Premises, equipment, and software are recorded at cost and presented net of accumulated depreciation and amortization. Depreciation is calculated primarily using the straight-line method and is allocated to operations over the estimated useful lives of the assets— generally 25 to 40 years for buildings, three to 10 years for furniture and equipment, and three to 10 years for software, including capitalized technology initiative costs. Leasehold improvements are amortized over the shorter of the lease term (including any reasonably certain extension options) or the estimated useful life of the improvements. All premises, equipment, and software are evaluated periodically for impairment.

The following schedule presents the components of our premises, equipment, and software, including the related accumulated depreciation and amortization:


(In millions)	December 31,
	2025		2024

Land	$	296	$	284
Buildings	1,010		980
Furniture and equipment	336		337
Leasehold improvements	132		139
Software	632		585
Total premises, equipment, and software 1	2,406		2,325
Less accumulated depreciation and amortization	1,043		959
Net book value	$	1,363	$	1,366

1 Totals for 2025 and 2024 include $91 million and $51 million, respectively, of capitalized costs that are not yet subject to depreciation because the related assets have not been placed in service.