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Bank Premises and Equipment

12 Months Ended

Dec. 31, 2011

8. BANK PREMISES AND EQUIPMENT

The following is a summary of bank premises and equipment at December 31:

($ in millions)	Estimated Useful Life		2011	2010
Land and improvements		$	834	797
Buildings	5 to 50 yrs.		1,623	1,593
Equipment	3 to 20 yrs.		1,318	1,296
Leasehold improvements	3 to 40 yrs.		394	393
Construction in progress			140	92
Accumulated depreciation and amortization			(1,862)	(1,782)
Total		$	2,447	2,389

Depreciation and amortization expense related to bank premises and equipment was $224 million in 2011, $225 million in 2010 and $227 million in 2009.

Gross occupancy expense for cancelable and noncancelable leases was $99 million in 2011, $98 million in 2010 and $102 million in 2009, which was reduced by rental income from leased premises of $19 million in 2011 and 2010 and $16 million in 2009.

The Bancorp's subsidiaries have entered into a number of noncancelable and capital lease agreements with respect to bank premises and equipment. The following table provides the annual future minimum payments under capital leases and noncancelable operating leases at December 31, 2011:

($ in millions)		Operating Leases	Capital Leases
Year ended December 31,
2012	$	92	12
2013		87	5
2014		82	4
2015		78	3
2016		71	1
Thereafter		441	1
Total minimum lease payments	$	851	26
Less: Amounts representing interest		-	3
Present value of net minimum lease payments		-	23

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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