Note 7 – Intangible Assets
| The following is a summary of intangible assets, net of accumulated amortization, included in the Consolidated Statements of Condition: | ||||||
| Other | ||||||
| Intangible | ||||||
| (Dollars in thousands) | Goodwill | Assets (a) | ||||
| December 31, 2010 | $ | 162,180 | $ | 32,881 | ||
| Amortization expense (b) | - | (4,380) | ||||
| Impairment (c) (d) | (10,100) | - | ||||
| Divestitures (d) | (18,421) | (2,258) | ||||
| December 31, 2011 | $ | 133,659 | $ | 26,243 | ||
| Amortization expense | - | (3,910) | ||||
| Additions | 583 | 367 | ||||
| December 31, 2012 | $ | 134,242 | $ | 22,700 | ||
| Amortization expense | - | (3,912) | ||||
| Additions (d) | 7,701 | 3,200 | ||||
| December 31, 2013 | $ | 141,943 | $ | 21,988 | ||
The gross carrying amount of other intangible assets subject to amortization is $61.1 million on December 31, 2013, net of $39.1 million of accumulated amortization. Estimated aggregate amortization expense is expected to be $3.9 million, $3.7 million, $3.6 million, $3.3 million, and $3.2 million for the twelve-month periods of 2014, 2015, 2016, 2017, and 2018, respectively.
The agreement to sell FHI resulted in a pre-tax goodwill impairment of $10.1 million in first quarter 2011. In second quarter 2011, the remaining $16.4 million of goodwill was removed in conjunction with the divestiture. The sale of Msaver during third quarter 2011 resulted in the removal of $2.0 million of goodwill. During 2011, FHN also recognized $2.2 million and $.1 million of other intangible asset write-offs related to the FHI and Msaver divestitures, respectively.
| The following is a summary of gross goodwill and accumulated impairment losses and write-offs detailed by reportable segments included in the Consolidated Statements of Condition through December 31, 2013. Gross goodwill, accumulated impairments, and accumulated divestiture related write-offs were determined beginning on January 1, 2002, when a change in accounting requirements resulted in goodwill being assessed for impairment rather than being amortized. | ||||||||||||||||||
| Regional | Capital | |||||||||||||||||
| (Dollars in thousands) | Non-Strategic | Banking | Markets | Total | ||||||||||||||
| Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 97,421 | $ | 333,654 | ||||||||||
| Accumulated impairments | (104,023) | - | - | (104,023) | ||||||||||||||
| Accumulated divestiture related write-offs | (67,451) | - | - | (67,451) | ||||||||||||||
| December 31, 2010 | $ | 28,521 | $ | 36,238 | $ | 97,421 | $ | 162,180 | ||||||||||
| Additions | - | - | - | - | ||||||||||||||
| Impairments | (10,100) | - | - | (10,100) | ||||||||||||||
| Divestitures | (18,421) | - | - | (18,421) | ||||||||||||||
| Net change in goodwill during 2011 | (28,521) | - | - | (28,521) | ||||||||||||||
| Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 97,421 | $ | 333,654 | ||||||||||
| Accumulated impairments | (114,123) | - | - | (114,123) | ||||||||||||||
| Accumulated divestiture related write-offs | (85,872) | - | - | (85,872) | ||||||||||||||
| December 31, 2011 | $ | - | $ | 36,238 | $ | 97,421 | $ | 133,659 | ||||||||||
| Additions | - | - | 583 | 583 | ||||||||||||||
| Impairments | - | - | - | - | ||||||||||||||
| Divestitures | - | - | - | - | ||||||||||||||
| Net change in goodwill during 2012 | - | - | 583 | 583 | ||||||||||||||
| Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 98,004 | $ | 334,237 | ||||||||||
| Accumulated impairments | (114,123) | - | - | (114,123) | ||||||||||||||
| Accumulated divestiture related write-offs | (85,872) | - | - | (85,872) | ||||||||||||||
| December 31, 2012 | $ | - | $ | 36,238 | $ | 98,004 | $ | 134,242 | ||||||||||
| Additions | - | 7,701 | - | 7,701 | ||||||||||||||
| Impairments | - | - | - | - | ||||||||||||||
| Divestitures | - | - | - | - | ||||||||||||||
| Net change in goodwill during 2013 | - | 7,701 | - | 7,701 | ||||||||||||||
| Gross goodwill | $ | 199,995 | $ | 43,939 | $ | 98,004 | $ | 341,938 | ||||||||||
| Accumulated impairments | (114,123) | - | - | (114,123) | ||||||||||||||
| Accumulated divestiture related write-offs | (85,872) | - | - | (85,872) | ||||||||||||||
| December 31, 2013 | $ | - | $ | 43,939 | $ | 98,004 | $ | 141,943 | ||||||||||