Note 7: Premises, Equipment, Lease Commitments and Other Assets

Table 7.1: Premises and Equipment



(in millions)	Dec 31, 2018		Dec 31, 2017
Land	$	1,757	1,799
Buildings	8,974		8,865
Furniture and equipment	6,896		7,089
Leasehold improvements	2,387		2,291
Premises and equipment leased under capital leases	75		103
Total premises and equipment	20,089		20,147
Less: Accumulated depreciation and amortization	11,169		11,300
Net book value, premises and equipment	$	8,920	8,847

Depreciation and amortization expense for premises and equipment was $1.3 billion, $1.2 billion and $1.2 billion in 2018, 2017 and 2016, respectively.

Dispositions of premises and equipment resulted in net gains of $32 million, $128 million and $44 million in 2018, 2017 and 2016, respectively, included in other noninterest expense.

We have obligations under a number of noncancelable operating leases for premises and equipment. The leases predominantly expire over the next fifteen years, with the longest expiring in 2105, and many provide for periodic adjustment of rentals based on changes in various economic indicators. Some leases also include a renewal option. Table 7.2 provides the future minimum payments of noncancelable operating leases, net of sublease income, with terms greater than one year as of December 31, 2018.

Table 7.2: Minimum Lease Payments of Operating Leases



(in millions)
Year ended December 31,
2019	$	1,174
2020	1,056
2021	880
2022	713
2023	577
Thereafter	1,654
Total	$	6,054

Total minimum lease payments for operating leases above are net of $427 million of noncancelable sublease income. Operating lease rental expense (predominantly for premises) was $1.3 billion for the years 2018, 2017 and 2016, net of sublease income of $73 million, $76 million and $86 million for the same years, respectively.

Table 7.3 presents the components of other assets.

Table 7.3: Other Assets



(in millions)	Dec 31, 2018		Dec 31, 2017
Corporate/bank-owned life insurance	$	19,751	19,549
Accounts receivable (1)	34,281		39,127
Interest receivable	6,084		5,688
Core deposit intangibles	—		769
Customer relationship and other amortized intangibles	545		841
Foreclosed assets:
Residential real estate:
Government insured/guaranteed (1)	88		120
Non-government insured/guaranteed	229		252
Non-residential real estate	134		270
Operating lease assets	9,036		9,666
Due from customers on acceptances	258		177
Other	9,444		13,785
Total other assets	$	79,850	90,244

(1)

Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. Both principal and interest related to these foreclosed real estate assets are collectible because the loans were predominantly insured by the FHA or guaranteed by the VA. For more information on the classification of certain government-guaranteed mortgage loans upon foreclosure, see Note 1 (Summary of Significant Accounting Policies).