BB&T 2015 Annual Report Download - page 123

TableofContents
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A summary of premises and equipment is presented in the accompanying table:
 
  
 
Land and land improvements $ 596 $ 533
Buildings and building improvements 40 1,503 1,431
Furniture and equipment 5 - 10 1,030 986
Leasehold improvements 721 670
Construction in progress 122 47
Capitalized leases on premises and equipment 67 61
Total 4,039 3,728
Accumulated depreciation and amortization (2,032) (1,901)
Net premises and equipment $ 2,007 $ 1,827
The following table excludes assets related to BB&T's lease financing business.

  

Rent expense applicable to operating leases $ 245 $ 227 $ 230
Rental income from owned properties and subleases 7 7 8

     

Future minimum lease payments for operating leases $ 250 $ 229 $ 200 $ 175 $ 147 $ 591

The changes in the carrying amounts of goodwill attributable to BB&T’s operating segments are reflected in the table below. There have been no goodwill
impairments recorded to date.







 
 
 
 

Goodwill, January 1, 2013 $ 4,900 $ 7 $ 111 $ 99 $ 1,495 $ 192 $ 6,804
Contingent consideration ― ― ― ― 6 ― 6
Other adjustments 24 ― ― (11) (9) ― 4
Goodwill, December 31, 2013 $ 4,924 $ 7 $ 111 $ 88 $ 1,492 $ 192 $ 6,814
Acquired goodwill, net 29 ― ― ― 12 ― 41
Contingent consideration ― ― ― ― 14 ― 14
Other adjustments (319) 319 ― ― ― ― ―
Goodwill, December 31, 2014 $ 4,634 $ 326 $ 111 $ 88 $ 1,518 $ 192 $ 6,869
Acquired goodwill, net 1,548 ― ― 155 16 7 1,726
American Coastal sale ― ― ― ― (49) ― (49)
Other adjustments 5 ― ― ― (3) ― 2
Goodwill, December 31, 2015 $ 6,187 $ 326 $ 111 $ 243 $ 1,482 $ 199 $ 8,548
The 2013 adjustments to goodwill within Community Banking and Insurance Services reflect the finalization of valuations for certain assets and liabilities of
the above acquisitions. The 2013 adjustment to Specialized Lending primarily represents the goodwill associated with a subsidiary that was sold.
During 2014, the transfer of closed-end, first and second lien position residential mortgage loans from Community Banking to Residential Mortgage
Banking resulted in a reallocation of the related goodwill, which is included in other adjustments in the above table.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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