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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill The following is a summary of goodwill by reportable segment included in the Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023.
GOODWILL
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Total
December 31, 2022 (a) |  | $ | 825 |  |  | $ | 686 |  |  | $ | 1,511 |
Additions |  | — |  |  | — |  |  | — |
Divestitures (b) |  | — |  |  | (1) |  |  | (1) |
December 31, 2023 |  | $ | 825 |  |  | $ | 685 |  |  | $ | 1,510 |
Additions |  | — |  |  | — |  |  | — |
Divestitures |  | — |  |  | — |  |  | — |
September 30, 2024 |  | $ | 825 |  |  | $ | 685 |  |  | $ | 1,510 |
(a)FHN reorganized its internal management structure and reallocated goodwill in its reportable segments effective January 1, 2024. Prior periods have been revised to reflect this reallocation. (b)Reduction in goodwill is related to the divestiture of FHN Financial Main Street Advisors assets in December 2023. FHN performed the required annual goodwill impairment test as of October 1, 2023. The annual qualitative impairment test did not indicate impairment in any of FHN’s reporting units as of the testing date. Following the testing date, management evaluated the events and circumstances that could indicate that goodwill might be impaired and concluded that it is not more likely than not that goodwill was impaired. If there are any triggering events between annual periods, management will evaluate whether an impairment analysis is warranted. FHN is currently in the process of performing its annual impairment analysis as of October 1, 2024. Accounting estimates and assumptions were made about FHN's future performance and cash flows, as well as other prevailing market factors (e.g., interest rates, economic trends, etc.) when determining fair value as part of the goodwill impairment test. While management used the best information available to estimate future performance for each reporting unit, future adjustments to management's projections may be necessary if conditions differ substantially from the assumptions used in making the estimates. Other intangible assets The following table, which excludes fully amortized intangibles, presents other intangible assets included in the Consolidated Balance Sheets:
OTHER INTANGIBLE ASSETS
|  | September 30, 2024 |  | December 31, 2023
(Dollars in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Core deposit intangibles |  | $ | 368 |  |  | $ | (236) |  |  | $ | 132 |  |  | $ | 368 |  |  | $ | (208) |  |  | $ | 160 |
Client relationships |  | 32 |  |  | (17) |  |  | 15 |  |  | 32 |  |  | (16) |  |  | 16 |
Other (a) |  | 27 |  |  | (20) |  |  | 7 |  |  | 27 |  |  | (17) |  |  | 10 |
Total |  | $ | 427 |  |  | $ | (273) |  |  | $ | 154 |  |  | $ | 427 |  |  | $ | (241) |  |  | $ | 186 |
(a)Includes non-compete covenants and purchased credit card intangible assets. Also includes state banking licenses which are not subject to amortization.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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