PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

NOTE 7 — PREMISES AND EQUIPMENT

Major classifications of premises and equipment at December 31, 2024 and 2023 are summarized as follows:

dollars in millions	Useful Life (years)	December 31, 2024		December 31, 2023
Land	indefinite	$	407	$	403
Premises and leasehold improvements	3 - 30	1,598		1,609
Furniture, equipment and software	2 - 15	1,629		1,260
Total		3,634		3,272
Less accumulated depreciation and amortization		1,628		1,395
Premises and equipment, net		$	2,006	$	1,877

Depreciation and amortization expense is included in equipment expense and net occupancy expense in the Consolidated Statements of Income and was $276 million, $225 million, and $142 million for the years ended December 31, 2024, 2023 and 2022, respectively.

For the year ended December 31, 2024, there were $22 million of impairment charges primarily on software and related projects, of which $9 million was included in acquisition-related expenses, with the remaining included in other noninterest expense. For the year ended December 31, 2023, there were $35 million of impairment charges primarily on software, of which $32 million was included in acquisition-related expenses, with the remaining amount included in other non-interest expense.