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Premises and Equipment
 12 Months Ended
Dec. 31, 2013
Premises and Equipment  
Premises and Equipment

Note 9. Premises and Equipment

        The following is a summary of the major categories of premises and equipment:

(in thousands)
  Cost   Accumulated
Depreciation
And
Amortization		   Carrying
Value		   Range of
Lives

December 31, 2013

                      

Premises, including land of $15,011

   $ 206,313   $ 114,330   $ 91,983   Up to 39 years

Furniture, fixtures and equipment

     163,969     129,142     34,827   3 to 10 years

Software

     151,772     80,184     71,588   5 to 10 years
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 522,054   $ 323,656   $ 198,398    
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

December 31, 2012

                      

Premises, including land of $3,511

   $ 158,389   $ 105,933   $ 52,456   Up to 39 years

Furniture, fixtures and equipment

     155,311     118,796     36,515   3 to 10 years

Software

     131,075     70,613     60,462   5 years
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 444,775   $ 295,342   $ 149,433    
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

        Depreciation and amortization expense was $32.3 million, $32.5 million and $27.6 million in 2013, 2012 and 2011, respectively. Net rental payments on operating leases included in Net occupancy of premises in the consolidated statements of income were $56.4 million, $52.5 million and $45.4 million in 2013, 2012 and 2011, respectively.

        The future net minimum rental commitments were as follows at December 31, 2013:

(in thousands)
  Net
Minimum
Rental
Commitments		  

2014

   $ 46,570  

2015

     45,590  

2016

     40,988  

2017

     36,949  

2018

     34,655  

Thereafter

     115,396  
       
​ ​ ​ ​ ​

 

   $ 320,148  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       

        The rental commitment amounts in the table above reflect the contractual obligations of the Company under all leases. Lease obligations related to acquisitions have been adjusted to current market values through acquisition accounting adjustments. The mark-to-market thus created is accreted over the terms of the leases and will increase or reduce the total expense recognized by the Company in its operating expenses. At December 31, 2013, the Company is contractually entitled to receive minimum future rentals of $4.9 million under non-cancelable sub-leases with terms through 2038.

        A majority of the leases provide for the payment of taxes, maintenance, insurance, and certain other expenses applicable to the leased premises. Many of the leases contain extension provisions and escalation clauses.