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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Components of Goodwill, Intangible Assets and MSRs | The table below presents our goodwill, intangible assets and MSRs as of December 31, 2019 and 2018. Goodwill is presented separately, while intangible assets and MSRs are included in other assets on our consolidated balance sheets. Table 6.1: Components of Goodwill, Intangible Assets and MSRs
|  | December 31, 2019
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  | Remaining Amortization Period
Goodwill |  | $ | 14,653 |  |  | N/A |  |  | $ | 14,653 |  |  | N/A
Intangible assets: |  |  |  |  |  |  |  |
Purchased credit card relationship (“PCCR”) intangibles |  | 1,932 |  |  | $ | (1,864 | ) |  | 68 |  |  | 3.9 years
Other(1) |  | 246 |  |  | (140 | ) |  | 106 |  |  | 6.7 years
Total intangible assets |  | 2,178 |  |  | (2,004 | ) |  | 174 |  |  | 5.6 years
Total goodwill and intangible assets |  | $ | 16,831 |  |  | $ | (2,004 | ) |  | $ | 14,827 |  |  |
Commercial MSRs(2) |  | $ | 555 |  |  | $ | (255 | ) |  | $ | 300 |  |  |
|  | December 31, 2018
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  | Remaining Amortization Period
Goodwill |  | $ | 14,544 |  |  | N/A |  |  | $ | 14,544 |  |  | N/A
Intangible assets: |  |  |  |  |  |  |  |
PCCR intangibles |  | 2,102 |  |  | $ | (1,952 | ) |  | 150 |  |  | 3.7 years
Core deposit intangibles |  | 1,149 |  |  | (1,148 | ) |  | 1 |  |  | 0.2 years
Other(1) |  | 271 |  |  | (168 | ) |  | 103 |  |  | 7.1 years
Total intangible assets |  | 3,522 |  |  | (3,268 | ) |  | 254 |  |  | 5.0 years
Total goodwill and intangible assets |  | $ | 18,066 |  |  | $ | (3,268 | ) |  | $ | 14,798 |  |  |
Commercial MSRs(2) |  | $ | 459 |  |  | $ | (185 | ) |  | $ | 274 |  |  |
__________
(1) | Primarily consists of intangibles for sponsorship, customer and merchant relationships, partnership and other contract intangibles and trade name intangibles.
(2) Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets. We recorded $70 million and $59 million of amortization expense for the years ended December 31, 2019 and 2018, respectively.
Goodwill Attributable to Business Segments | The following table presents changes in the carrying amount of goodwill by each of our business segments for the years ended December 31, 2019, 2018 and 2017. We did not recognize any goodwill impairment during 2019, 2018 or 2017. Table 6.2: Goodwill by Business Segments
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking |  | Total
Balance as of December 31, 2016 |  | $ | 5,018 |  |  | $ | 4,600 |  |  | $ | 4,901 |  |  | $ | 14,519 |
Acquisitions |  | 6 |  |  | 0 |  |  | 0 |  |  | 6 |
Other adjustments(1) |  | 8 |  |  | 0 |  |  | 0 |  |  | 8 |
Balance as of December 31, 2017 |  | 5,032 |  |  | 4,600 |  |  | 4,901 |  |  | 14,533 |
Acquisitions |  | 33 |  |  | 0 |  |  | 0 |  |  | 33 |
Reductions in goodwill related to divestitures |  | 0 |  |  | 0 |  |  | (17 | ) |  | (17 | )
Other adjustments(1) |  | (5 | ) |  | 0 |  |  | 0 |  |  | (5 | )
Balance as of December 31, 2018 |  | 5,060 |  |  | 4,600 |  |  | 4,884 |  |  | 14,544 |
Acquisitions |  | 25 |  |  | 46 |  |  | 36 |  |  | 107 |
Reductions in goodwill related to divestitures |  | 0 |  |  | (1 | ) |  | 0 |  |  | (1 | )
Other adjustments(1) |  | 3 |  |  | 0 |  |  | 0 |  |  | 3 |
Balance as of December 31, 2019 |  | $ | 5,088 |  |  | $ | 4,645 |  |  | $ | 4,920 |  |  | $ | 14,653 |
__________
(1) | Represents foreign currency translation adjustments.
Amortization Expense | The following table summarizes the actual amortization expense recorded for the years ended December 31, 2019, 2018 and 2017 and the estimated future amortization expense for intangible assets as of December 31, 2019: Table 6.3: Amortization Expense
(Dollars in millions) |  | Amortization Expense
Actual for the year ended December 31, |  |
2017 |  | $ | 245 |
2018 |  | 174 |
2019 |  | 112 |
Estimated future amounts for the year ending December 31, |  |
2020 |  | 64 |
2021 |  | 32 |
2022 |  | 24 |
2023 |  | 17 |
2024 |  | 11 |
Thereafter |  | 18 |
Total estimated future amounts |  | $ | 166 |

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