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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets |
NOTE 7—GOODWILL AND OTHER INTANGIBLE ASSETS
The table below presents our goodwill, other intangible assets and MSRs as of March 31, 2024 and December 31, 2023. Goodwill is presented separately, while other intangible assets and MSRs are included in other assets on our consolidated balance sheets. Table 7.1: Components of Goodwill, Other Intangible Assets and MSRs
|  | March 31, 2024
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  |
Goodwill |  | $ | 15,062 |  |  | N/A |  | $ | 15,062 |  |  |
Other intangible assets: |  |  |  |  |  |  |  |
Purchased credit card relationship (“PCCR”) intangibles |  | 369 |  |  | $ | (113) |  |  | 256 |  |  |
Other(1) |  | 134 |  |  | (100) |  |  | 34 |  |  |
Total other intangible assets |  | 503 |  |  | (213) |  |  | 290 |  |  |
Total goodwill and other intangible assets |  | $ | 15,565 |  |  | $ | (213) |  |  | $ | 15,352 |  |  |
Commercial MSRs(2) |  | $ | 654 |  |  | $ | (277) |  |  | $ | 377 |  |  |
|  | December 31, 2023
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  |
Goodwill |  | $ | 15,065 |  |  | N/A |  | $ | 15,065 |  |  |
Other intangible assets: |  |  |  |  |  |  |  |
Purchased credit card relationship (“PCCR”) intangibles |  | 369 |  |  | $ | (96) |  |  | 273 |  |  |
Other(1) |  | 171 |  |  | (134) |  |  | 37 |  |  |
Total other intangible assets |  | 540 |  |  | (230) |  |  | 310 |  |  |
Total goodwill and other intangible assets |  | $ | 15,605 |  |  | $ | (230) |  |  | $ | 15,375 |  |  |
Commercial MSRs(2) |  | $ | 653 |  |  | $ | (263) |  |  | $ | 390 |  |  |
__________ (1)Primarily consists of intangibles for sponsorship, customer and merchant relationships, domain names and licenses. (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 $19 million and $14 million for the three months ended March 31, 2024 and 2023, respectively. Goodwill The following table presents changes in the carrying amount of goodwill by each of our business segments as of March 31, 2024 and December 31, 2023. Table 7.2: Goodwill by Business Segments
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking |  | Total
Balance as of December 31, 2023 |  | $ | 5,366 |  |  | $ | 4,645 |  |  | $ | 5,054 |  |  | $ | 15,065 |
Other adjustments(1) |  | (3) |  |  | 0 |  |  | 0 |  |  | (3) |
Balance as of March 31, 2024 |  | $ | 5,363 |  |  | $ | 4,645 |  |  | $ | 5,054 |  |  | $ | 15,062 |
__________ (1)Primarily represents foreign currency translation adjustments.

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