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PREMISES AND EQUIPMENT | 12 Months Ended
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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.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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