Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v2.4.0.8
Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2013
Goodwill and Other Intangible Assets [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

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) Banking Banking AFCRE   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