HUNTINGTON BANCSHARES INC/MD | 2013 | FY | 3


7. Goodwill and Other Intangible Assets

 

Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. No segments were significantly changed and no reallocation of goodwill occurred in either 2013 or 2012.

 

A rollforward of goodwill by business segment for the years ended December 31, 2013 and 2012, is presented in the table below:

  Retail & Regional &          
  Business Commercial      Treasury/ Huntington
(dollar amounts in thousands)BankingBankingAFCRE WGH  Other Consolidated
Balance, January 1, 2012$ 286,824 $ 16,169 $ --- $ 98,951 $ 42,324 $ 444,268
 Adjustments / Reallocation of goodwill  ---   ---   ---   ---   ---   ---
Balance, December 31, 2012  286,824   16,169   ---   98,951   42,324   444,268
 Adjustments / Reallocation of goodwill  ---   ---   ---   ---   ---   ---
Balance, December 31, 2013$ 286,824 $ 16,169 $ --- $ 98,951 $ 42,324 $ 444,268

Goodwill is not amortized but is evaluated for impairment on an annual basis as of October 1st each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. No impairment was recorded in 2013, 2012 or 2011.

 

At December 31, 2013 and 2012, Huntington's other intangible assets consisted of the following:

   Gross    Net
   Carrying Accumulated  Carrying
(dollar amounts in thousands) Amount Amortization  Value
         
December 31, 2013       
 Core deposit intangible$ 380,249$ (335,552) $ 44,697
 Customer relationship   106,974  (58,675)   48,299
 Other  25,164  (24,967)   197
Total other intangible assets$ 512,387$ (419,194) $ 93,193
         
December 31, 2012       
 Core deposit intangible$ 380,249$ (302,003) $ 78,246
 Customer relationship   104,574  (50,925)   53,649
 Other  25,164  (24,902)   262
Total other intangible assets$ 509,987$ (377,830) $ 132,157
         

The estimated amortization expense of other intangible assets for the next five years is as follows:
   Amortization
(dollar amounts in thousands) Expense
    
2014 $ 36,711
2015   20,550
2016   7,336
2017   6,854
2018   5,983

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