FIRST HORIZON NATIONAL CORP | 2013 | FY | 3


Note 7Intangible Assets

The following is a summary of intangible assets, net of accumulated amortization, included in the Consolidated Statements of Condition: 
      Other 
   Intangible 
(Dollars in thousands)GoodwillAssets (a) 
December 31, 2010$ 162,180 $ 32,881 
Amortization expense (b)  -   (4,380) 
Impairment (c) (d)  (10,100)   - 
Divestitures (d)  (18,421)   (2,258) 
December 31, 2011  $ 133,659 $ 26,243 
Amortization expense  -   (3,910) 
Additions  583   367 
December 31, 2012  $ 134,242 $ 22,700 
Amortization expense    -   (3,912) 
Additions (d)  7,701   3,200 
December 31, 2013  $ 141,943 $ 21,988 

The gross carrying amount of other intangible assets subject to amortization is $61.1 million on December 31, 2013, net of $39.1 million of accumulated amortization. Estimated aggregate amortization expense is expected to be $3.9 million, $3.7 million, $3.6 million, $3.3 million, and $3.2 million for the twelve-month periods of 2014, 2015, 2016, 2017, and 2018, respectively.

The agreement to sell FHI resulted in a pre-tax goodwill impairment of $10.1 million in first quarter 2011. In second quarter 2011, the remaining $16.4 million of goodwill was removed in conjunction with the divestiture. The sale of Msaver during third quarter 2011 resulted in the removal of $2.0 million of goodwill. During 2011, FHN also recognized $2.2 million and $.1 million of other intangible asset write-offs related to the FHI and Msaver divestitures, respectively.

The following is a summary of gross goodwill and accumulated impairment losses and write-offs detailed by reportable segments included in the Consolidated Statements of Condition through December 31, 2013. Gross goodwill, accumulated impairments, and accumulated divestiture related write-offs were determined beginning on January 1, 2002, when a change in accounting requirements resulted in goodwill being assessed for impairment rather than being amortized. 
       Regional Capital     
(Dollars in thousands)Non-StrategicBankingMarketsTotal 
Gross goodwill$  199,995 $  36,238 $  97,421 $  333,654 
Accumulated impairments   (104,023)    -    -    (104,023) 
Accumulated divestiture related write-offs   (67,451)    -    -    (67,451) 
December 31, 2010$  28,521 $  36,238 $  97,421 $  162,180 
  Additions   -    -    -    - 
  Impairments   (10,100)    -    -    (10,100) 
  Divestitures   (18,421)    -    -    (18,421) 
 Net change in goodwill during 2011   (28,521)    -    -    (28,521) 
Gross goodwill$  199,995 $  36,238 $  97,421 $  333,654 
Accumulated impairments   (114,123)    -    -    (114,123) 
Accumulated divestiture related write-offs   (85,872)    -    -    (85,872) 
December 31, 2011$  - $  36,238 $  97,421 $  133,659 
  Additions   -    -    583    583 
  Impairments   -    -    -    - 
  Divestitures   -    -    -    - 
 Net change in goodwill during 2012   -    -    583    583 
Gross goodwill$  199,995 $  36,238 $  98,004 $  334,237 
Accumulated impairments   (114,123)    -    -    (114,123) 
Accumulated divestiture related write-offs   (85,872)    -    -    (85,872) 
December 31, 2012$  - $  36,238 $  98,004 $  134,242 
  Additions   -    7,701    -    7,701 
  Impairments   -    -    -    - 
  Divestitures   -    -    -    - 
 Net change in goodwill during 2013   -    7,701    -    7,701 
Gross goodwill$  199,995 $  43,939 $  98,004 $  341,938 
Accumulated impairments   (114,123)    -    -    (114,123) 
Accumulated divestiture related write-offs   (85,872)    -    -    (85,872) 
December 31, 2013$  - $  43,939 $  98,004 $  141,943 

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