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Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill is presumed to have an indefinite useful life and is tested for impairment at the reporting unit level, at least once a year. There was no change in goodwill during the six months ended June 30, 2023.

As a result of the Signature Transaction, the Company recorded $462 million of core deposit intangible and other intangible assets that are amortizable.

At June 30, 2023, intangible assets consisted of the following:


	June 30, 2023						December 31, 2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Core deposit intangible	$	700	$	(50)	$	650	$	250	$	(4)	$	246
Other intangible assets	56		(9)		47		42		(1)		41
Total other intangible assets	$	756	$	(59)	$	697	$	292	$	(5)	$	287

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


(in millions)	Amortization Expense
2023	$	49
2024	108
2025	88
2026	79
2027	71
Total	$	395