v3.25.1
Other Assets and Liabilites
 3 Months Ended
Mar. 31, 2025
Other Assets [Abstract]  
Other Assets and Liabilities Disclosure Other Assets and Liabilities
Lessee Operating and Finance Leases

The Company leases certain assets, consisting primarily of real estate, and assesses at contract inception whether a contract is, or contains, a lease. The following tables present additional information on leases, excluding leases related to the lease financing businesses:

March 31, 2025December 31, 2024
(Dollars in millions)Operating LeasesFinance LeasesOperating LeasesFinance Leases
ROU assets$992 $16 $1,015 $17 
Lease liabilities1,263 18 1,301 19 
Weighted average remaining term6.7 years7.6 years6.7 years7.8 years
Weighted average discount rate3.6 %5.1 %3.5 %5.1 %
Three Months Ended March 31,
(Dollars in millions)20252024
Operating lease costs$68 $77 

Lessor Operating Leases

The Company’s two primary lessor businesses are equipment financing and structured real estate with income recorded in Operating lease income on the Consolidated Statements of Income. The following table presents a summary of assets under operating leases held for investment. This table excludes subleases on assets included in premises and equipment.

(Dollars in millions)Mar 31, 2025Dec 31, 2024
Assets held under operating leases(1)(2)
$1,953 $1,843 
Accumulated depreciation (541)(539)
Net$1,412 $1,304 
(1)Includes certain land parcels subject to operating leases that have indefinite lives.
(2)Excludes operating leases held-for-sale that totaled $15 million and $18 million at March 31, 2025 and December 31, 2024, respectively.

Bank-Owned Life Insurance

Bank-owned life insurance consists of life insurance policies held on certain teammates for which the Company is the beneficiary. The carrying value of bank-owned life insurance was $7.8 billion at March 31, 2025 and December 31, 2024.