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The calculation of Key’s net income and earnings per common share, excluding goodwill amortization, is presented below. 

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a Goodwill amortization for 2001 excludes a $150 million write-down (equivalent to $.35 per both basic and diluted common share) associated with KeyGLYPH<213>s decision to downsize the automobile GLYPH<222>nance business. 

The following table shows the gross carrying amount and the accumulated amortization of intangible assets that are subject to amortization. 

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During 2003, other intangible assets with a fair value of $14 million were acquired in conjunction with the purchase of NewBridge Partners and are being amortized using either an accelerated or straight-line method 

Changes in the carrying amount of goodwill by major business group are as follows: 

over periods ranging from 3 to 10 years. Additional information pertaining to this acquisition is discussed in Note 3 (“Acquisitions and Divestiture”) on page 57. 

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Key’s annual impairment testing of goodwill was performed at October 1, 2003, and was completed during the fourth quarter. The test determined that no impairment of Key’s goodwill existed at that date. 

Additional information pertaining to the accounting for intangible assets is included in Note 1 (“Summary of Significant Accounting Policies”) under the heading “Goodwill and Other Intangible Assets” on page 53. 

