Acquisitions/Dispositions Acquisitions/Dispositions (Notes)

12 Months Ended

Dec. 31, 2014

Acquisitions/Dispositions [Abstract]

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

NOTE 2 - ACQUISITIONS/DISPOSITIONS

During the years ended December 31, 2014, 2013, and 2012, the Company had the following notable disposition:

(Dollars in millions)
2014	Date	Cash Received/(Paid)		Goodwill			Other Intangibles			Pre-tax Gain
Sale of RidgeWorth	5/30/2014		$193		($40	)		($9	)		$105

On May 30, 2014, the Company completed the sale of RidgeWorth, its asset management subsidiary with approximately $49.1 billion in assets under management, to an investor group led by a private equity fund managed by Lightyear Capital LLC. The Company received cash proceeds of $193 million, removed $96 million in net assets and $23 million in noncontrolling interests, and recognized a pre-tax gain of $105 million in connection with the sale, net of transaction-related expenses.

The Company’s results for the year ended December 31, 2014, included income before provision for income taxes related to RidgeWorth, excluding the gain on sale, of $22 million, comprised of $81 million of revenue and $59 million of expense. For the year ended December 31, 2013, the Company’s income before provision for income taxes included $64 million related to RidgeWorth, comprised of $194 million of revenue and $130 million of expense. For the year ended December 31, 2012, the Company’s income before provision for income taxes included $67 million related to RidgeWorth, comprised of $202 million of revenue and $135 million of expense.

The financial results of RidgeWorth, including the gain on sale, are reflected in the Corporate Other segment. There were no other material acquisitions or dispositions during the three years ended December 31, 2014.