Premises and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

A summary of premises and equipment by major category follows:



(in millions)
December 31	2014			2013
Land	$	88		$	90
Buildings and improvements	808			830
Furniture and equipment	508			515
Total cost	1,404			1,435
Less: Accumulated depreciation and amortization	(872		)	(841		)
Net book value	$	532		$	594

The Corporation conducts a portion of its business from leased facilities and leases certain equipment. Rental expense for leased properties and equipment amounted to $89 million, $78 million and $81 million in 2014, 2013 and 2012, respectively. Rental expense in 2014 included approximately $10 million of lease termination charges. As of December 31, 2014, future minimum rental payments under operating leases were as follows:



(in millions)
Years Ending December 31
2015	$	73
2016	67
2017	58
2018	51
2019	42
Thereafter	182
Total	$	473

- 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.

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