Premises and Equipment

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Premises and Equipment

Note 8 - Premises and Equipment

Premises and equipment at December 31, 2016 and 2015 consists of the following:

(in thousands)	Useful Life (in years)	2016			2015
Land	Indefinite	$	97,080		106,656
Buildings and improvements	10 - 40	377,754			403,437
Leasehold improvements	10 - 40	41,355			41,095
Furniture and equipment	3 - 10	370,458			406,121
Construction in progress		29,104			44,120
Total premises and equipment		915,751			1,001,429
Less: Accumulated depreciation and amortization		(498,266		)	(556,274	)
Premises and equipment, net		$	417,485		445,155

Net premises and equipment included $1.6 million and $1.7 million related to net capital leases at December 31, 2016 and 2015, respectively. Aggregate rent expense (principally for offices) net of sublease income, totaled $21.4 million, $23.1 million, and $22.8 million for the years ended December 31, 2016, 2015, and 2014, respectively. Depreciation and amortization expense for the years ended December 31, 2016, 2015, and 2014 totaled $37.1 million, $35.3 million, and $33.9 million, respectively.

During the year ended December 31, 2016, Synovus transferred premises and equipment with a net book value of $25.2 million to other properties held for sale, a component of other assets. Additionally, during 2016, Synovus retired $68.4 million of zero net book value obsolete assets from the furniture and equipment category.

Lease Commitments

Synovus and its subsidiaries have entered into long-term operating leases for various facilities and equipment. Management expects that as these leases expire they will be renewed or replaced by similar leases based on need.

At December 31, 2016, minimum rental commitments under all such non-cancelable leases for the next five years and thereafter are presented below.

(in thousands)
2017	$	27,527
2018	28,289
2019	25,484
2020	24,579
2021	22,247
Thereafter	154,219
Total	$	282,345