Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

Goodwill allocated to each reportable segment (each a reporting unit) at December 31 is presented as follows:


	2021		2020
	(In millions)
Corporate Bank	$	3,012	$	2,819
Consumer Bank	2,339		1,978
Wealth Management	393		393
	$	5,744	$	5,190

The goodwill allocated to the Corporate Bank reporting unit increased due to the acquisitions of Sabal and Clearsight in the fourth quarter of 2021. The goodwill allocated to the Consumer Bank reporting unit increased due to the acquisition of EnerBank in the fourth quarter of 2021.

Regions assessed the indicators of goodwill impairment for all three reporting units as part of its annual impairment test, as of October 1, 2021, and through the date of the filing of this Annual Report, by performing a qualitative assessment of goodwill at the reporting unit level. In performing the qualitative assessment, the Company evaluated events and circumstances since the last impairment analysis, recent operating performance including reporting unit performance, changes in market capitalization, regulatory actions and assessments, changes in the business climate, company-specific factors and trends in the banking industry. The results of the qualitative assessment indicated that it was more likely than not that the estimated fair value of each reporting unit exceeded its carrying amount as of the test date; therefore, the quantitative goodwill impairment tests were deemed unnecessary.

OTHER INTANGIBLES

The following table presents other intangibles and related accumulated amortization as of December 31:


	2021		2020		2021		2020		2021		2020
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
	(In millions)
Core deposit intangibles	$	1,011	$	1,011	$	1,000	$	991	$	11	$	20
Purchased credit card relationship assets	175		175		157		149		18		26
Relationship assets (1)	267		57		22		8		245		49
Other—amortizing (2)	26		25		18		16		8		9
Agency commercial real estate licenses (3)									20		15
Other—non-amortizing (4)									3		3
	$	1,479	$	1,268	$	1,197	$	1,164	$	305	$	122

_________

(1)Includes intangible assets related to broker and contractor origination networks, vendor networks, and customer relationships.

(2)Includes intangible assets primarily related to acquired trust services, trade names, intellectual property, and employee agreements.

(3)Includes a DUS license acquired in 2014 and commercial real estate licenses acquired in 2021 that are non-amortizing intangible assets. Refer to Note 6 for additional information related to the DUS license.

(4)Includes non-amortizing intangible assets related to other acquired trust services.

Core deposit intangibles, purchased credit card relationships and broker and contractor origination networks are being amortized in other non-interest expense on an accelerated basis over their expected useful lives. Other amortizing intangibles are amortized in other non-interest expense on a straight line basis over their expected useful lives.

The aggregate amount of amortization expense for amortizing intangible assets is estimated as follows:


	Year Ended December 31
	(In millions)
2022	$	52
2023	44
2024	36
2025	30
2026	25

Identifiable intangible assets other than goodwill are reviewed at least annually, usually in the fourth quarter, for events or circumstances that could impact the recoverability of the intangible asset. Regions concluded that no impairment for any identifiable intangible assets occurred during 2021, 2020 or 2019.