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Premises and Equipment

12 Months Ended

Dec. 31, 2011

NOTE 5. Premises and Equipment

A summary of premises and equipment is presented in the accompanying table:

		December 31,
		2011		2010

		(Dollars in millions)
Land and land improvements		$	508	$	495
Buildings and building improvements			1,220		1,180
Furniture and equipment			1,132		1,117
Leasehold improvements			521		499
Construction in progress			37		22
Capitalized leases on premises and equipment			52		41
	Total		3,470		3,354
Less - accumulated depreciation and amortization			(1,615)		(1,514)
	Net premises and equipment	$	1,855	$	1,840

Useful lives for premises and equipment are as follows: buildings and building improvements—40 years; furniture and equipment—5 to 10 years; leasehold improvements—estimated useful life or lease term, including certain renewals which were deemed probable at lease inception, whichever is less; and capitalized leases on premises and equipment—estimated useful life or remaining term of tenant lease, whichever is less.

BB&T has noncancelable leases covering certain premises and equipment. Total rent expense applicable to operating leases was $199 million, $188 million and $210 million for 2011, 2010 and 2009, respectively. Rental income from owned properties and subleases was $7 million, $8 million and $7 million for 2011, 2010 and 2009, respectively. Future minimum lease payments for operating leases for the five years subsequent to 2011 are $184 million, $170 million, $158 million, $139 million and $123 million. The payments for 2017 and later years total $644 million.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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