Morgan Stanley 2010 Annual Report Download - page 193

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Amortizable intangible assets were as follows:
At December 31, 2010 At December 31, 2009
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
(dollars in millions)
Amortizable intangible assets:
Trademarks ...................................... $ 63 $ 13 $ 75 $ 10
Technology related ................................ 3 2 10 3
Customer relationships ............................. 4,059 415 4,061 159
Management contracts .............................. 347 75 463 38
Research ........................................ 176 56 176 21
Intangible lease asset ............................... 38 16 24 4
Other ........................................... 149 28 103 40
Total amortizable intangible assets ................ $4,835 $605 $4,912 $275
Amortization expense associated with intangible assets is estimated to be approximately $329 million per year
over the next five years.
10. Deposits.
Deposits were as follows:
At
December 31,
2010(1)
At
December 31,
2009(1)
(dollars in millions)
Savings and demand deposits ............................................ $59,856 $57,114
Time deposits(2) ...................................................... 3,956 5,101
Total ............................................................ $63,812 $62,215
(1) Total deposits insured by the Federal Deposit Insurance Corporation (“FDIC”) at December 31, 2010 and December 31, 2009 were $48
billion and $46 billion, respectively.
(2) Certain time deposit accounts are carried at fair value under the fair value option (see Note 4).
The weighted average interest rates of interest bearing deposits outstanding during 2010, 2009, fiscal 2008 and
the one month ended December 31, 2008 were 0.5%, 1.3%, 2.1% and 1.3%, respectively.
At December 31, 2010, interest bearing deposits maturing over the next five years were as follows (dollars in
millions):
Year
2011(1) ................................................................... $61,633
2012 ..................................................................... 591
2013 ..................................................................... 1,360
2014 ..................................................................... 198
2015 ..................................................................... —
(1) Amount includes approximately $60 billion of savings deposits, which have no stated maturity, and approximately $2 billion of time
deposits.
At December 31, 2010 and December 31, 2009, the Company had $805 million and $110 million, respectively,
of time deposits in denominations of $100,000 or more.
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