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SUNTRUST  ANNUAL REPORT 79
Operating Capital
(Dollars in thousands) Leases Leases
 , ,
 , ,
 , ,
 , ,
 , ,
Thereafter , ,
Total minimum lease payments , ,
Amounts representing interest ,
Present value of net minimum lease payments ,
The carrying amounts of premises and equipment subject to mortgage
indebtedness (included in long-term debt) were not significant at December
,  and .
Various Company facilities are leased under both capital and noncan-
celable operating leases with initial remaining terms in excess of one year.
Minimum payments, by year and in aggregate, as of December , 
were as follows:
Net premises and equipment included . million and . million at
December ,  and , respectively, related to capital leases.
Aggregate rent expense (principally for offices), including contingent
rent expense, amounted to.million, . million, and .
million for ,  and , respectively. Depreciation/amortization
expense for the years ended December , ,  and  totaled
. million, . million and . million, respectively.
NOTE  • Premises and Equipment
Premises and equipment at December  were as follows:
(Dollars in thousands) Useful Life  
Land , ,
Buildings and improvements –  years ,, ,,
Leasehold improvements –  years , ,
Furniture and equipment –  years ,, ,,
Construction in progress , ,
,, ,,
Less accumulated depreciation and amortization ,, ,,
Total premises and equipment ,, ,,