Morgan Stanley 2014 Annual Report Download - page 235

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
At December 31, 2014 At December 31, 2013
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
(dollars in millions)
Amortizable intangible assets:
Trademarks ...................................... $ 7 $ 6 $ 7 $ 3
Tradename ....................................... 280 21 280 12
Customer relationships ............................. 4,048 1,430 4,058 1,177
Management contracts .............................. 268 170 268 146
Other(1) ......................................... 374 197 192 189
Total amortizable intangible assets ................ $4,977 $1,824 $4,805 $1,527
(1) Amounts include intangible assets related to the acquisition of NaturEner on October 1, 2014.
Amortization expense associated with intangible assets is estimated to be approximately $294 million per year
over the next five years.
10. Deposits.
Deposits were as follows:
At
December 31,
2014(1)
At
December 31,
2013(1)
(dollars in millions)
Savings and demand deposits(2) ................................ $132,159 $109,908
Time deposits(3)(4) .......................................... 1,385 2,471
Total .................................................. $133,544 $112,379
(1) Total deposits subject to the Federal Deposit Insurance Corporation (the “FDIC”) insurance at December 31, 2014 and December 31,
2013 were $99 billion and $84 billion, respectively.
(2) There were no non-interest bearing deposits at December 31, 2014 and December 31, 2013.
(3) Certain time deposit accounts are carried at fair value under the fair value option (see Note 4).
(4) The amount of U.S. time deposits that met or exceeded the FDIC insurance limit was not significant at December 31, 2014 and
December 31, 2013.
The weighted average interest rates of interest bearing deposits outstanding during 2014, 2013 and 2012 were
0.1%, 0.2% and 0.3%, respectively.
Interest-bearing deposits maturing over the next five years total: $133,544 million in 2015, with no other deposits
maturing after 2015. The amount for 2015 includes $132,159 million of saving deposits, which have no stated
maturity, and $1,385 million of time deposits.
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