Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Other Intangible Assets

NOTE 6. Goodwill and Other Intangible Assets

The changes in the carrying amounts of goodwill attributable to BB&T's operating segments are reflected in the table below. There have been no goodwill impairments recorded to date.

		Community Banking		Residential Mortgage Banking		Dealer Financial Services		Specialized Lending		Insurance Services		Financial Services		Total

		(Dollars in millions)
Goodwill balance, January 1, 2012		$	4,542	$	7	$	111	$	94	$	1,132	$	192	$	6,078
	Acquired goodwill, net		358		―		―		5		358		―		721
	Contingent consideration		―		―		―		―		3		―		3
	Other adjustments		―		―		―		―		2		―		2
Goodwill balance, December 31, 2012		$	4,900	$	7	$	111	$	99	$	1,495	$	192	$	6,804
	Contingent consideration		―		―		―		―		6		―		6
	Other adjustments		24		―		―		(11)		(9)		―		4
Goodwill balance, December 31, 2013		$	4,924	$	7	$	111	$	88	$	1,492	$	192	$	6,814
	Acquired goodwill, net		29		―		―		―		12		―		41
	Contingent consideration		―		―		―		―		14		―		14
	Other adjustments		(319)		319		―		―		―		―		―
Goodwill balance, December 31, 2014		$	4,634	$	326	$	111	$	88	$	1,518	$	192	$	6,869

During 2012, BB&T completed the acquisition of Fort Lauderdale, Florida-based BankAtlantic. The 2012 change in Community Banking goodwill was primarily the result of this acquisition. Also during 2012, BB&T acquired the life and property and casualty insurance divisions of Crump Group Inc. The 2012 changes in Insurance Services goodwill and other identifiable intangibles were primarily due to this acquisition.

The 2013 adjustments to goodwill within Community Banking and Insurance Services reflect the finalization of valuations for certain assets and liabilities of the above acquisitions. The 2013 adjustment to Specialized Lending primarily represents the goodwill associated with a subsidiary that was sold.

During 2014, BB&T purchased 21 bank branches in Texas from Citigroup, Inc., resulting in Community Banking's acquired goodwill above. Also during 2014, the transfer of closed-end, first and second lien position residential mortgage loans from Community Banking to Residential Mortgage Banking resulted in a reallocation of the related goodwill, which is included in other adjustments in the above table.

The following table presents information for identifiable intangible assets subject to amortization:

			December 31, 2014								December 31, 2013
			Wtd. Avg. Remaining Life		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

			(Years)		(Dollars in millions)
	CDI			6.8	$	693	$	(585)	$	108	$	672	$	(555)	$	117
	Other, primarily customer relationship
		intangibles		14.7		1,088		(691)		397		1,082		(630)		452
		Total			$	1,781	$	(1,276)	$	505	$	1,754	$	(1,185)	$	569

	Year Ended December 31,
	2015		2016		2017		2018		2019

		(Dollars in millions)
Estimated amortization expense of identifiable intangibles	$	79	$	68	$	59	$	52	$	43

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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