BB&T 2010 Annual Report Download - page 127
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The following table represents the carrying value of BB&T’s loans and leases on nonaccrual status, including
nonperforming restructurings:
December 31, 2010
(Dollars in millions)
Commercial:
Commercial real estate—residential ADC $ 513
Commercial real estate—other 405
Commercial and industrial 508
Specialized lending 11
1,437
Retail:
Direct retail lending 191
Residential mortgage 466
Sales finance 6
Specialized lending 49
712
Total loans and leases held for investment on nonaccrual status $2,149
NOTE 6. Premises and Equipment
A summary of premises and equipment is presented in the accompanying table:
December 31,
2010 2009
(Dollars in millions)
Land and land improvements $ 495 $ 429
Buildings and building improvements 1,180 1,039
Furniture and equipment 1,117 1,043
Leasehold improvements 499 464
Construction in progress 22 17
Capitalized leases on premises and equipment 41 6
Total 3,354 2,998
Less—accumulated depreciation and amortization (1,514) (1,415)
Net premises and equipment $ 1,840 $ 1,583
Useful lives for premises and equipment are as follows: buildings and building improvements—40 years;
furniture and equipment—5 to 10 years; leasehold improvements—estimated useful life or lease term, including
certain renewals which were deemed probable at lease inception, whichever is less; and capitalized leases on
premises and equipment—estimated useful life or remaining term of tenant lease, whichever is less.
BB&T has noncancelable leases covering certain premises and equipment. Many of the leases have one or
more renewal options, generally for periods of two to five years. Total rent expense applicable to operating leases
was $188 million, $210 million and $164 million for 2010, 2009 and 2008, respectively. Rental income from owned
properties and subleases was $8 million, $7 million and $7 million for 2010, 2009 and 2008, respectively. Future
minimum lease payments for operating leases for the five years subsequent to 2010 are $149 million, $135 million,
$124 million, $114 million and $106 million. The payments for 2016 and later years total $604 million.
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