Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2023
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, 2023 and December 31, 2022.
Net Investment (1)
(Dollars in millions) September 30
2023		 December 31 2022
Lease receivables $ 15,580  $ 15,123 
Unguaranteed residuals 2,291  2,143 
   Total net investment in sales-type and direct
      financing leases		 $ 17,871  $ 17,266 
(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 $6.6 billion and $6.5 billion at September 30, 2023 and December 31, 2022.
Sales-type Lease, Lease Income
The table below presents lease income for the three and nine months ended September 30, 2023 and 2022.
Lease Income
Three Months Ended
September 30		 Nine Months Ended
September 30
(Dollars in millions) 2023 2022 2023 2022
Sales-type and direct financing leases $ 206  $ 149  $ 559  $ 428 
Operating leases 233  241  705  704 
   Total lease income $ 439  $ 390  $ 1,264  $ 1,132 
Operating Lease, Lease Income
The table below presents lease income for the three and nine months ended September 30, 2023 and 2022.
Lease Income
Three Months Ended
September 30		 Nine Months Ended
September 30
(Dollars in millions) 2023 2022 2023 2022
Sales-type and direct financing leases $ 206  $ 149  $ 559  $ 428 
Operating leases 233  241  705  704 
   Total lease income $ 439  $ 390  $ 1,264  $ 1,132 
Direct Financing Lease, Lease Income
The table below presents lease income for the three and nine months ended September 30, 2023 and 2022.
Lease Income
Three Months Ended
September 30		 Nine Months Ended
September 30
(Dollars in millions) 2023 2022 2023 2022
Sales-type and direct financing leases $ 206  $ 149  $ 559  $ 428 
Operating leases 233  241  705  704 
   Total lease income $ 439  $ 390  $ 1,264  $ 1,132 
Supplemental Information
The table below provides information on the right-of-use assets and lease liabilities at September 30, 2023 and December 31, 2022.
Lessee Arrangements
(Dollars in millions) September 30
2023		 December 31 2022
Right-of-use asset $ 9,187  $ 9,755 
Lease liabilities 9,799  10,359