v3.22.0.1
Leases (Notes)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lessee, Operating Leases [Text Block]
LESSEE
As of December 31, 2021, assets and liabilities recorded under operating leases for properties were $459 million and $529 million, respectively, and $475 million and $545 million, respectively, as of December 31, 2020. The difference between the asset and liability balance is largely driven by increases in rent over the lease term and any strategic decisions to exit a lease location early, resulting in derecognition of the asset. The asset is recorded within other assets, and the lease liability is recorded within other liabilities on the consolidated balance sheets. Lease expense, which is operating lease costs recorded within net occupancy expense, was $87 million and $85 million for the years ended December 31, 2021 and 2020, respectively.
Other information related to operating leases at December 31 is as follows:
 20212020
Weighted-average remaining lease term (years)9.9 years9.6 years
Weighted-average discount rate (%)2.5 %2.7 %
Future, undiscounted minimum lease payments on operating leases are as follows:
 December 31, 2021
 (In millions)
2022$97 
202391 
202478 
202566 
202651 
Thereafter246 
Total lease payments629 
Less: Imputed interest100 
Total present value of lease liabilities$529 
LESSOR
The following tables present a summary of Regions' sales-type, direct financing, operating, and leveraged leases for the years ended December 31:
Net Interest Income
 20212020
(In millions)
Sales-Type and Direct Financing$58 $59 
Operating1 8 
Leveraged(1)
14 14 
$73 $81 
_________
(1)Leveraged lease income is shown pre-tax with related tax expense of $8 million for both December 31, 2021 and December 31, 2020. Leveraged lease termination gains excluded from amounts presented above were immaterial at both December 31, 2021 and 2020.

 As of December 31, 2021
Sales-Type and Direct FinancingOperatingLeveragedTotal
(In millions)
Lease receivable$1,199 $32 $159 $1,390 
Unearned income(183)(15)(76)(274)
Guaranteed residual49 — — 49 
Unguaranteed residual147 66 137 350 
Total net investment$1,212 $83 $220 $1,515 

As of December 31, 2020
Sales-Type and Direct FinancingOperatingLeveragedTotal
(In millions)
Lease receivable$1,293 $60 $174 $1,527 
Unearned income(232)(15)(96)(343)
Guaranteed residual36 — — 36 
Unguaranteed residual183 155 144 482 
Total net investment$1,280 $200 $222 $1,702 
The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
 December 31, 2021
Sales-Type and Direct FinancingOperatingTotal
(In millions)
2022$283 $12 $295 
2023223 6 229 
2024162 5 167 
2025100 3 103 
202671 2 73 
Thereafter360 4 364 
$1,199 $32 $1,231 
Lessor, Operating Leases [Text Block]
LESSEE
As of December 31, 2021, assets and liabilities recorded under operating leases for properties were $459 million and $529 million, respectively, and $475 million and $545 million, respectively, as of December 31, 2020. The difference between the asset and liability balance is largely driven by increases in rent over the lease term and any strategic decisions to exit a lease location early, resulting in derecognition of the asset. The asset is recorded within other assets, and the lease liability is recorded within other liabilities on the consolidated balance sheets. Lease expense, which is operating lease costs recorded within net occupancy expense, was $87 million and $85 million for the years ended December 31, 2021 and 2020, respectively.
Other information related to operating leases at December 31 is as follows:
 20212020
Weighted-average remaining lease term (years)9.9 years9.6 years
Weighted-average discount rate (%)2.5 %2.7 %
Future, undiscounted minimum lease payments on operating leases are as follows:
 December 31, 2021
 (In millions)
2022$97 
202391 
202478 
202566 
202651 
Thereafter246 
Total lease payments629 
Less: Imputed interest100 
Total present value of lease liabilities$529 
LESSOR
The following tables present a summary of Regions' sales-type, direct financing, operating, and leveraged leases for the years ended December 31:
Net Interest Income
 20212020
(In millions)
Sales-Type and Direct Financing$58 $59 
Operating1 8 
Leveraged(1)
14 14 
$73 $81 
_________
(1)Leveraged lease income is shown pre-tax with related tax expense of $8 million for both December 31, 2021 and December 31, 2020. Leveraged lease termination gains excluded from amounts presented above were immaterial at both December 31, 2021 and 2020.

 As of December 31, 2021
Sales-Type and Direct FinancingOperatingLeveragedTotal
(In millions)
Lease receivable$1,199 $32 $159 $1,390 
Unearned income(183)(15)(76)(274)
Guaranteed residual49 — — 49 
Unguaranteed residual147 66 137 350 
Total net investment$1,212 $83 $220 $1,515 

As of December 31, 2020
Sales-Type and Direct FinancingOperatingLeveragedTotal
(In millions)
Lease receivable$1,293 $60 $174 $1,527 
Unearned income(232)(15)(96)(343)
Guaranteed residual36 — — 36 
Unguaranteed residual183 155 144 482 
Total net investment$1,280 $200 $222 $1,702 
The following table presents the minimum future payments due from customers for sales-type, direct financing, and operating leases:
 December 31, 2021
Sales-Type and Direct FinancingOperatingTotal
(In millions)
2022$283 $12 $295 
2023223 6 229 
2024162 5 167 
2025100 3 103 
202671 2 73 
Thereafter360 4 364 
$1,199 $32 $1,231