Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

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Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2015
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. We have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. A Treasury / Other function includes, along with technology and operations, other unallocated assets, liabilities, revenue, and expense.

A rollforward of goodwill by business segment for the first three-month period of 2015 is presented in the table below:

Retail &
Business Commercial Treasury/ Huntington
(dollar amounts in thousands) Banking Banking AFCRE RBHPCG Other Consolidated
Balance, beginning of period $ 368,097 $ 59,594 $ --- $ 90,012 $ $ 4,838 $ 522,541
Goodwill acquired
during the period --- 155,828 --- --- --- 155,828
Adjustments --- --- --- --- --- ---
Impairment --- --- --- --- --- ---
Balance, end of period $ 368,097 $ 215,422 $ --- $ 90,012 $ $ 4,838 $ 678,369

During the 2015 first quarter, Huntington completed the acquisition of Macquarie and recorded $155.8 million of goodwill and $8.2 million of other intangible assets. For additional information on the acquisition, see Business Combinations footnote.

Goodwill is not amortized but is evaluated for impairment on an annual basis at October 1 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. As a result of the 2014 first quarter reorganization in our reported business segments, goodwill was reallocated among the business segments. Immediately following the reallocation, impairment of $3.0 million was recorded in the Home Lending reporting segment.

At March 31, 2015 and December 31, 2014, Huntington’s other intangible assets consisted of the following:

Gross Net
Carrying Accumulated Carrying
(dollar amounts in thousands) Amount Amortization Value
March 31, 2015
Core deposit intangible $ 400,058 $ (374,940) $ 25,118
Customer relationship 116,120 (68,696) 47,424
Other 25,164 (25,041) 123
Total other intangible assets $ 541,342 $ (468,677) $ 72,665
December 31, 2014
Core deposit intangible $ 400,058 $ (366,907) $ 33,151
Customer relationship 107,920 (66,534) 41,386
Other 25,164 (25,030) 134
Total other intangible assets $ 533,142 $ (458,471) $ 74,671

The estimated amortization expense of other intangible assets for the remainder of 2015 and the next five years is as follows:

(dollar amounts Amortization
in thousands) Expense
2015 $ 17,724
2016 14,316
2017 12,908
2018 11,135
2019 9,825
2020 3,076