Navy Federal Credit Union 2011 Annual Report Download - page 39

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2011 FINANCIAL SECTION 23
Unused commitment balances as of December 31, 2011 and 2010 were as follows:
(dollars in thousands) 2011 2010
Credit cards $ 7,760,576 $ 6,410,948
Overdra lines of credit 707,678 654,091
Home equity lines of credit 973,931 1,046,912
Pre-approved auto loans 187,930 183,428
Utility deposit guarantee programs 2,035 2,718
Letter of credit 7,820 7,500
Total $ 9,639,970 $ 8,305,597
Note 14: Fixed Assets
e following is a summary of property and equipment Navy Federal owned at December 31, 2011 and 2010:
(dollars in thousands) 2011 2010
Land and buildings $ 709,360 $ 667,337
Equipment, furniture and xtures 702,771 634,226
Leasehold improvements 110,088 112,055
Subtotal 1,522,219 1,413,618
Less: Accumulated depreciation (692,356) (619,621)
Total $ 829,863 $ 793,997
Navy Federal has obligations under a number of non-cancelable operating leases for premises. e future minimum payments under the terms of the
leases as of December 31, 2011 were:
(dollars in thousands) Amount
2012 $ 16,548
2013 13,924
2014 10,376
2015 8,221
ereaer 17,923
Total $ 66,992
Rent expense was $20.9 million and $19.0 million for the years ended December 31, 2011 and 2010, respectively. Navy Federal did not receive income
from sublease contracts in 2011 and received $0.08 million of income from sublease contracts in 2010.