First Horizon (NYSE:FHN) Intangible Assets

: $1,757 Mil (As of Sep. 2022)

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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. First Horizon's intangible assets for the quarter that ended in Sep. 2022 was $1,757 Mil.

First Horizon Intangible Assets Historical Data

The historical data trend for First Horizon's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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First Horizon Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Intangible Assets

1,587.82

1,564.00

1,865.00

1,809.00

1,744.00

First Horizon Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
Intangible Assets																1,809.00	1,796.00	1,783.00	1,757.00	1,744.00

First Horizon Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

First Horizon (NYSE:FHN) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

First Horizon Intangible Assets Related Terms

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First Horizon (NYSE:FHN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Horizon Corp (NYSE:FHN) » Definitions » Intangible Assets

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Traded in Other Exchanges

FHNpF.PFD:USA FHNPB.PFD:USA FHNPC.PFD:USA FHNPD.PFD:USA FHNpE.PFD:USA FHNpA.PFD:USA FT2:Germany

Address

165 Madison Avenue, Memphis, TN, USA, 38103

Website

https://www.firsthorizon.com

First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The regional bank is responsible for roughly 65% of its revenue, while capital markets make a 25% contribution. The remainder is split between the firm's non-strategic (wind-down) and corporate operations. First Horizon concentrates on offering a variety of banking products mainly in its home state, where it has the second- largest deposit franchise with a 13% deposit market share.

Executives

Dmuchowski Hope	officer: Sr. EVP & CFO	165 MADISON AVE MEMPHIS TN 38103
Casbon John N	director	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Locascio Tammy	officer: Sr. EVP, Chief HR Officer	165 MADISON AVE MEMPHIS TN 38103
Kemp Sr James Michael	director	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Maples Ricky E	director	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Akins Terry Lawson	officer: Sr. EVP, Chief Risk Officer	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Ardoin Elizabeth A	officer: SEVP, Chief Communications Ofc	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Sugranes Rosa	director	2975 N.W. 77TH AVE DORAL FL 33132
Restel Anthony J	officer: SEVP Chief Operating Officer	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Shea E Stewart Iii	director	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Fenstermaker William H	director	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Byrd Daryl G	director, officer: Executive Chairman of Board	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Barton Harry V Jr	director	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Brown Michael J	officer: President - Regional Banking	200 WEST CONGRESS STREET LAFAYETTE LA 70501
Davidson Wendy P	director	2210 WEST OAKLAWN DRIVE SPRINGDALE AR 72762