Intangible Assets

6 Months Ended

Jun. 30, 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 remaining weighted-average life at June 30, 2012 of 3.6years. 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 June 30, 2012
	Mortgage servicing rights	$	2,710	(1,367)	(607)	736
	Core deposit intangibles		180	(154)	-	26
	Other		44	(37)	-	7
Total intangible assets		$	2,934	(1,558)	(607)	769
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 June 30, 2011
	Mortgage servicing rights	$	2,389	(1,199)	(343)	847
	Core deposit intangibles		439	(400)	-	39
	Other		44	(34)	-	10
Total intangible assets		$	2,872	(1,633)	(343)	896

As of June 30, 2012, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assets, including servicing rights,for the three months endedJune 30, 2012 and 2011was $44 million and$31 million, respectively. For the six months ended June 30, 2012 and 2011, amortization expense was $94 million and $66 million, respectively. Estimated amortization expense for the remainder of2012through 2016 is as follows:

		Mortgage	Other
($ in millions)		Servicing Rights	Intangible Assets	Total
Remainder of 2012	$	143	6	149
2013		233	8	241
2014		184	4	188
2015		148	2	150
2016		119	2	121