Citibank 2015 Annual Report Download - page 232
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214
Intangible assets amortization expense was $625 million, $756 million
and $808 million for 2015, 2014 and 2013, respectively. Intangible assets
amortization expense is estimated to be $528 million in 2016, $840 million
in 2017, $348 million in 2018, $334 million in 2019 and $141 million
in 2020.
The changes in intangible assets during the twelve months ended December 31, 2015 were as follows:
In millions of dollars
Net carrying
amount at
December 31,
2014
Acquisitions/
divestitures Amortization Impairments
FX
translation
and
other
Net carrying
amount at
December 31,
2015
Purchased credit card relationships $1,332 $ — $(261) $ — $ 15 $1,086
Core deposit intangibles 132 — (41) — (10) 81
Other customer relationships 248 — (24) — (5) 219
Present value of future profits 79 (68) (4) — (1) 6
Indefinite-lived intangible assets 290 — — (17) (39) 234
Other 2,485 (108) (295) (5) 18 2,095
Intangible assets (excluding MSRs) $4,566 $(176) $(625) $ (22) $ (22) $3,721
Mortgage servicing rights (MSRs) (1) 1,845 1,781
Total intangible assets $6,411 $5,502
(1) For additional information on Citi’s MSRs, including the rollforward from 2014 to 2015, see Note 22 to the Consolidated Financial Statements.