Premises and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

A summary of premises and equipment by major category follows:



(in millions)
December 31	2013			2012
Land	$	90		$	90
Buildings and improvements	830			816
Furniture and equipment	515			509
Total cost	1,435			1,415
Less: Accumulated depreciation and amortization	(841		)	(793		)
Net book value	$	594		$	622

The Corporation conducts a portion of its business from leased facilities and leases certain equipment. Rental expense for leased properties and equipment amounted to $78 million, $81 million and $83 million in 2013, 2012 and 2011, respectively. As of December 31, 2013, future minimum rental payments under operating leases were as follows:



(in millions)
Years Ending December 31
2014	$	73
2015	69
2016	60
2017	52
2018	44
Thereafter	212
Total	$	510

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details