Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

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 Holdings			Financial Services		Total
	(Dollars in millions)
Goodwill, January 1, 2014	$	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, December 31, 2014	4,634			326		111		88			1,518			192		6,869
Acquired goodwill, net	1,501			43		—		155			16			11		1,726
American Coastal sale	—			—		—		—			(49		)	—		(49		)
Other adjustments	5			—		—		—			(3		)	—		2
Goodwill, December 31, 2015	6,140			369		111		243			1,482			203		8,548
Acquired goodwill, net	753			39		—		2			270			9		1,073
Other adjustments	139			8		—		(132		)	—			2		17
Goodwill, December 31, 2016	$	7,032		$	416	$	111	$	113		$	1,752		$	214	$	9,638

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.

During 2015, BB&T sold American Coastal, which resulted in the allocation and write-off of goodwill from the Insurance Holdings segment.

During 2016, the valuations and purchase price allocation for Susquehanna were finalized and are included in other adjustments in the above table.

The acquisition of Swett & Crawford provided goodwill of $269 million and identifiable intangible assets of $224 million. The identifiable intangible assets are being amortized over a weighted average term of 13 years based upon the estimated economic benefits received. Approximately $135 million of the goodwill and identifiable intangible assets is deductible for tax purposes.

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



		December 31, 2016							December 31, 2015
	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	7.9	$	970	$	(710	)	$	260	$	903	$	(634	)	$	269
Other, primarily customer relationship intangibles	13.0	1,415		(821		)	594		1,164		(747		)	417
Total		$	2,385	$	(1,531	)	$	854	$	2,067	$	(1,381	)	$	686



	Year Ended December 31,
	2017		2018		2019		2020		2021
	(Dollars in millions)
Estimated amortization expense of identifiable intangibles	$	141	$	123	$	104	$	87	$	74

- 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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