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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
NOTE 6—GOODWILL AND INTANGIBLE ASSETS
The table below presents our goodwill, intangible assets and MSRs as of June 30, 2020 and December 31, 2019. 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
 
 
June 30, 2020
(Dollars in millions)
 
Carrying Amount of Assets
 
Accumulated Amortization
 
Net Carrying Amount
Goodwill
 
$
14,645

 
N/A

 
$
14,645

Intangible assets:
 
 
 
 
 
 
Purchased credit card relationship (“PCCR”) intangibles
 
1,932

 
$
(1,887
)
 
45

Other(1)
 
249

 
(154
)
 
95

Total intangible assets
 
2,181

 
(2,041
)
 
140

Total goodwill and intangible assets
 
$
16,826

 
$
(2,041
)
 
$
14,785

Commercial MSRs(2)
 
$
611

 
$
(289
)
 
$
322

 
 
 
 
 
 
 
 
 
December 31, 2019
(Dollars in millions)
 
Carrying Amount of Assets
 
Accumulated Amortization
 
Net Carrying Amount
Goodwill
 
$
14,653

 
N/A

 
$
14,653

Intangible assets:
 
 
 
 
 
 
PCCR intangibles
 
1,932

 
$
(1,864
)
 
68

Other(1)
 
246

 
(140
)
 
106

Total intangible assets
 
2,178

 
(2,004
)
 
174

Total goodwill and intangible assets
 
$
16,831

 
$
(2,004
)
 
$
14,827

Commercial MSRs(2)
 
$
555

 
$
(255
)
 
$
300

__________
(1) 
Primarily consists of intangibles for sponsorship, customer and merchant relationships, partnership, trade name and other contract intangibles.
(2) 
Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets.
Amortization expense for amortizable intangible assets, which is presented separately in our consolidated statements of income, totaled $16 million and $38 million for the three and six months ended June 30, 2020, respectively, and $29 million and $59 million for the three and six months ended June 30, 2019, respectively.
Goodwill
The following table presents changes in the carrying amount of goodwill by each of our business segments as of June 30, 2020 and December 31, 2019.
Table 6.2: Goodwill by Business Segments
(Dollars in millions)
 
Credit
Card
 
Consumer
Banking
 
Commercial Banking
 
Total
Balance as of December 31, 2019
 
$
5,088

 
$
4,645

 
$
4,920

 
$
14,653

Other adjustments(1)
 
(8
)
 
0

 
0

 
(8
)
Balance as of June 30, 2020
 
$
5,080

 
$
4,645

 
$
4,920

 
$
14,645

__________
(1) 
Represents foreign currency translation adjustments and measurement period adjustments on prior period acquisitions.