Annual report pursuant to Section 13 and 15(d)

OPERATING LEASES (Tables)

v3.22.0.1
OPERATING LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Assets And Liabilities, Lessee
Net lease assets and liabilities at December 31, 2021 and 2020 are as follows:
At December 31,
(dollar amounts in millions) Classification 2021 2020
Assets
Operating lease assets Other assets $ 316  $ 199 
Liabilities
Lease liabilities Other liabilities $ 441  $ 220 
Schedule of Lease Cost
Net lease cost for the years ended December 31, 2021 and 2020 are as follows:
Year Ended December 31,
(dollar amounts in millions) Classification 2021 2020
Operating lease cost Net occupancy $ 104  $ 50 
Short-term lease cost Net occupancy 3  1 
Sublease income Net occupancy (2) (2)
Net lease cost $ 105  $ 49 
Additional supplemental information related to the Company’s operating leases as of December 31, 2021 and 2020 are as follows:
Year Ended December 31,
(dollar amounts in millions) 2021 2020
Cash paid for amounts included in the measurement of lease liabilities for operating cash flows $ (50) $ (53)
Right-of-use assets obtained in exchange for lease obligations for operating leases 174  23 
Weighted-average remaining lease term (years) for operating leases 11.24 7.17
Weighted-average discount rate for operating leases 3.87  % 4.26  %
Schedule of Operating Lease Liability Maturities, Lessee
Maturity of lease liabilities at December 31, 2021 are as follows:
(dollar amounts in millions) Total
2022 $ 64 
2023 63 
2024 52 
2025 43 
2026 36 
Thereafter 263 
Total lease payments $ 521 
Less: Interest (80)
Total lease liabilities $ 441