Intangible Assets

3 Months Ended

Mar. 31, 2012

Intangible Assets

7. 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 March 31, 2012 of 4years. 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 9. 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 March 31, 2012
	Mortgage servicing rights	$	2,641	(1,327)	(547)	767
	Core deposit intangibles		180	(152)	-	28
	Other		44	(36)	-	8
Total intangible assets		$	2,865	(1,515)	(547)	803
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 March 31, 2011
	Mortgage servicing rights	S	2,347	(1,174)	(279)	894
	Core deposit intangibles		439	(395)	-	44
	Other		44	(33)	-	11
Total intangible assets		S	2,830	(1,602)	(279)	949

As of March 31, 2012, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assets, including servicing rights,for the three months ending March 31, 2012 and 2011was $50 million and$35 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
Remainder of 2012	$	179	9	188
2013		195	8	203
2014		157	4	161
2015		128	2	130
2016		104	2	106