Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 258

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 258
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19 $1,387 $12 Weighted average remaining term6.7 years7.8 years6.2 years6.6 yearsWeighted average discount rate3.5 %5.1 %3.1 %5.1 %Year Ended December 31,(Dollars in millions)202420232022Operating lease costs$280 $285 $295 Lessor Operating LeasesThe Company’s two primary lessor businesses are equipment financing and structured real estate with income recorded in Operating lease income on the Consolidated Statements of Income. The following table presents a summary of assets under operating leases held for investment. This table excludes subleases on assets included in premises and equipment.(Dollars in millions)Dec 31, 2024Dec 31, 2023Assets held under operating leases(1)(2)$1,843 $2,160 Accumulated depreciation (539)(583)Net$1,304 $1,577 (1)Includes certain land parcels subject to operating leases that have indefinite lives.(2)Excludes operating leases held-for-sale that totaled $18 million and $32 million at December 31, 2024 and December 31, 2023, respectively.Bank-Owned Life InsuranceBank-owned life insurance consists of life insurance policies held on certain teammates for which the Company is the beneficiary. The carrying value of bank-owned life insurance was $7.8 billion and $7.7 billion at December 31, 2024 and December 31, 2023, respectively.

130   Truist Financial Corporation

NOTE 10. Deposits

The composition of deposits is presented in the following table:(Dollars in millions)Dec 31, 2024Dec 31, 2023Noninterest-bearing deposits$107,451 $111,624 Interest-bearing deposits:Interest checking109,042 104,757 Money market and savings137,307 135,923 Time deposits36,724 43,561 Total deposits$390,524 $395,865 Time deposits greater than $250,000$10,041 $10,422 The following table presents time deposit maturities:(Dollars in millions)20252026202720282029ThereafterFuture time deposit maturities$35,442 $616 $398 $91 $175 $2 

NOTE 11. Borrow