STI 2018 Annual Report

67 “Guarantees,” to the Consolidated Financial Statements in this Form 10-K. Contractual Obligations In the normal course of business, we enter into certain contractual obligations, including obligations to make future payments on our borrowings, tax credit investments, and lease arrangements, as well as commitments to lend to clients and to fund capital expenditures and service contracts. Table 27 presents our significant contractual obligations at December 31, 2018, except for UTBs (discussed below), short-term borrowings (presented in the “Borrowings” section of this MD&A), and pension and other postretirement benefit plans (disclosed in Note 17, “Employee Benefit Plans,” to the Consolidated Financial Statements in this Form 10-K). For additional information regarding our unfunded lending commitments, time deposits, operating leases, tax credit investments, and long-termdebt, refer to the “Liquidity Risk Management” and “Deposits” sections of this MD&A, as well as Note 9, “Premises, Property, and Equipment,” Note 12, “Certain Transfers of FinancialAssets and Variable Interest Entities,” and Note 13, “Borrowings and Contractual Commitments,” to the Consolidated Financial Statements in this Form 10-K. AtDecember 31, 2018, we hadUTBs of $145million, which represent a reserve for tax positions that we have taken or expect to be taken in our tax returns, and which ultimately may not be sustained upon examination by taxing authorities. Since the ultimate amount and timing of any future tax settlements are uncertain, UTBs have been excluded from Table 27. See additional discussion in Note 16, “Income Taxes,” to the Consolidated Financial Statements in this Form 10-K. Contractual Obligations Table 27 Payments Due by Period at December 31, 2018 (Dollars in millions) Less than 1 year 1-3 years 3-5 years More than 5 years Total Unfunded lending commitments $26,122 $20,165 $37,099 $12,538 $95,924 Consumer and other time deposits 1 7,781 4,020 1,281 2,273 15,355 Brokered time deposits 1 168 479 346 52 1,045 Long-term debt 1, 2 1,818 4,187 3,891 5,200 15,096 Operating leases 204 381 319 585 1,489 Purchase obligations 3 249 297 122 244 912 Commitments to fund tax credit investments 4 702 — — — 702 Total $37,044 $29,529 $43,058 $20,892 $130,523 1 Amounts do not include interest. 2 Amounts do not include deduction of related debt issuance costs of $24 million. 3 For legally binding purchase obligations of $5 million or more, amounts include either termination fees under the associated contracts when early termination provisions exist, or the total potential obligation over the full contractual term for noncancelable purchase obligations. Payments made towards the purchase of goods or services under these contracts totaled $499 million in 2018. 4 Commitments to fund investments in affordable housing and other partnerships do not have defined funding dates as certain criteria must be met before we are obligated to fund. Accordingly, these commitments are considered to be due on demand for presentation purposes. See Note 12, "Certain Transfers of Financial Assets and Variable Interest Entities," to the Consolidated Financial Statements in this Form 10-K for additional information.