Premises, Equipment and Leasehold Improvements

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Premises, Equipment and Leasehold Improvement

Note 9Premises, Equipment and Leasehold Improvements

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

Table 92: Premises, Equipment and Leasehold Improvements

		December 31		December 31
In millions		2015		2014
Total Premises, equipment and leasehold improvements (a)		$	10,257	$	9,416
Accumulated depreciation and amortization			(4,349)		(3,773)
	Net book value	$	5,908	$	5,643
(a) Primarily relates to equipment and buildings.

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

Table 93: Depreciation and Amortization Expense

Year ended December 31
In millions			2015		2014		2013
Depreciation		$	643	$	618	$	546
Amortization			40		30		23
	Total depreciation and amortization		683		648		569

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 94: Lease Rental Expense

Year ended December 31
In millions	2015		2014		2013
Lease rental expense:	$	460	$	414	$	412

Required minimum annual rentals that we owe on noncancelable leases having initial or remaining terms in excess of one year totaled $2.7 billion at December 31, 2015. Future minimum annual rentals are as follows:

• 2016: $378 million,

•2017: $350 million,

• 2018: $315 million,

•2019: $264 million,

• 2020: $222 million, and

•2021 and thereafter: $1.2 billion.