Leases (Tables)

6 Months Ended

Jun. 30, 2019

The following table presents components of lease cost included in general and administration expense on the condensed consolidated statement of income:

(in millions)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Lease cost:
Operating lease cost⁽¹⁾	$	34	$	68
Variable lease cost⁽²⁾		10		18
Total lease cost	$	44	$	86

⁽¹⁾	^{Amount includes short-term leases, which are immaterial for the three and six months ended June 30, 2019.}

⁽²⁾	^{Amount includes lease payments, which may be adjusted based on usage, changes in an index or market rate.}

Schedule of Financial Condition Information Related to Operating Leases

(in millions)	Statement of Financial Condition Classification	June 30, 2019
Statement of Financial Condition information:
Operating lease ROU assets	Other assets	$	646
Operating lease liabilities	Other liabilities	$	754

Schedule of Supplemental Information Related to Operating Lease

Supplemental information related to operating lease is summarized below:

(in millions)	Six Months Ended June 30, 2019
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	70

Supplemental noncash information:
ROU assets in exchange for operating lease liabilities in connection with the adoption of ASU 2016-02	$	661
ROU assets in exchange for operating lease liabilities	$	44


	Six Months Ended June 30, 2019
Lease term and discount rate:
Weighted-average remaining lease term		9	years
Weighted-average discount rate		3	%

Schedule of Maturity of Operating Lease Liabilities

(in millions)
Maturity of operating lease liabilities at June 30, 2019	Amount⁽¹⁾
Remainder of 2019	$	72
2020		143
2021		135
2022		123
2023		73
Thereafter		312
Total lease payments	$	858
Less: imputed interest		104
Present value of lease liabilities	$	754

⁽¹⁾	^{Amount excludes $1.3 billion of legally binding minimum lease payments for leases signed but not yet commenced. See Note 14, Commitments and Contingencies, for more information.}