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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 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 September 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
|  | September 30, 2025
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net Carrying Amount |  |
Goodwill |  | $ | 28,863 |  |  | N/A |  | $ | 28,863 |  |  |
Other intangible assets (definite lived): |  |  |  |  |  |  |  |
Purchased credit card relationships(1) |  | 10,469 |  |  | $ | (839) |  |  | 9,630 |  |  |
Network and financial partner relationships(2) |  | 1,500 |  |  | (50) |  |  | 1,450 |  |  |
Core deposit(2) |  | 1,040 |  |  | (71) |  |  | 969 |  |  |
Other(3) |  | 121 |  |  | (106) |  |  | 15 |  |  |
Total other intangible assets (definite lived): |  | 13,130 |  |  | (1,066) |  |  | 12,064 |  |  |
Other intangible assets (indefinite lived): |  |  |  |  |  |  |  |
Discover Network(2) |  | 2,700 |  |  | N/A |  | 2,700 |  |  |
Brand / Trade names(2) |  | 2,270 |  |  | N/A |  | 2,270 |  |  |
Other(4) |  | 8 |  |  | N/A |  | 8 |  |  |
Total other intangible assets (indefinite lived): |  | 4,978 |  |  | N/A |  | 4,978 |  |  |
Total other intangible assets |  | 18,108 |  |  | (1,066) |  |  | 17,042 |  |  |
Total goodwill and other intangible assets |  | $ | 46,971 |  |  | $ | (1,066) |  |  | $ | 45,905 |  |  |
Commercial MSRs(5) |  | $ | 645 |  |  | $ | (336) |  |  | $ | 309 |  |  |
|  | December 31, 2024
(Dollars in millions) |  | Carrying Amount of Assets |  | Accumulated Amortization |  | Net 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/A |  | 8 |  |  |
Total other intangible assets (indefinite lived) |  | 8 |  |  | N/A |  | 8 |  |  |
Total other intangible assets |  | 503 |  |  | (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 $10.1 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 $514 million and $801 million for the three and nine months ended September 30, 2025, respectively. The following table summarizes the estimated future amortization expense for intangible assets as of September 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 October 1, 2025 and December 31, 2025 |  | $ | 518 |
Estimated future amounts for the year ending December 31, |  |
2026 |  | 1,952 |
2027 |  | 1,769 |
2028 |  | 1,587 |
2029 |  | 1,405 |
2030 |  | 1,224 |
Thereafter |  | 3,609 |
Total estimated future amounts |  | $ | 12,064 |
Goodwill The following table presents changes in the carrying amount of goodwill by each of our business segments as of September 30, 2025 and December 31, 2024. Table 7.3: Goodwill by Business Segments
(Dollars in millions) |  | Credit Card |  | Consumer Banking |  | Commercial Banking |  | Other(1) |  | Total
Balance as of December 31, 2024 |  | $ | 5,360 |  |  | $ | 4,645 |  |  | $ | 5,054 |  |  | $ | 0 |  |  | $ | 15,059 |
Acquisitions(1) |  | 6,755 |  |  | 7,023 |  |  | 0 |  |  | 0 |  |  | 13,778 |
Other adjustments(2) |  | 26 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 26 |
Balance as of September 30, 2025 |  | $ | 12,141 |  |  | $ | 11,668 |  |  | $ | 5,054 |  |  | $ | 0 |  |  | $ | 28,863 |
__________ (1)The goodwill associated with the Transaction has been preliminarily allocated to the Credit Card and Consumer Banking segments as of September 30, 2025. See “Note 2—Business Combinations and Discontinued Operations” for further details. (2)Represents foreign currency translation adjustments.

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