Premises and Equipment

12 Months Ended

Dec. 31, 2020

Premises and Equipments [Abstract]

Premises and Equipment

PREMISES AND EQUIPMENT

A summary of premises and equipment by major category follows:

(in millions)
December 31	2020		2019
Land	$	86	$	86
Buildings and improvements	847		818
Furniture and equipment	485		513
Total cost	1,418		1,417
Less: Accumulated depreciation and amortization	(959)		(960)
Net book value	$	459	$	457

The Corporation conducts a portion of its business from leased facilities and leases certain equipment. Rental expense for leased properties and equipment amounted to $79 million, $81 million and $75 million in 2020, 2019 and 2018, respectively. Refer to Note 26 for more information on leased facilities and equipment.