Intangible Assets

12 Months Ended

Dec. 31, 2011

Intangible Assets

10. 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 December 31, 2011 of 3.9years. 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 12. The details of the Bancorp's intangible assets are shown in the following table.

			Gross Carrying	Accumulated	Valuation	Net Carrying
($ in millions)			Amount	Amortization	Allowance	Amount
As of December 31, 2011
	Mortgage servicing rights	$	2,520	(1,281)	(558)	681
	Core deposit intangibles		439	(407)	-	32
	Other		44	(36)	-	8
Total intangible assets		$	3,003	(1,724)	(558)	721
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 December 31, 2011, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assets, including servicing rights,for the years ending December 31, 2011, 2010 and 2009 was $157 million, $181 million and $204 million, respectively.Estimated amortization expense for the years ending December 31, 2012through 2016 is as follows:

		Mortgage	Other
($ in millions)		Servicing Rights	Intangible Assets	Total
2012	$	252	13	265
2013		193	8	201
2014		153	4	157
2015		121	2	123
2016		97	2	99