Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.24.3
Leases (Tables)
9 Months Ended
Sep. 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 September 30, 2024 and December 31, 2023.
Net Investment (1)
(Dollars in millions) September 30
2024
December 31
2023
Lease receivables $ 17,348  $ 16,565 
Unguaranteed residuals 2,519  2,485 
   Total net investment in sales-type and direct
      financing leases
$ 19,867  $ 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 $7.5 billion and $6.8 billion at September 30, 2024 and December 31, 2023.
Sales-type Lease, Lease Income
The table below presents lease income for the three and nine months ended September 30, 2024 and 2023.
Lease Income
Three Months Ended
September 30
Nine Months Ended
September 30
(Dollars in millions) 2024 2023 2024 2023
Sales-type and direct financing
   leases
$ 277  $ 206  $ 789  $ 559 
Operating leases 228  233  682  705 
   Total lease income $ 505  $ 439  $ 1,471  $ 1,264 
Operating Lease, Lease Income
The table below presents lease income for the three and nine months ended September 30, 2024 and 2023.
Lease Income
Three Months Ended
September 30
Nine Months Ended
September 30
(Dollars in millions) 2024 2023 2024 2023
Sales-type and direct financing
   leases
$ 277  $ 206  $ 789  $ 559 
Operating leases 228  233  682  705 
   Total lease income $ 505  $ 439  $ 1,471  $ 1,264 
Direct Financing Lease, Lease Income
The table below presents lease income for the three and nine months ended September 30, 2024 and 2023.
Lease Income
Three Months Ended
September 30
Nine Months Ended
September 30
(Dollars in millions) 2024 2023 2024 2023
Sales-type and direct financing
   leases
$ 277  $ 206  $ 789  $ 559 
Operating leases 228  233  682  705 
   Total lease income $ 505  $ 439  $ 1,471  $ 1,264 
Supplemental Information
The table below provides information on the right-of-use assets and lease liabilities at September 30, 2024 and December 31, 2023.
Lessee Arrangements
(Dollars in millions) September 30
2024
December 31
2023
Right-of-use assets $ 8,614  $ 9,150 
Lease liabilities 9,247  9,782