Bank Premises and Equipment

3 Months Ended

Mar. 31, 2015

Bank Premises and Equipment

Bank Premises and Equipment

7. Bank Premises and Equipment

The following table provides a summary of bank premises and equipment as of:
($ in millions)		March 31, 2015	December 31, 2014
Land and improvements	$	814	816
Buildings		1,820	1,810
Equipment		1,706	1,682
Leasehold improvements		418	416
Construction in progress		81	98
Accumulated depreciation and amortization		(2,406)	(2,357)
Total	$	2,433	2,465

At both March 31, 2015 and December 31, 2014, land and improvements included $165 million associated with parcels of undeveloped land intended for future branch expansion. 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 of its retail transaction network. As part of this ongoing assessment the Bancorp may determine that it is no longer fully committed to maintaining full-service branches at certain of its existing banking center 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. In these circumstances, the Bancorp performs an assessment of the recoverability of these long-lived assets. Impairment losses associated with such assessments and lower of cost or market adjustments were $4 million for the three months ended March 31, 2015 and immaterial for the three months ended March 31, 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.