Intangible Assets

12 Months Ended

Dec. 31, 2012

Intangible Assets

9. INTANGIBLE ASSETS

Intangible assets consist of mortgage 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 December 31, 2012 of 3.9 years. For more information on mortgage servicing rights, see Note 11.

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, 2012
	Mortgage servicing rights	$	2,825	(1,467)	(661)	697
	Core deposit intangibles		180	(160)	-	20
	Other		44	(37)	-	7
Total intangible assets		$	3,049	(1,664)	(661)	724
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, 2012, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assets, including mortgage servicing rights,for the years ending December 31, 2012, 2011 and 2010 was $199 million, $157 million and $181 million, respectively.

Estimated amortization expense for the years ending December 31, 2013 through 2017 is as follows:
		Mortgage	Other
($ in millions)		Servicing Rights	Intangible Assets	Total
2013	$	284	8	292
2014		220	4	224
2015		173	2	175
2016		137	2	139
2017		109	2	111