Annual report pursuant to Section 13 and 15(d)

OPERATING LEASES (Tables)

v3.24.0.1
OPERATING LEASES (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Assets And Liabilities, Lessee
Net lease assets and liabilities are as follows:
At December 31,
(dollar amounts in millions) Classification 2023 2022
Assets
Operating lease assets Other assets $ 265  $ 279 
Liabilities
Lease liabilities Other liabilities $ 379  $ 401 
Schedule of Lease Cost
Net lease cost are as follows:
Year Ended December 31,
(dollar amounts in millions) Classification 2023 2022
Operating lease cost Net occupancy $ 68  $ 81 
Short-term lease cost Net occupancy 1  2 
Net lease cost $ 69  $ 83 
Additional supplemental information related to the Company’s operating leases is as follows:
(dollar amounts in millions) 2023 2022
Year ended December 31:
Cash paid for amounts included in the measurement of lease liabilities for operating cash flows $ (77) $ (80)
Right-of-use assets obtained in exchange for lease obligations for operating leases 37  22 
At December 31:
Weighted-average remaining lease term (years) for operating leases 11.30 11.48
Weighted-average discount rate for operating leases 4.93  % 4.64  %
Schedule of Operating Lease Liability Maturities, Lessee
Maturity of lease liabilities at December 31, 2023 are as follows:
(dollar amounts in millions) Total
2024 $ 66 
2025 66 
2026 51 
2027 43 
2028 36 
Thereafter 251 
Total lease payments 513 
Less: Interest (134)
Total lease liabilities $ 379