C » Topics » Intangible Assets

These excerpts taken from the C 8-K filed Oct 13, 2009.

Intangible Assets

 

Intangible assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other Intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the Intangible asset.

 

Intangible assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other Intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the Intangible asset.

 

These excerpts taken from the C 10-K filed Feb 27, 2009.

Intangible Assets

Intangible assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other Intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the Intangible asset.

Intangible Assets

Intangible assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other Intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the Intangible asset.

This excerpt taken from the C 8-K filed Jan 23, 2009.

Intangible Assets

 

Intangible Assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset.

 

This excerpt taken from the C 8-K filed Aug 14, 2008.

Intangible Assets

 

Intangible Assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset.

 

This excerpt taken from the C 10-K filed Feb 22, 2008.

Intangible Assets

Intangible Assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs—are amortized over their estimated useful lives. Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset.

This excerpt taken from the C 10-K filed Feb 23, 2007.

Intangible Assets

Intangible Assets—including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets—are amortized over their estimated useful lives. Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset.

This excerpt taken from the C 10-K filed Feb 24, 2006.

Intangible Assets

        Intangible Assets—including MSRs, core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets—are amortized over their estimated useful lives. Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset.

This excerpt taken from the C 10-Q filed Nov 4, 2005.

Intangible Assets:

        The changes in intangible assets during the first three quarters of 2005 were as follows:

In millions of dollars

  Intangible Assets
(Net Carrying Amount)

 
Balance at December 31, 2004   $ 15,271  
   
 
Changes in gross capitalized MSRs(1)(2)   $ 237  
FAB acquisition—core deposit intangibles     88  
Capitalization of credit card intangibles(3)     87  
Servicing rights on Student Loan securitizations     27  
ABN Amro Custody acquisition — other intangibles     8  
Transfers to discontinued operations — Life Insurance and Annuities     (86 )
Amortization expense     (451 )
Foreign exchange translation and other(4)     391  
   
 
Balance at March 31, 2005   $ 15,572  
   
 
Capitalization of credit card intangibles(3)   $ 80  
Servicing rights on Student Loan securitizations     20  
Purchase accounting adjustment — FAB     (45 )
Changes in gross capitalized MSRs(1) (2)     (575 )
Transfers to discontinued operations — Asset Management     (777 )
Amortization expense     (464 )
Foreign exchange translation and other     83  
   
 
Balance at June 30, 2005   $ 13,894  
   
 
Changes in gross capitalized MSRs(1)(2)   $ 982  
Servicing rights on Student Loan securitizations     14  
Purchase accounting adjustment — FAB     13  
Capitalization of credit card intangibles(3)     6  
Purchase accounting adjustment — ABN Amro Custody     5  
Amortization expense     (449 )
Foreign exchange translation and other     (89 )
   
 
Balance at September 30, 2005   $ 14,376  
   
 

(1)
See Note 13 to the Consolidated Financial Statements for a summarization of the changes in capitalized MSRs.

(2)
Excludes amortization of MSRs, which is reflected separately within this table under amortization expense.

(3)
Net of reductions within the period.

(4)
Includes balance sheet reclassification of intangible assets.

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        The components of intangible assets were as follows:

 
  September 30, 2005
  December 31, 2004
In millions of dollars

  Gross Carrying
Amount

  Accumulated
Amortization(1)

  Net Carrying
Amount

  Gross Carrying
Amount

  Accumulated
Amortization(1)

  Net Carrying
Amount

Purchased credit card relationships   $ 7,011   $ 2,789   $ 4,222   $ 7,040   $ 2,366   $ 4,674
Mortgage servicing rights(1)     8,601     4,421     4,180     8,099     3,950     4,149
Core deposit intangibles     1,235     396     839     1,158     318     840
Other customer relationships     1,077     556     521     1,089     497     592
Present value of future profits     428     224     204     781     474     307
Other(2)     4,515     601     3,914     4,129     692     3,437
   
 
 
 
 
 
Total amortizing intangible assets   $ 22,867   $ 8,987   $ 13,880   $ 22,296   $ 8,297   $ 13,999
Indefinite-lived intangible assets                 496                 1,272
   
 
 
 
 
 
Total intangible assets               $ 14,376               $ 15,271
   
 
 
 
 
 

(1)
Accumulated amortization of mortgage servicing rights includes the related valuation allowance.

(2)
Includes contract-related intangible assets.
This excerpt taken from the C 8-K filed Sep 9, 2005.

Intangible Assets

 

Intangible Assets, including MSRs, core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, are amortized over their estimated useful lives unless they are deemed to have indefinite useful lives.  Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value.  For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and the carrying amount exceeds the fair value of the intangible asset.

 

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This excerpt taken from the C 8-K filed Jun 7, 2005.

Intangible Assets

 

Intangible Assets, including MSRs, core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, are amortized over their estimated useful lives unless they are deemed to have indefinite useful lives.  Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value.  For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and the carrying amount exceeds the fair value of the intangible asset.

 

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This excerpt taken from the C 10-K filed Feb 28, 2005.

Intangible Assets

        Intangible Assets, including MSRs, core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, are amortized over their estimated useful lives unless they are deemed to have indefinite useful lives. Upon the adoption of SFAS 142, intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For other intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and the carrying amount exceeds the fair value of the intangible asset.

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