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Premises, Equipment, and Leases | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Premises, Equipment, and Leases | Premises, Equipment, and Leases Premises and equipment on December 31 are summarized below:
(Dollars in thousands) |  | 2018 |  | 2017
Land |  | $ | 107,864 |  |  | $ | 104,454 |
Buildings |  | 461,665 |  |  | 472,619 |
Leasehold improvements |  | 30,230 |  |  | 26,640 |
Furniture, fixtures, and equipment |  | 196,469 |  |  | 194,057 |
Fixed assets held-for-sale (a) |  | 19,617 |  |  | 53,195 |
Premises and equipment, at cost |  | 815,845 |  |  | 850,965 |
Less accumulated depreciation and amortization |  | 321,804 |  |  | 318,714 |
Premises and equipment, net |  | $ | 494,041 |  |  | $ | 532,251 |
(a) Primarily comprised of land and buildings. FHN is obligated under a number of noncancelable operating leases for premises with terms up to 41 years, which may include the payment of taxes, insurance and maintenance costs. Operating leases for equipment are not material. In 2018 and 2017, FHN recognized $3.9 million and $6.0 million, respectively, of fixed asset impairments and lease abandonment charges related to branch closures which are included in All other expenses on the Consolidated Statements of Income. In 2018, $1.5 million of impairment recoveries were recorded upon disposition of the associated properties. In 2018 and 2017, FHN had net gains of $4.3 million and $.4 million, respectively, related to the sales of bank branches which are included in All other income and commissions on the Consolidated Statements of Income. Minimum future lease payments for noncancelable operating leases, primarily on premises, on December 31, 2018 are shown below. Aggregate minimum income under sublease agreements for these periods is not material.
(Dollars in thousands) |  |
2019 |  | $ | 27,524 |
2020 |  | 24,722 |
2021 |  | 20,954 |
2022 |  | 16,518 |
2023 |  | 13,174 |
2024 and after |  | 42,370 |
Total minimum lease payments |  | $ | 145,262 |
Payments required under capital leases are not material. Rent expense incurred under all operating lease obligations for the years ended December 31 is as follows:
(Dollars in thousands) |  | 2018 |  | 2017 |  | 2016
Rent expense, gross |  | $ | 34,729 |  |  | $ | 23,116 |  |  | $ | 20,812 |
Sublease income |  | (647 | ) |  | (631 | ) |  | (477 | )
Rent expense, net |  | $ | 34,082 |  |  | $ | 22,485 |  |  | $ | 20,335 |

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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