Intangible Assets

6 Months Ended

Jun. 30, 2018

Intangible Assets

Intangible Assets

8. Intangible Assets

Intangible assets consist of core deposit intangibles, customer relationships, non-compete agreements, trade names and rent intangibles. Intangible assetsare amortized on either a straight-line or an accelerated basis over their estimated useful lives. The increase in gross carrying amount of intangible assets from the year ended December 31, 2017 primarily reflects acquisition activity during the first quarter of 2018.

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 June 30, 2018
Core deposit intangibles	$	34	(29)	5
Customer relationships		20	(1)	19
Non-compete agreements		14	(11)	3
Other		6	(3)	3
Total intangible assets	$	74	(44)	30
As of December 31, 2017
Core deposit intangibles	$	34	(29)	5
Customer relationships		16	-	16
Non-compete agreements		13	(10)	3
Other		6	(3)	3
Total intangible assets	$	69	(42)	27

As of June 30, 2018, all of the Bancorp’s intangible assets were being amortized. Amortization expense recognized on intangible assets was $1 million andimmaterial for the three months ended June 30, 2018 and 2017, respectively,and $2 millionand $1 million for the six months ended June 30, 2018 and 2017, respectively. The Bancorp's projection of amortization expense shown in the following table is based on existing balances as of June 30, 2018. Future amortization expense may vary from these projections.

Estimated amortization expense for the remainder of 2018 through 2022 is as follows:
($ in millions)		Total
Remainder of 2018	$	3
2019		5
2020		3
2021		3
2022		2