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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2021
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 September 30, 2021 and December 31, 2020. 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
|  | September 30, 2021 |  |
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  |
Goodwill |  | $ | 14,652 |  |  | N/A |  | $ | 14,652 |  |  |
Intangible assets: |  |  |  |  |  |  |  |
Purchased credit card relationship (“PCCR”) intangibles |  | 29 |  |  | $ | (8) |  |  | 21 |  |  |
Other(1) |  | 183 |  |  | (116) |  |  | 67 |  |  |
Total intangible assets |  | 212 |  |  | (124) |  |  | 88 |  |  |
Total goodwill and intangible assets |  | $ | 14,864 |  |  | $ | (124) |  |  | $ | 14,740 |  |  |
Commercial MSRs(2) |  | $ | 609 |  |  | $ | (199) |  |  | $ | 410 |  |  |
|  | December 31, 2020 |  |
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  |
Goodwill |  | $ | 14,653 |  |  | N/A |  | $ | 14,653 |  |  |
Intangible assets: |  |  |  |  |  |  |  |
PCCR intangibles |  | 148 |  |  | $ | (138) |  |  | 10 |  |  |
Other(1) |  | 248 |  |  | (168) |  |  | 80 |  |  |
Total intangible assets |  | 396 |  |  | (306) |  |  | 90 |  |  |
Total goodwill and intangible assets |  | $ | 15,049 |  |  | $ | (306) |  |  | $ | 14,743 |  |  |
Commercial MSRs(2) |  | $ | 542 |  |  | $ | (175) |  |  | $ | 367 |  |  |
__________ (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 $5 million and $16 million for the three and nine months ended September 30, 2021, respectively, and $14 million and $52 million for the three and nine months ended September 30, 2020, respectively. Goodwill The following table presents changes in carrying amount of goodwill by each of our business segments as of September 30, 2021 and December 31, 2020. Table 6.2: Goodwill by Business Segments
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking |  | Total
Balance as of December 31, 2020 |  | $ | 5,088 |  |  | $ | 4,645 |  |  | $ | 4,920 |  |  | $ | 14,653 |
Other adjustments(1) |  | (1) |  |  | 0 |  |  | 0 |  |  | (1) |
Balance as of September 30, 2021 |  | $ | 5,087 |  |  | $ | 4,645 |  |  | $ | 4,920 |  |  | $ | 14,652 |
__________ (1)Represents foreign currency translation adjustments.

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