SunTrust 2013 Annual Report Download - page 151

Notes to Consolidated Financial Statements, continued
135
Various Company facilities are leased under both capital and noncancelable operating leases with initial remaining terms in
excess of one year. Minimum payments, by year and in aggregate, at December 31, 2013, were as follows:
(Dollars in millions)
Operating
Leases
Capital
Leases
2014 $208 $2
2015 196 2
2016 190 2
2017 171 2
2018 91 2
Thereafter 354 3
Total minimum lease payments $1,210 13
Less: Amounts representing interest 3
Present value of net minimum lease payments $10
NOTE 9 – GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
Goodwill is required to be tested for impairment on an annual basis, which is performed by the Company during the third
quarter, or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit
below its carrying amount or indicate that it is more likely than not that a goodwill impairment exists when the carrying amount
of a reporting unit is zero or negative. The fair value of the reporting unit is determined by using discounted cash flow analyses
and, when applicable, guideline company information. When the reporting unit is not a legal entity with a stand-alone equity
balance, the carrying value of the reporting unit is determined using an equity allocation methodology that allocates the total
equity of the Company to each of its reporting units considering both regulatory risk-based capital and tangible assets relative
to tangible equity. See Note 1, "Significant Accounting Policies," for further information regarding the Company's goodwill
accounting policy. The Company performed a goodwill impairment analysis for all of its reporting units with goodwill balances
at September 30, 2013 and determined that the fair values were in excess of the respective carrying values by the following
percentages:
Consumer Banking and Private Wealth Management 56%
Wholesale Banking 14%
RidgeWorth Capital Management 141%
The Company monitored events and circumstances during the fourth quarter of 2013 and did not observe any factors that
would more likely than not reduce the fair value of a reporting unit below its respective carrying value. During the second
quarter of 2013, branch-managed business banking clients were transferred from Wholesale Banking to Consumer Banking
and Private Wealth Management, resulting in the reallocation of $300 million in goodwill. Additionally, during the first quarter
of 2012, the Company reorganized its segment reporting structure and goodwill reporting units. For additional information
on the Company's segment reporting structure, see Note 20, "Business Segment Reporting."