SunTrust 2013 Annual Report Download - page 152
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Notes to Consolidated Financial Statements, continued
136
The changes in the carrying amount of goodwill by reportable segment for the years ended December 31 are as follows:
(Dollars in millions)
Retail
Banking
Diversified
Commercial
Banking CIB W&IM
Consumer
Banking and
Private
Wealth
Management
Wholesale
Banking Total
Balance, January 1, 2013 $— $— $— $— $3,962 $2,407 $6,369
Intersegment transfers — — — — 300 (300) —
Balance, December 31, 2013 $— $— $— $— $4,262 $2,107 $6,369
Balance, January 1, 2012 $4,854 $928 $180 $382 $— $— $6,344
Intersegment transfers (4,854) (928) (180) (382) 3,930 2,414 —
Acquisition of FirstAgain, LLC — — — — 32 — 32
Impairment of GenSpring — — — — — (7) (7)
Balance, December 31, 2012 $— $— $— $— $3,962 $2,407 $6,369
Other Intangible Assets
Changes in the carrying amounts of other intangible assets for the years ended December 31 are as follows:
(Dollars in millions)
Core Deposit
Intangibles
MSRs -
Fair Value Other Total
Balance, January 1, 2013 $17 $899 $40 $956
Amortization (13) — (10) (23)
MSRs originated — 352 — 352
Changes in fair value:
Due to changes in inputs and assumptions 1— 302 — 302
Other changes in fair value 2— (252) — (252)
Sale of MSRs —(1)—(1)
Balance, December 31, 2013 $4 $1,300 $30 $1,334
Balance, January 1, 2012 $38 $921 $58 $1,017
Amortization (21) — (18) (39)
MSRs originated — 336 — 336
Changes in fair value:
Due to changes in inputs and assumptions 1— (112) — (112)
Other changes in fair value 2— (241) — (241)
Sale of MSRs — (5) — (5)
Balance, December 31, 2012 $17 $899 $40 $956
1 Primarily reflects changes in discount rates and prepayment speed assumptions, due to changes in interest rates.
2 Represents changes due to the collection of expected cash flows, net of accretion, due to the passage of time.