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Intangible Assets
9 Months Ended
Sep. 30, 2011
Intangible Assets

8. Intangible Assets

Intangible assets consist of servicing rights, core deposit intangibles, customer lists, non-compete agreements and cardholder relationships. Intangible assets, excluding servicing rights, are amortized on either a straight-line or an accelerated basis over their estimated useful lives and have an estimated weighted-average life at September 30, 2011 of 3.8 years. The Bancorp reviews intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. For more information on servicing rights, see Note 10. The details of the Bancorp's intangible assets are shown in the following table.

   Gross CarryingAccumulated ValuationNet Carrying
($ in millions)  AmountAmortization Allowance Amount
As of September 30, 2011:         
 Mortgage servicing rights$2,440 (1,234) (544) 662 
 Core deposit intangibles 439 (404)  - 35 
 Other 44 (34)  - 10 
Total intangible assets$2,923 (1,672) (544) 707 
As of December 31, 2010:         
 Mortgage servicing rights$2,284 (1,146) (316) 822 
 Core deposit intangibles 439 (389)  - 50 
 Other 44 (32)  - 12 
Total intangible assets$2,767 (1,567) (316) 884 
As of September 30, 2010:         
 Mortgage servicing rights$2,167 (1,099) (469) 599 
 Core deposit intangibles 487 (428)  - 59 
 Other 53 (40)  - 13 
Total intangible assets$2,707 (1,567) (469) 671 

As of September 30, 2011, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assets, including servicing rights, for the three months ending September 30, 2011 and 2010 was $39 million and $53 million, respectively. For the nine months ended September 30, 2011 and 2010, amortization expense was $105 million and $124 million, respectively. Estimated amortization expense for the years ending December 31, 2011 through 2015 is as follows:

  MortgageOther   
($ in millions) Servicing RightsIntangible AssetsTotal
Remainder of 2011$70 4 74 
2012 235 13 248 
2013 181 8 189 
2014 142 4 146 
2015 112 2 114