Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Note 8 - Goodwill and Other Intangible Assets

At December 31, 2017 and 2016, the net carrying value of goodwill was $57.3 million and $59.7 million, respectively, consisting of goodwill associated with two reporting units. At December 31, 2017, $24.4 million of the goodwill was attributable to the trust services reporting unit, and the remaining $32.9 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 Global One acquisition, Synovus also acquired other intangible assets with an aggregate estimated fair value of $12.5 million consisting of existing borrower relationships, trade name, and distribution network. The weighted average amortization period for Global One acquired intangibles was 10.8 years. Aggregate other intangible assets amortization expense for the years ended December 31, 2017, 2016, 2015 was $1.1 million, $521 thousand, and $503 thousand, respectively. Estimated amortization expense over each of the next five years is $1.2 million.

At June 30, 2017, Synovus completed its annual goodwill impairment evaluation applying ASC 350-20-35-3A Goodwill Subsequent Measurement - Qualitative Assessment Approach and concluded that goodwill was not impaired.

The following table shows the changes in the carrying amount of goodwill for the year ended December 31, 2017:



(in thousands)	Trust Services Reporting Unit		Synovus Bank Reporting Unit			Total
Balance as of December 31, 2016
Goodwill	$	24,431	$	35,247		$	59,678
Accumulated impairment losses	—		—			—
Measurement period adjustments	—		(2,363		)	(2,363		)
Goodwill, net, as of December 31, 2017	$	24,431	$	32,884		$	57,315

The following table shows the carrying amount of other intangibles as of December 31, 2017 and 2016:



(in thousands)	2017			2016
Other intangibles	$	13,140		$	14,040
Accumulated amortization	(1,886		)	(817		)
Other intangibles, net	$	11,254		$	13,223

- 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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