| Intangible Assets |
| | Note 10: Intangible Assets |
Table 10.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 10.1: Intangible Assets | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | December 31, 2016 | | (in millions) | Gross carrying value |
| | Accumulated amortization |
| | Net carrying value |
| | Gross carrying value |
| | Accumulated amortization |
| | Net carrying value |
| Amortized intangible assets (1): | | | | | | | | | | | | MSRs (2) | $ | 3,876 |
| | (2,452 | ) | | 1,424 |
| | 3,595 |
| | (2,189 | ) | | 1,406 |
| Core deposit intangibles | 12,834 |
| | (12,065 | ) | | 769 |
| | 12,834 |
| | (11,214 | ) | | 1,620 |
| Customer relationship and other intangibles | 3,994 |
| | (3,153 | ) | | 841 |
| | 3,928 |
| | (2,839 | ) | | 1,089 |
| Total amortized intangible assets | $ | 20,704 |
| | (17,670 | ) | | 3,034 |
| | 20,357 |
| | (16,242 | ) | | 4,115 |
| Unamortized intangible assets: | | | | | | | | | | | | MSRs (carried at fair value) (2) | $ | 13,625 |
| | | | | | 12,959 |
| | | | | Goodwill | 26,587 |
| | | | | | 26,693 |
| | | | | Trademark | 14 |
| | | | | | 14 |
| | | | |
| | (1) | Excludes fully amortized intangible assets. |
| | (2) | See Note 9 (Mortgage Banking Activities) for additional information on MSRs. |
Table 10.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at December 31, 2017. Future amortization expense may vary from these projections.
Table 10.2: Amortization Expense for Intangible Assets | | | | | | | | | | | | | | (in millions) | Amortized MSRs |
| | Core deposit intangibles |
| | Customer relationship and other intangibles (1) |
| | Total |
| Year ended December 31, 2017 (actual) | $ | 263 |
| | 851 |
| | 314 |
| | 1,428 |
| Estimate for year ended December 31, | | | | | | | | 2018 | $ | 255 |
| | 769 |
| | 299 |
| | 1,323 |
| 2019 | 223 |
| | — |
| | 116 |
| | 339 |
| 2020 | 200 |
| | — |
| | 96 |
| | 296 |
| 2021 | 172 |
| | — |
| | 82 |
| | 254 |
| 2022 | 152 |
| | — |
| | 68 |
| | 220 |
|
| | (1) | The year ended December 31, 2017 balance includes $13 million for lease intangible amortization. |
Table 10.3 shows the allocation of goodwill to our reportable operating segments.
Table 10.3: Goodwill | | | | | | | | | | | | | | (in millions) | Community Banking |
| | Wholesale Banking |
| | Wealth and Investment Management |
| | Consolidated Company |
| December 31, 2015 | $ | 16,849 |
| | 7,475 |
| | 1,205 |
| | 25,529 |
| Reduction in goodwill related to divested businesses and other | — |
| | (88 | ) | | (2 | ) | | (90 | ) | Goodwill from business combinations | — |
| | 1,198 |
| | 56 |
| | 1,254 |
| December 31, 2016 | $ | 16,849 |
| | 8,585 |
| | 1,259 |
| | 26,693 |
| Reclassification of goodwill held for sale to Other Assets (1) | — |
| | (13 | ) | | — |
| | (13 | ) | Reduction in goodwill related to divested businesses and other | — |
| | (117 | ) | | — |
| | (117 | ) | Goodwill from business combinations | — |
| | — |
| | 24 |
| | 24 |
| December 31, 2017 (1) | $ | 16,849 |
| | 8,455 |
| | 1,283 |
| | 26,587 |
|
| | (1) | Goodwill reclassified to held-for-sale in other assets of $13 million for the year ended December 31, 2017, relates to the sales agreement for Wells Fargo Shareowner Services. No goodwill was classified as held-for-sale in other assets at December 31, 2016 and 2015. |
We assess goodwill for impairment at a reporting unit level, which is one level below the operating segments. Our goodwill was not impaired at December 31, 2017 and 2016. The fair values exceeded the carrying amount of our respective reporting units by approximately 32% to 635% at December 31, 2017. See Note 25 (Operating Segments) for further information on management reporting. |