As of December 31, 2025, assets and liabilities recorded under operating leases for properties were $464 million and $539 million, respectively, and $453 million and $527 million, respectively, as of December 31, 2024. 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 $85 million, $86 million, and $85 million for the years ended December 31, 2025, 2024, and 2023 respectively.


	December 31, 2025
	(In millions)
2026	$	91
2027	85
2028	78
2029	67
2030	55
Thereafter	262
Total lease payments	638
Less: Imputed interest	99
Total present value of lease liabilities	$	539