Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of reconciliation of changes in goodwill

Changes in the carrying amount of goodwill acquired through business combinations by reportable business segment are as follows:


	Canada			U.S.			Asia			Asset Management			Corporate			Total
Balance, January 1, 2019		$	2,607		$	1,138		$	705		$	775		$	187	$	5,412
Acquisitions		—			—			—			537			—		537
Foreign exchange rate movements		—			(55)			(29)			(31)			(2)		(117)
Balance, December 31, 2019		$	2,607		$	1,083		$	676		$	1,281		$	185	$	5,832
Acquisitions (Note 3)		—			—			—			278			—		278
Foreign exchange rate movements		—			(21)			(11)			(8)			2		(38)
Balance, December 31, 2020		$	2,607		$	1,062		$	665		$	1,551		$	187	$	6,072

The carrying amounts of goodwill allocated to our CGUs or groups of CGUs are as follows:


As at December 31,	2020			2019
Canada(1)		$	2,607		$	2,607



U.S. Employee benefits group		1,062			1,083
Asia		665			676
Asset Management
MFS		486			494
SLC Management - excluding InfraRed		777			787
InfraRed		288			—
Corporate
UK		187			185
Total		$	6,072		$	5,832

(1) Reflects a change in presentation to combine CGUs in Canada as one group effective January 1, 2020. We have updated the prior period to reflect this change in presentation.

Disclosure of reconciliation of changes in and components of intangible assets

Changes in intangible assets are as follows:


	Finite life
	Internally generated software			Other		Indefinite life		Total
Gross carrying amount
Balance, January 1, 2019		$	722	$	1,266	$	673	$	2,661
Additions		151		115		—		266
Acquisitions		—		238		—		238

Foreign exchange rate movements		(16)		(28)		(27)		(71)
Balance, December 31, 2019		$	857	$	1,591	$	646	$	3,094
Additions		230		—		—		230
Acquisitions		—		63		295		358
Disposals		(4)		(5)		—		(9)
Foreign exchange rate movements		(13)		(15)		(3)		(31)
Balance, December 31, 2020		$	1,070	$	1,634	$	938	$	3,642
Accumulated amortization and impairment losses
Balance, January 1, 2019		$	(417)	$	(461)	$	(4)	$	(882)
Amortization charge for the year		(73)		(64)		—		(137)

Impairment of intangible assets		(13)		—		(2)		(15)
Foreign exchange rate movements		15		8		—		23
Balance, December 31, 2019		$	(488)	$	(517)	$	(6)	$	(1,011)
Amortization charge for the year		(78)		(78)		—		(156)

Impairment of intangible assets		(2)		—		(9)		(11)
Foreign exchange rate movements		7		5		1		13
Balance, December 31, 2020		$	(561)	$	(590)	$	(14)	$	(1,165)
Net carrying amount, end of period:
As at December 31, 2019		$	369	$	1,074	$	640	$	2,083
As at December 31, 2020		$	509	$	1,044	$	924	$	2,477

The components of the intangible assets are as follows:


As at December 31,	2020			2019
Finite life intangible assets:
Distribution, sales potential of field force		$	316		$	339
Client relationships and asset administration contracts		728			735
Internally generated software		509			369
Total finite life intangible assets		1,553			1,443
Indefinite life intangible assets:
Fund management contracts(1)		924			640
Total indefinite life intangible assets		924			640
Total intangible assets		$	2,477		$	2,083

(1) Fund management contracts are attributable to Asset Management, where its competitive position in, and the stability of, its markets support their classification as indefinite life intangible assets.