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Goldman Sachs SEC filing for the quarter ended March 31, 2019, report contains the following lease footnote. Leases (ASC 842). In February 2016, the FASB

Goldman Sachs SEC filing for the quarter ended March 31, 2019, report contains the following lease footnote.

Leases (ASC 842). In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU requires that, for leases longer than one year, a lessee recognize in the statements of financial condition a right-of-use asset and a lease liability. It also requires that for finance leases, a lessee recognize interest expense on the lease liability, separately from the amortization of the right-of-use asset in the statements of earnings, while for operating leases, such amounts should be recognized as a combined expense. The firm adopted this ASU in January 2019 under a modified retrospective approach.

The table below presents other assets by type.

$ in millions Mar. 2019 Dec. 2018
Property, leasehold improvements and equipment $19,277 $18,317
Held-to-maturity securities 5,841 1,288
Goodwill and identifiable intangible assets 4,092 4,082
Operating lease right-of-use assets 2,386 -
Income tax-related assets 1,729 1,529
Miscellaneous receivables and other 4,358 5,424
Total $37,683 $30,640

The table below presents other liabilities by type.

$ in millions Mar. 2019 Dec. 2018
Compensation and benefits $3,110 $6,834
Income tax-related liabilities 3,080 2,864
Operating lease liabilities 2,413 -
Noncontrolling interests 1,565 1,568
Employee interests in consolidated funds 122 122
Accrued expenses and other 5,884 6,219
Total $16,174 $17,607

The table below presents information about future operating lease payments.

$ in millions Mar. 2019
Remainder of 2019 318
2020 341
2021 262
2022 235
2023 204
2024 193
2025-thereafter 2,494
Total undiscounted lease payments 4,047
Imputed interest (1,634)
Total operating lease liabilities $2,413
Weighted average remaining lease term 18 years
Weighted average discount rate 4.85%

Goldman Sachss 10-K report for the year ended December 31, 2018, included the following table about future cash payments required under operating leases.

$ in millions Dec. 2018
2019 $281
2020 271
2021 218
2022 177
2023 142
2024 - thereafter 1,310
Total $2,399

What operating lease liability did Goldman Sachs report for the quarter ended March 31, 2019? $Answer

million

What right-of-use assets did Goldman Sachs report for the quarter ended March 31, 2019? $Answer

million

Use an Excel spreadsheet and the information on future operating lease payments to verify the total liabilities of $2,413 million on the 2019 Form 10-Q. Hint: The amount will not be exactly $2,413. Enter the amount computed in Excel. Round your final answer to the nearest million. $Answer

million

Use the information on rental payments from the December 2018 Form 10-K, to calculate the present value of future payments at year-end. Use the same average weighted lease term and discount rate Goldman Sachs discloses in the 2019 Form 10-Q. Enter the amount computed in Excel. Round your final answer to the nearest million. $Answer

million

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