Goodwill and Intangible Assets (Tables)

12 Months Ended

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

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⁽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

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⁽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