Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.24.2
Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Net Investment in Sales-type and Direct Financing Leases
The table below presents the net investment in sales-type and direct financing leases at June 30, 2024 and December 31, 2023.
Net Investment (1)
(Dollars in millions) June 30
2024
December 31
2023
Lease receivables $ 17,068  $ 16,565 
Unguaranteed residuals 2,430  2,485 
   Total net investment in sales-type and direct
      financing leases
$ 19,498  $ 19,050 
(1)In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $7.3 billion and $6.8 billion at June 30, 2024 and December 31, 2023.
Sales-type Lease, Lease Income
The table below presents lease income for the three and six months ended June 30, 2024 and 2023.
Lease Income
Three Months Ended June 30 Six Months Ended June 30
(Dollars in millions) 2024 2023 2024 2023
Sales-type and direct financing
   leases
$ 262  $ 181  $ 512  $ 353 
Operating leases 227  234  454  472 
   Total lease income $ 489  $ 415  $ 966  $ 825 
Operating Lease, Lease Income
The table below presents lease income for the three and six months ended June 30, 2024 and 2023.
Lease Income
Three Months Ended June 30 Six Months Ended June 30
(Dollars in millions) 2024 2023 2024 2023
Sales-type and direct financing
   leases
$ 262  $ 181  $ 512  $ 353 
Operating leases 227  234  454  472 
   Total lease income $ 489  $ 415  $ 966  $ 825 
Direct Financing Lease, Lease Income
The table below presents lease income for the three and six months ended June 30, 2024 and 2023.
Lease Income
Three Months Ended June 30 Six Months Ended June 30
(Dollars in millions) 2024 2023 2024 2023
Sales-type and direct financing
   leases
$ 262  $ 181  $ 512  $ 353 
Operating leases 227  234  454  472 
   Total lease income $ 489  $ 415  $ 966  $ 825 
Supplemental Information
The table below provides information on the right-of-use assets and lease liabilities at June 30, 2024 and December 31, 2023.
Lessee Arrangements
(Dollars in millions) June 30
2024
December 31
2023
Right-of-use assets $ 8,707  $ 9,150 
Lease liabilities 9,310  9,782