Premises and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Premises and Equipment

Note 5 - Premises and Equipment

Premises and equipment at December 31, 2018 and 2017 consist of the following:

(in thousands)	2018			2017
Land	$	96,310		$	96,759
Buildings and improvements	392,952			388,254
Leasehold improvements	39,832			38,970
Furniture and equipment	435,223			413,876
Construction in progress	16,608			15,956
Total premises and equipment	980,925			953,815
Less: Accumulated depreciation and amortization	(546,618		)	(527,002		)
Premises and equipment, net	$	434,307		$	426,813

Net premises and equipment included $1.45 million and $1.55 million related to net capital leases at December 31, 2018 and 2017, respectively. Aggregate rent expense (principally for offices) net of sublease income, totaled $25.4 million, $22.0 million, and $21.4 million for the years ended December 31, 2018, 2017, and 2016, respectively. Depreciation and amortization expense for the years ended December 31, 2018, 2017, and 2016 totaled $42.6 million, $42.2 million, and $37.1 million, respectively.

During the years ended December 31, 2018 and 2017, Synovus transferred premises and equipment with a net book value of $911 thousand and $3.3 million, respectively, to other properties held for sale, a component of other assets.

Lease Commitments

Synovus and its subsidiaries have entered into long-term operating leases for various facilities and equipment. Management expects that as these leases expire they will be renewed or replaced by similar leases based on need.

At December 31, 2018, minimum rental commitments under all such non-cancelable leases for the next five years and thereafter are presented below.

(in thousands)
2019	$	27,539
2020	27,474
2021	27,498
2022	28,097
2023	25,096
Thereafter	83,316
Total	$	219,020