Intangible Assets

12 Months Ended

Dec. 31, 2014

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, 2014 of 4.5 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, 2014
	Core deposit intangibles	$	122	(112)	-	10
	Other		45	(40)	-	5
Total intangible assets		$	167	(152)	-	15
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, 2014, all of the Bancorp's intangible assets were being amortized. Amortization expense recognized on intangible assetsfor the years endedDecember 31, 2014, 2013 and 2012 was $4 million, $8 million and $13 million, respectively.

The Bancorp's projections of amortization expense shown below are based on existing asset balances as of December 31, 2014. Future amortization expense may vary from these projections. Estimated amortization expense for the years ending December 31, 2015 through 2019 is as follows:
($ in millions)		Total
2015	$	2
2016		2
2017		2
2018		2
2019		1