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2.0.0.10 false Goodwill and Intangible Assets 116 - Disclosure - Goodwill and Intangible Assets true false false false 1 usd $ false false iso4217_USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 iso4217_USD_per_shares Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares 0 shares Standard http://www.xbrl.org/2003/instance shares 0 5 Goodwill and Intangible Assets 3 us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="100%"></td> </tr> <tr bgcolor="#E5E5E5"> <td valign="top"> NOTE 9 – Goodwill and Intangible Assets </td> </tr> </table> Goodwill The following table presents goodwill at March 31, 2010 and December 31, 2009. As discussed in more detail in Note 17 – Business Segment Information, on January 1, 2010 the Corporation realigned the former Global Banking and Global Markets business segments. There was no impact on the reporting units used in goodwill impairment testing. The reporting units utilized for goodwill impairment tests are the business segments or one level below the business segments.   <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   (Dollars in millions)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">March 31 2010</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">    December 31         2009     </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top">   Deposits </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">17,875</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">17,875    </td> </tr> <tr> <td valign="top">   Global Card Services </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">22,284</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">22,292    </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top">   Home Loans & Insurance </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,797</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,797    </td> </tr> <tr> <td valign="top">   Global Commercial Banking </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">20,656</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">20,656    </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top">   Global Banking & Markets </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,252</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,252    </td> </tr> <tr> <td valign="top">   Global Wealth & Investment Management </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,411</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,411    </td> </tr> <tr bgcolor="#CCEEFF"> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">   All Other </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">30</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">31    </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 2px solid" valign="top">   Total goodwill </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom"> $</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom" align="right">86,305</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom"> $</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom" align="right">86,314    </td> </tr> </table> Based on the results of the annual impairment test at June 30, 2009, and due to continued stress on Home Loans & Insurance and Global Card Services as a result of current market conditions, the Corporation concluded that an additional impairment analysis should be performed for these two reporting units as of March 31, 2010. In performing the first step of the additional impairment analysis, the Corporation compared the fair value of each reporting unit to its carrying value, including goodwill. Consistent with the annual test, the Corporation utilized a combination of the market approach and the income approach for Home Loans & Insurance and the income approach for Global Card Services. For Home Loans & Insurance, the carrying value exceeded the fair value, and accordingly, the second step analysis of comparing the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill was performed. Although Global Card Services passed step one of the goodwill impairment analysis, to further substantiate the value of the goodwill balance, the Corporation also performed the step two analysis for this reporting unit. The results of the second step of the goodwill impairment test for Global Card Services and Home Loans & Insurance were consistent with the results of the annual impairment test, indicating that no goodwill was impaired as of March 31, 2010. Intangible Assets The following table presents the gross carrying values and accumulated amortization related to intangible assets at March 31, 2010.   <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="64%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="5" align="center">March 31, 2010</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="5" align="center">December 31, 2009</td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   (Dollars in millions)</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Gross Carrying Value</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Accumulated Amortization</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Gross Carrying Value</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Accumulated Amortization</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top">   Purchased credit card relationships </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,153</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,611</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,179</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,452  </td> </tr> <tr> <td valign="top">   Core deposit intangibles </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5,394</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,816</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5,394</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,722  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top">   Customer relationships </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,232</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">880</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,232</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">760  </td> </tr> <tr> <td valign="top">   Affinity relationships </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,645</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">789</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,651</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">751  </td> </tr> <tr bgcolor="#CCEEFF"> <td style="BORDER-BOTTOM: #000000 1px solid" valign="top">   Other intangibles </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">3,438</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,218</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">3,438</td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="right">1,183  </td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 2px solid" valign="top">   Total intangible assets </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom"> $</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom" align="right">21,862</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom"> $</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom" align="right">10,314</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom"> $</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom" align="right">21,894</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom">   </td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom"> $</td> <td style="BORDER-BOTTOM: #000000 2px solid" valign="bottom" align="right">9,868  </td> </tr> </table>   Amortization of intangibles expense was $446 million and $520 million for the three months ended March 31, 2010 and 2009. The Corporation estimates aggregate amortization expense will be approximately $430 million for each of the remaining quarters of 2010. The Corporation estimates aggregate amortization expense will be approximately $1.5 billion, $1.3 billion, $1.2 billion, $1.0 billion and $900 million for 2011 through 2015, respectively.   </div> NOTE 9 – Goodwill and Intangible Assets Goodwill The following table presents goodwill at March 31, 2010 and December 31, 2009. As false false false Discloses 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 or 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. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 false false 1 1 false UnKnown UnKnown UnKnown false true