Leases (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Leases [Abstract] |
|
| Lease, Cost |
The table below provides the components of lease cost and supplemental information for 2019.
|
|
|
|
|
|
|
Lease Cost and Supplemental Information for 2019 |
|
|
(Dollars in millions) |
|
Operating lease cost |
$ |
2,085 |
|
Variable lease cost (1)
|
498 |
|
Total lease cost (2)
|
$ |
2,583 |
|
|
|
Right-of-use assets obtained in exchange for new operating lease liabilities (3)
|
$ |
931 |
|
Operating cash flows from operating leases (4)
|
2,009 |
|
|
|
(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 December 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) |
December 31, 2019 |
2020 |
$ |
843 |
|
|
$ |
4,657 |
|
|
$ |
1,966 |
|
2021 |
746 |
|
|
4,887 |
|
|
1,763 |
|
2022 |
651 |
|
|
4,259 |
|
|
1,502 |
|
2023 |
530 |
|
|
3,416 |
|
|
1,240 |
|
2024 |
397 |
|
|
1,939 |
|
|
1,098 |
|
Thereafter |
1,057 |
|
|
1,910 |
|
|
4,225 |
|
|
Total undiscounted
cash flows
|
$ |
4,224 |
|
|
21,068 |
|
|
11,794 |
|
|
Less: Net present
value adjustment
|
|
|
1,756 |
|
|
1,701 |
|
Total (3)
|
|
|
|
$ |
19,312 |
|
|
$ |
10,093 |
|
|
|
(1) |
Excludes $1.5 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2020.
|
|
|
(2) |
Includes $15.1 billion in commercial lease financing receivables and $4.2 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 December 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) |
December 31, 2019 |
2020 |
$ |
843 |
|
|
$ |
4,657 |
|
|
$ |
1,966 |
|
2021 |
746 |
|
|
4,887 |
|
|
1,763 |
|
2022 |
651 |
|
|
4,259 |
|
|
1,502 |
|
2023 |
530 |
|
|
3,416 |
|
|
1,240 |
|
2024 |
397 |
|
|
1,939 |
|
|
1,098 |
|
Thereafter |
1,057 |
|
|
1,910 |
|
|
4,225 |
|
|
Total undiscounted
cash flows
|
$ |
4,224 |
|
|
21,068 |
|
|
11,794 |
|
|
Less: Net present
value adjustment
|
|
|
1,756 |
|
|
1,701 |
|
Total (3)
|
|
|
|
$ |
19,312 |
|
|
$ |
10,093 |
|
|
|
(1) |
Excludes $1.5 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2020.
|
|
|
(2) |
Includes $15.1 billion in commercial lease financing receivables and $4.2 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 December 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) |
December 31, 2019 |
2020 |
$ |
843 |
|
|
$ |
4,657 |
|
|
$ |
1,966 |
|
2021 |
746 |
|
|
4,887 |
|
|
1,763 |
|
2022 |
651 |
|
|
4,259 |
|
|
1,502 |
|
2023 |
530 |
|
|
3,416 |
|
|
1,240 |
|
2024 |
397 |
|
|
1,939 |
|
|
1,098 |
|
Thereafter |
1,057 |
|
|
1,910 |
|
|
4,225 |
|
|
Total undiscounted
cash flows
|
$ |
4,224 |
|
|
21,068 |
|
|
11,794 |
|
|
Less: Net present
value adjustment
|
|
|
1,756 |
|
|
1,701 |
|
Total (3)
|
|
|
|
$ |
19,312 |
|
|
$ |
10,093 |
|
|
|
(1) |
Excludes $1.5 billion in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2020.
|
|
|
(2) |
Includes $15.1 billion in commercial lease financing receivables and $4.2 billion in direct/indirect consumer lease financing receivables.
|
(3)
Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
|