Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Finite-lived Intangible Assets

At June 30, 2024, intangible assets consisted of the following:

	June 30, 2024						December 31, 2023
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Core deposit intangible	$	700	$	(172)	$	528	$	700	$	(113)	$	587
Other intangible assets	56		(27)		29		56		(18)		38
Total other intangible assets	$	756	$	(199)	$	557	$	756	$	(131)	$	625

As of June 30, 2024 the weighted average amortization period for core deposit intangibles and other intangible assets is 8.7 years and 3.6 years, respectively. Core deposit intangibles are amortized over the estimated useful life using the sum of years digits amortization method.

The estimated amortization expense of core deposit intangibles and other intangible assets for the next five years is as follows:

(in millions)	Amortization Expense
2024	$	65
2025	107
2026	94
2027	81
2028	68
Total	$	415