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Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2025
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 June 30, 2025 and December 31, 2024. Goodwill and other intangible assets are presented separately, while MSRs are included in other assets on our consolidated balance sheets.
Table 7.1: Components of Goodwill, Other Intangible Assets and MSRs
June 30, 2025
(Dollars in millions)Carrying Amount of AssetsAccumulated AmortizationNet Carrying Amount
Goodwill$28,335 N/A$28,335 
     Other intangible assets (definite lived):
     Purchased credit card relationships(1)
10,669 $(408)10,261 
     Network and financial partner relationships(2)
1,500 (16)1,484 
     Core deposit(2)
1,040 (24)1,016 
     Other(3)
121 (103)18 
     Total other intangible assets (definite lived):
13,330 (551)12,779 
     Other intangible assets (indefinite lived):
     Discover Network(2)
3,100 N/A3,100 
     Brand / Trade names(2)
2,270 N/A2,270 
     Other(4)
8 N/A8 
     Total other intangible assets (indefinite lived):
5,378 N/A5,378 
Total other intangible assets18,708 (551)18,157 
Total goodwill and other intangible assets$47,043 $(551)$46,492 
Commercial MSRs(5)
$649 $(326)$323 
December 31, 2024
(Dollars in millions)Carrying Amount of AssetsAccumulated AmortizationNet Carrying Amount
Goodwill$15,059 N/A$15,059 
     Other intangible assets (definite lived):
     Purchased credit card relationships
369 $(164)205 
     Other(3)
126 (106)20 
     Total other intangible assets (definite lived)
495 (270)225 
     Other intangible assets (indefinite lived):
     Other(4)
8 N/A8 
     Total other intangible assets (indefinite lived)
8 N/A8 
Total other intangible assets503 (270)233 
Total goodwill and other intangible assets$15,562 $(270)$15,292 
Commercial MSRs(5)
$653 $(309)$344 
__________
(1)Includes a carrying value of $10.3 billion of purchased credit card relationships related to the Transaction.
(2)Intangible assets recognized as part of the Transaction.
(3)Primarily consists of intangibles for customer, sponsor and merchant relationships.
(4)Consists of license and domain names.
(5)Commercial MSRs are accounted for under the amortization method.
Amortization expense for intangible assets, which is presented separately in our consolidated statements of income, totaled $271 million and $287 million for the three and six months ended June 30, 2025, respectively. The following table summarizes the estimated future amortization expense for intangible assets as of June 30, 2025 for the next five fiscal years and thereafter:
Table 7.2: Amortization Expense
(Dollars in millions)Amortization Expense
Estimated future amounts for the period between July 1, 2025 and December 31, 2025$1,053 
20261,984 
20271,798 
20281,612 
20291,428 
20301,243 
Thereafter3,661 
Total estimated future amounts$12,779 
Goodwill
The following table presents changes in the carrying amount of goodwill by each of our business segments as of June 30, 2025 and December 31, 2024.
Table 7.3: Goodwill by Business Segments
(Dollars in millions)Credit CardConsumer BankingCommercial Banking
Other(1)
Total
Balance as of December 31, 2024$5,360 $4,645 $5,054 $0 $15,059 
Acquisitions(1)
0 0 0 13,242 13,242 
Reductions in goodwill related to divestitures0 0 0 0 0 
Other adjustments(2)
34 0 0 0 34 
Balance as of June 30, 2025$5,394 $4,645 $5,054 $13,242 $28,335 
__________
(1)The goodwill associated with the Transaction in the second quarter of 2025 is included in the Other category as of June 30, 2025 and will be reallocated to the appropriate business segments prior to the annual goodwill impairment test, which will be performed as of October 1, 2025. See “Note 2—Business Combinations and Discontinued Operations” for further details.
(2)Primarily represents foreign currency translation adjustments.