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Intangible Assets

9 Months Ended

Sep. 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 nine months ended September 30, 2023.

As a result of the Signature Transaction, the Company recorded $464 million of core deposit intangible and other intangible assets that are amortizable.

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


	September 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	$	(81)	$	619	$	250	$	(4)	$	246
Other intangible assets	56		(14)		42		42		(1)		41
Total other intangible assets	$	756	$	(95)	$	661	$	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	$	36
2024	133
2025	107
2026	94
2027	81
Total	$	451