Intangible Assets

12 Months Ended

Dec. 31, 2016

Intangible Assets

Intangible Assets

10. 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, 2016 of 4.1 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 December 31, 2016
	Core deposit intangibles	$	34	(27)	7
	Other		15	(13)	2
Total intangible assets		$	49	(40)	9
As of December 31, 2015
	Core deposit intangibles	$	34	(26)	8
	Other		33	(29)	4
Total intangible assets		$	67	(55)	12

As of December 31, 2016, all of the Bancorp’s intangible assets were being amortized. Amortization expense recognized on intangible assets for both the years ended December 31, 2016 and2015 was $2 million and amortization expense recognized on intangible assets for the year ended December 31, 2014was $4 million. The Bancorp’s projections of amortization expense shown on the following table is based on existing asset balances as of December 31, 2016. Future amortization expense may vary from these projections.

Estimated amortization expense for the years ending December 31, 2017 through 2021 is as follows:
($ in millions)		Total
2017	$	2
2018		1
2019		1
2020		1
2021		1