Goodwill and Intangible Assets (Tables)

12 Months Ended

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