Intangible Assets

12 Months Ended

Dec. 31, 2013

Intangible Assets

Intangible Assets

9. INTANGIBLE ASSETS

Intangible assets consist of core deposit intangibles, customer lists, non-compete agreements and cardholder relationships. Intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives. Intangible assets have an estimated remaining weighted-average life at December 31, 2013 of 4.1 years.

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, 2013
	Core deposit intangibles	$	154	(141)	-	13
	Other		45	(39)	-	6
Total intangible assets		$	199	(180)	-	19
As of December 31, 2012
	Core deposit intangibles	$	180	(160)	-	20
	Other		44	(37)	-	7
Total intangible assets		$	224	(197)	-	27

As of December 31, 2013, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assetsfor the years endedDecember 31, 2013, 2012 and 2011 was $8 million, $13 million and $22 million, respectively.

The Bancorp's projections of amortization expense shown below are based on existing asset balances as of December 31, 2013. Future amortization expense may vary from these projections. Estimated amortization expense for the years ending December 31, 2014 through 2018 is as follows:
($ in millions)		Total
2014	$	5
2015		2
2016		2
2017		2
2018		2