Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Note 9 - Goodwill and Other Intangible Assets

At December 31, 2016 and 2015, the net carrying value of goodwill, net of accumulated impairment losses, was $59.7 million, consisting of goodwill associated with two reporting units. $24.4 million of the goodwill was attributable to the trust services reporting unit, and the remaining goodwill of $35.2 million was attributable to the Synovus Bank reporting unit and is a result of the Global One business combination completed during 2016. In connection with the acquisition, Synovus also acquired other intangible assets with preliminary fair values of $13.4 million consisting of existing borrower relationships, trade name, and distribution network. At December 31, 2016, other intangible assets had gross carrying amounts of $14.0 million, accumulated amortization of $817 thousand, and total net carrying value of $13.2 million. Aggregate other intangible assets amortization expense for the years ended December 31, 2016, 2015, and 2014 was $521 thousand, $503 thousand, and $603 thousand, respectively. Aggregate estimated amortization expense over the next five years is $1.1 million for 2017 and $1.2 million for each of the years 2018 through 2021.

At June 30, 2016, Synovus completed its annual goodwill impairment evaluation of the trust services reporting unit, and as a result of this evaluation, concluded that goodwill was not impaired. The estimated fair value of the trust services reporting unit was $129.2 million, which exceeded the carrying value of $77.4 million by $51.8 million, or 40%.

The following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015:



(in thousands)	Trust Services Reporting Unit		Synovus Bank Reporting Unit	Total
Balance as of January 1, 2016
Goodwill	$	24,431	—	24,431
Accumulated impairment losses	—		—	—
	24,431		—	24,431

Goodwill acquired during year	—		35,247	35,247
Impairment losses	—		—	—
Goodwill, net as of December 31, 2016	$	24,431	35,247	59,678

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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