7. Goodwill and Other Intangible Assets
Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. No segments were significantly changed and no reallocation of goodwill occurred in either 2013 or 2012.
A rollforward of goodwill by business segment for the years ended December 31, 2013 and 2012, is presented in the table below:
| Retail & | Regional & | |||||||||||||||||
| Business | Commercial | Treasury/ | Huntington | |||||||||||||||
| (dollar amounts in thousands) | Banking | Banking | AFCRE | WGH | Other | Consolidated | ||||||||||||
| Balance, January 1, 2012 | $ | 286,824 | $ | 16,169 | $ | --- | $ | 98,951 | $ | 42,324 | $ | 444,268 | ||||||
| Adjustments / Reallocation of goodwill | --- | --- | --- | --- | --- | --- | ||||||||||||
| Balance, December 31, 2012 | 286,824 | 16,169 | --- | 98,951 | 42,324 | 444,268 | ||||||||||||
| Adjustments / Reallocation of goodwill | --- | --- | --- | --- | --- | --- | ||||||||||||
| Balance, December 31, 2013 | $ | 286,824 | $ | 16,169 | $ | --- | $ | 98,951 | $ | 42,324 | $ | 444,268 | ||||||
Goodwill is not amortized but is evaluated for impairment on an annual basis as of October 1st each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. No impairment was recorded in 2013, 2012 or 2011.
At December 31, 2013 and 2012, Huntington's other intangible assets consisted of the following:
| Gross | Net | |||||||
| Carrying | Accumulated | Carrying | ||||||
| (dollar amounts in thousands) | Amount | Amortization | Value | |||||
| December 31, 2013 | ||||||||
| Core deposit intangible | $ | 380,249 | $ | (335,552) | $ | 44,697 | ||
| Customer relationship | 106,974 | (58,675) | 48,299 | |||||
| Other | 25,164 | (24,967) | 197 | |||||
| Total other intangible assets | $ | 512,387 | $ | (419,194) | $ | 93,193 | ||
| December 31, 2012 | ||||||||
| Core deposit intangible | $ | 380,249 | $ | (302,003) | $ | 78,246 | ||
| Customer relationship | 104,574 | (50,925) | 53,649 | |||||
| Other | 25,164 | (24,902) | 262 | |||||
| Total other intangible assets | $ | 509,987 | $ | (377,830) | $ | 132,157 | ||
| The estimated amortization expense of other intangible assets for the next five years is as follows: | |||
| Amortization | |||
| (dollar amounts in thousands) | Expense | ||
| 2014 | $ | 36,711 | |
| 2015 | 20,550 | ||
| 2016 | 7,336 | ||
| 2017 | 6,854 | ||
| 2018 | 5,983 | ||