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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Note 5 - Goodwill and Other Intangible Assets During the first quarter of 2022, Synovus reorganized its internal management reporting structure to add an additional segment for Consumer Banking. The Consumer Banking segment was previously included in the Community Banking segment. In connection with the reorganization, management reallocated a portion of the Community Banking goodwill to Consumer Banking using a relative fair value approach. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 17 - Segment Reporting" in this Report for additional information. Goodwill allocated to each reporting unit at December 31, 2022 and 2021 is presented as follows:
(in thousands) | Wholesale Banking Reporting Unit |  | Community Banking Reporting Unit |  | Consumer Banking Reporting Unit |  |  |  | Wealth Management Reporting Unit |  | Total Goodwill
Balance as of December 31, 2020 (1) | $ | 171,636 |  |  | $ | 256,323 |  |  | $ | — |  |  |  |  | $ | 24,431 |  |  | $ | 452,390 |
Change in goodwill | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |
Balance as of December 31, 2021 | $ | 171,636 |  |  | $ | 256,323 |  |  | $ | — |  |  |  |  | $ | 24,431 |  |  | $ | 452,390 |
Change in goodwill from reallocation | — |  |  | (114,701) |  |  | 114,701 |  |  |  |  | — |  |  | — |
Balance as of December 31, 2022 | $ | 171,636 |  |  | $ | 141,622 |  |  | $ | 114,701 |  |  |  |  | $ | 24,431 |  |  | $ | 452,390 |
(1) During 2020, Synovus recorded a $44.9 million goodwill impairment charge representing all of the goodwill allocated to the Consumer Mortgage reporting unit; as such, the Consumer Mortgage reporting unit is not presented in the table above. Goodwill is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). During the fourth quarter of 2022, Synovus completed its annual goodwill impairment evaluation by performing a qualitative assessment of goodwill at the reporting unit level. In performing the qualitative assessment, the Company evaluated events and circumstances since the last impairment analysis, recent operating performance including reporting unit performance, changes in market capitalization, changes in the business climate, company-specific factors and trends in the banking industry. The results of the qualitative assessment indicated that it was more likely than not that the estimated fair value of each reporting unit exceeded its carrying amount as of the test date; therefore, the quantitative goodwill impairment tests were deemed unnecessary. The following table shows the gross carrying amount and accumulated amortization of other intangible assets as of December 31, 2022 and 2021, which primarily consist of core deposit intangible assets. The CDI is being amortized over its estimated useful life of approximately ten years utilizing an accelerated method. Aggregate other intangible assets amortization expense for the years ended December 31, 2022, 2021, and 2020 was $8.5 million, $9.5 million, and $10.6 million, respectively, and is included in other operating expense on the consolidated statements of income.
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
December 31, 2022 |  |  |  |  |
CDI | $ | 57,400 |  |  | $ | (35,484) |  |  | $ | 21,916 |
Other | 12,500 |  |  | (7,292) |  |  | 5,208 |
Total other intangible assets | $ | 69,900 |  |  | $ | (42,776) |  |  | $ | 27,124 |
December 31, 2021 |  |  |  |  |
CDI | 57,400 |  |  | (28,178) |  |  | $ | 29,222 |
Other | 12,500 |  |  | (6,126) |  |  | 6,374 |
Total other intangible assets | $ | 69,900 |  |  | $ | (34,304) |  |  | $ | 35,596 |
The estimated amortization expense of other intangible assets for the next five years is as follows:
(in thousands) | Amortization Expense
2023 | $ | 7,429 |
2024 | 6,366 |
2025 | 5,266 |
2026 | 4,195 |
2027 | 2,824 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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