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Bank Premises and Equipment

6 Months Ended

Jun. 30, 2014

7. Bank Premises and Equipment

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

($ in millions)		June 30, 2014	December 31, 2013
Land and improvements	$	826	838
Buildings		1,779	1,763
Equipment		1,647	1,581
Leasehold improvements		406	397
Construction in progress		98	118
Accumulated depreciation and amortization		(2,265)	(2,166)
Total	$	2,491	2,531

At June 30, 2014, land and improvements include $169 million associated with parcels of undeveloped land intended for future branch expansion. The Bancorp monitors changing customer preferences associated with the channels they use for banking transactions to evaluate the efficiency, competitiveness and quality of the customer service experience of its retail transaction network. As part of this ongoing assessment, during the second quarter of 2014, the Bancorp determined that it is no longer fully committed to maintaining full-service branches at six of its existing banking center locations. Similarly, the Bancorp also determined that it is no longer fully committed to building banking centers on certain parcels of land which had been held for future branch expansion. In light of these developments, the Bancorp determined that an assessment of the recoverability of these long-lived assets was warranted. For the branches and parcels of land where the sum of the expected undiscounted future cash flows attributable to the asset group was less than the related carrying amount, an aggregate impairment loss of $17 million was recognized during the three months ended June 30, 2014. The Bancorp's assessment of the recoverability of these asset groups requires the exercise of judgment in projecting the extent and nature of their future use and the related cash flows which may be impacted by unanticipated events or circumstances. Refer to the Risk Factors section in Part II, Item 1A for further information regarding the risks associated with changes in the Bancorp's retail distribution strategy.

- 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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