Bank Premises and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

The following table provides a summary of bank premises and equipment as of December 31:


($ in millions)	Estimated Useful Life			2021		2020
Equipment	2	-	20 years	$	2,392	2,302
Buildings(a)	1	-	30 years	1,668		1,612
Land and improvements(a)				645		636
Leasehold improvements	1	-	30 years	517		467
Construction in progress(a)				84		108
Bank premises and equipment held for sale:
Land and improvements				18		27
Buildings				6		8
Accumulated depreciation and amortization				(3,210)		(3,072)
Total bank premises and equipment				$	2,120	2,088

(a)At December 31, 2021 and 2020, land and improvements, buildings and construction in progress included $39 and $46, respectively, associated with parcels of undeveloped land intended for future branch expansion.

Depreciation and amortization expense related to bank premises and equipment, including amortization of finance lease ROU assets, was $270 million, $256 million and $255 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The Bancorp monitors changing customer preferences associated with the channels it uses for banking transactions to evaluate the efficiency, competitiveness and quality of the customer service experience in its consumer distribution network. As part of this ongoing assessment, the Bancorp may determine that it is no longer fully committed to maintaining full-service banking centers at certain locations. Similarly, the Bancorp may also determine that it is no longer fully committed to building banking centers on certain parcels of land which had previously been held for future branch expansion. The Bancorp closed a total of 44 banking centers throughout its footprint during the year ended December 31, 2021.

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. Impairment losses associated with such assessments and lower of cost or market adjustments were $7 million, $30 million and $28 million for the years ended December 31, 2021, 2020 and 2019, respectively. The recognized impairment losses were recorded in other noninterest income in the Consolidated Statements of Income.