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

($ in millions)		March 31, 2016	December 31, 2015
Land and improvements^(a)	$	682	685
Buildings		1,695	1,755
Equipment		1,715	1,696
Leasehold improvements		403	403
Construction in progress		86	85
Bank premises and equipment held for sale:
Land and improvements		41	55
Buildings		23	20
Equipment		2	3
Leasehold improvements		2	3
Accumulated depreciation and amortization		(2,464)	(2,466)
Total bank premises and equipment	$	2,185	2,239

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 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. On June 16, 2015, the Bancorp's Board of Directors authorized management to pursue a plan to further develop its distribution strategy, including a plan to consolidate and/or sell certain operating branch locations and certain parcels of undeveloped land that had been acquired by the Bancorp for future branch expansion (the “Branch Consolidation and Sales Plan”).

On September 3, 2015, the Bancorp announced the decision to enter into an agreement to sell branch banking locations, retail accounts, certain private banking deposits and related loan relationships in the Pittsburgh MSA to First National Bank of Pennsylvania. On September 30, 2015, the Bancorp announced the decision to enter into an agreement to sell its retail operations, including retail accounts, certain private banking deposits and related loan relationships in the St. Louis MSA to Great Southern Bank. Both transactions are part of the Branch Consolidation and Sales Plan.

On January 29, 2016, the Bancorp closed the previously announced sale in the St. Louis MSA to Great Southern Bank. The sale included loans, premises and equipment and deposits with aggregate carrying amounts of $158 million, $18 million and $228 million, respectively. The Bancorp recorded a gain on the sale of $8 million which was recorded in other noninterest income in the Condensed Consolidated Statements of Income.

Pursuant to the Branch Consolidation and Sales Plan, the Bancorp intended to consolidate and/or sell 60 operating branch locations and to sell an additional 23 parcels of undeveloped land that had been acquired by the Bancorp for future branch expansion as of March 31, 2016.

The sale of the Pittsburgh MSA retail operations to First National Bank of Pennsylvania closed on April 22, 2016. For further information on this transaction, refer to Note 22.

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 $2 million and $4 million for the three months ended March 31, 2016 and 2015, respectively. The recognized impairment losses were recorded in other noninterest income in the Condensed Consolidated Statements of Income.


The following table summarizes the assets and liabilities classified as held for sale as a result of the Branch Consolidation and Sales Plan as of:


($ in millions)				March 31, 2016^(d)
Assets:
	Loans held for sale:
		Commercial and industrial loans	$	8
		Commercial mortgage loans		5
		Residential mortgage loans		68
		Home equity		19
		Automobile loans		1
Total loans held for sale^(a)			$	101
	Bank premises and equipment held for sale (included in the preceding table):
		Land and improvements^(b)		28
		Buildings^(b)		10
		Equipment^(b)		2
		Leasehold improvements^(b)		2
Total bank premises and equipment held for sale (included in the preceding table)			$	42
Total assets held for sale			$	143
Liabilities:
	Deposits held for sale:
		Noninterest-bearing deposits	$	51
		Interest-bearing deposits		280
Total deposits held for sale^(c)			$	331
Total liabilities held for sale			$	331