Premises, Equipment and Leasehold Improvements

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Premises, Equipment and Leasehold Improvement

Note 9 Premises, Equipment and Leasehold Improvements

Premises, equipment and leasehold improvements, stated at cost less accumulated depreciation and amortization, were as follows:

Table 101: Premises, Equipment and Leasehold Improvements

			December 31		December 31
In millions			2014		2013
Total Premises, equipment and leasehold improvements (a)		$	9,416	$	8,903
Accumulated depreciation and amortization			(3,773)		(3,285)
	Net book value	$	5,643	$	5,618
(a) Primarily relates to equipment and buildings.

Depreciation expense on premises, equipment and leasehold improvements and amortization expense, excluding intangible assets and primarily for capitalized internally developed software, was as follows:

Table 102: Depreciation and Amortization Expense

Year ended December 31
In millions			2014		2013		2012
Continuing operations:
	Depreciation	$	618	$	546	$	521
	Amortization		30		23		19

We lease certain facilities and equipment under agreements expiring at various dates through the year 2081. We account for these as operating leases. Rental expense on such leases was as follows:

Table 103: Lease Rental Expense

Year ended December 31
In millions	2014		2013		2012
Continuing operations:	$	414	$	412	$	405

Required minimum annual rentals that we owe on noncancelable leases having initial or remaining terms inexcess of one year totaled $2.7billion at December 31, 2014. Future minimum annual rentals are as follows:

• 2015: $376million,

•2016: $329million,

• 2017: $293 million,

•2018: $261 million,

• 2019: $217million, and

•2020 and thereafter: $1.2billion.