Intangible Assets

9 Months Ended

Sep. 30, 2016

Intangible Assets

Intangible Assets

9. Intangible Assets

Intangible assets consist of core deposit intangibles, customer lists, non-compete agreements and cardholder relationships. Intangible assetsare 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 September 30, 2016of 4.2 years.

The details of the Bancorp’s intangible assets are shown in the following table:
			Gross Carrying	Accumulated	Net Carrying
($ in millions)			Amount	Amortization	Amount
As of September 30, 2016
	Core deposit intangibles	$	34	(26)	8
	Other		15	(13)	2
Total intangible assets		$	49	(39)	10
As of December 31, 2015
	Core deposit intangibles	$	34	(26)	8
	Other		33	(29)	4
Total intangible assets		$	67	(55)	12

As of September 30, 2016, all of the Bancorp’s intangible assets were being amortized. Amortization expense recognized on intangible assets was immaterial and $1 millionfor the three months ended September 30, 2016 and 2015, respectively, and $1 million and $2million for the nine months ended September 30, 2016 and 2015, respectively. The Bancorp's projections of amortization expense shown below are based on existing asset balances as of September 30, 2016. Future amortization expense may vary from these projections.

Estimated amortization expense for the remainder of 2016 through 2020 is as follows:
($ in millions)		Total
Remainder of 2016	$	-
2017		2
2018		1
2019		1
2020		1