Premises and Equipment Property Plant And Equipment (Notes)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 8 - PREMISES AND EQUIPMENT

Premises and equipment at December 31 consisted of the following:

(Dollars in millions)	Useful Life (in years)	2014		2013
Land	Indefinite		$334		$345
Buildings and improvements	2 - 40	1,051		1,045
Leasehold improvements	1 - 30	628		609
Furniture and equipment	1 - 20	1,426		1,399
Construction in progress		201		206
Total premises and equipment		3,640		3,604
Less: Accumulated depreciation and amortization		2,132		2,039
Premises and equipment, net			$1,508		$1,565

The Company previously completed sale leaseback transactions consisting of branch properties and various individual office buildings. Upon completion of these transactions, the Company recognized a portion of the resulting gains and deferred the remainder to be recognized ratably over the expected term of the lease, predominantly 10 years, as an offset to net occupancy expense. To the extent that terms on these leases are extended, the remaining deferred gain would be amortized over the new lease term. Amortization of deferred gains on sale leaseback transactions was $53 million, $58 million, and $67 million for the years ended December 31, 2014, 2013, and 2012, respectively. At December 31, 2014 and 2013, the remaining deferred gain associated with sale leaseback transactions was $162 million and $215 million, respectively.

The carrying amounts of premises and equipment subject to mortgage indebtedness (included in long-term debt) were immaterial at December 31, 2014 and 2013. Net premises and equipment included $4 million and $5 million related to capital leases at December 31, 2014 and 2013, respectively. Aggregate rent expense (principally for offices), including contingent rent expense and sublease income, totaled $206 million, $220 million, and $228 million for the years ended December 31, 2014, 2013, and 2012, respectively. Depreciation and amortization expense for the years ended December 31, 2014, 2013, and 2012 totaled $176 million, $185 million, and $188 million, respectively.

Various Company facilities are leased under capital leases and noncancelable operating leases with initial remaining terms in excess of one year. The following table presents future minimum lease payments at December 31, 2014.

(Dollars in millions)	Operating Leases		Capital Leases
2015		$205		$2
2016	201		2
2017	183		2
2018	107		2
2019	87		3
Thereafter	328		—
Total minimum lease payments		$1,111	11
Less: Amounts representing interest			2
Present value of net minimum lease payments				$9