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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2020 and 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
|  | December 31, 2020
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted Average Remaining Amortization Period
Goodwill |  | $ | 14,653 |  |  | N/A |  | $ | 14,653 |  |  | N/A
Intangible assets: |  |  |  |  |  |  |  |
Purchased credit card relationship (“PCCR”) intangibles |  | 148 |  |  | $ | (138) |  |  | 10 |  |  | 6.2 years
Other(1) |  | 248 |  |  | (168) |  |  | 80 |  |  | 7.3 years
Total intangible assets |  | 396 |  |  | (306) |  |  | 90 |  |  | 7.1 years
Total goodwill and intangible assets |  | $ | 15,049 |  |  | $ | (306) |  |  | $ | 14,743 |  |  |
Commercial MSRs(2) |  | $ | 542 |  |  | $ | (175) |  |  | $ | 367 |  |  |
|  | December 31, 2019
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted Average Remaining Amortization Period
Goodwill |  | $ | 14,653 |  |  | N/A |  | $ | 14,653 |  |  | N/A
Intangible assets: |  |  |  |  |  |  |  |
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 |  |  |
__________ (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. We recorded $69 million and $70 million of amortization expense for the years ended December 31, 2020 and 2019, respectively.
Goodwill by Business Segments | There were no changes in the carrying amount of goodwill by each of our business segments for the year ended December 31, 2020, and the following table presents such changes for the years ended December 31, 2019 and 2018.We did not recognize any goodwill impairment during 2020, 2019 or 2018. Table 6.2: Goodwill by Business Segments
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking |  | Total
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 |
Balance as of December 31, 2020 |  | $ | 5,088 |  |  | $ | 4,645 |  |  | $ | 4,920 |  |  | $ | 14,653 |
__________ (1)Represents foreign currency translation adjustments and measurement period adjustments on prior period acquisitions.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes the actual amortization expense recorded for the years ended December 31, 2020, 2019 and 2018 and the estimated future amortization expense for intangible assets as of December 31, 2020: Table 6.3: Amortization Expense
(Dollars in millions) |  | Amortization Expense
Actual for the year ended December 31, |  |
2018 |  | $ | 174 |
2019 |  | 112 |
2020 |  | 60 |
Estimated future amounts for the year ending December 31, |  |
2021 |  | 20 |
2022 |  | 16 |
2023 |  | 13 |
2024 |  | 10 |
2025 |  | 9 |
Thereafter |  | 14 |
Total estimated future amounts |  | $ | 82 |

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