
June 30, 2019 |
Remainder of 2019 |
$ |
402 |
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$ |
3,172 |
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$ |
1,002 |
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2020 |
725 |
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5,816 |
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1,907 |
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2021 |
612 |
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4,766 |
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1,686 |
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2022 |
516 |
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3,100 |
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1,426 |
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2023 |
411 |
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1,598 |
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1,167 |
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Thereafter |
1,217 |
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2,784 |
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4,896 |
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Total undiscounted
cash flows
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$ |
3,883 |
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$ |
21,236 |
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$ |
12,084 |
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Less: Net present
value adjustment
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1,694 |
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1,845 |
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Total (3)
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$ |
19,542 |
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$ |
10,239 |
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(1) |
Excludes $1.6 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin later in 2019.
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(2) |
Includes $15.8 billion in commercial lease financing receivables and $3.7 billion in direct/indirect consumer lease financing receivables.
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(3)
Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
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| Lessee, Maturity of Operating Lease Liability |
The maturities of lessor and lessee arrangements outstanding at June 30, 2019 are presented in the table below based on undiscounted cash flows.
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Maturities of Lessor and Lessee Arrangements |
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Lessor |
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Lessee (1)
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Operating
Leases
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Sales-type and
Direct Financing
Leases (2)
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Operating
Leases
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(Dollars in millions) |
June 30, 2019 |
Remainder of 2019 |
$ |
402 |
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$ |
3,172 |
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$ |
1,002 |
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2020 |
725 |
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5,816 |
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1,907 |
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2021 |
612 |
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4,766 |
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1,686 |
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2022 |
516 |
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3,100 |
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1,426 |
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2023 |
411 |
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1,598 |
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1,167 |
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Thereafter |
1,217 |
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2,784 |
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4,896 |
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Total undiscounted
cash flows
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$ |
3,883 |
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$ |
21,236 |
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$ |
12,084 |
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Less: Net present
value adjustment
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1,694 |
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1,845 |
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Total (3)
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$ |
19,542 |
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$ |
10,239 |
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(1) |
Excludes $1.6 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin later in 2019.
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(2) |
Includes $15.8 billion in commercial lease financing receivables and $3.7 billion in direct/indirect consumer lease financing receivables.
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(3)
Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
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