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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Components of Goodwill, Intangible Assets and MSRs
The table below presents our goodwill, other intangible assets and MSRs as of December 31, 2025 and 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
December 31, 2025
(Dollars in millions)Carrying Amount of AssetsAccumulated AmortizationNet Carrying AmountWeighted Average Remaining
Amortization
Period
Goodwill$28,509 N/A$28,509 N/A
     Other intangible assets (definite lived):
     Purchased credit card relationships(1)
10,469 $(1,274)9,195 10.3 years
     Network and financial partner relationships(2)
1,500 (84)1,416 10.6 years
     Core deposit(2)
1,100 (125)975 9.4 years
     Other(3)
121 (107)14 4.8 years
     Total other intangible assets (definite lived):
13,190 (1,590)11,600 10.3 years
     Other intangible assets (indefinite lived):
     Discover Network(2)
2,700 N/A2,700 
     Brand / Trade names(2)
2,270 N/A2,270 
     Other(4)
8 N/A8 
     Total other intangible assets (indefinite lived):
4,978 N/A4,978 
Total other intangible assets18,168 (1,590)16,578 
Total goodwill and other intangible assets$46,677 $(1,590)$45,087 
Commercial MSRs(5)
$646 $(343)$303 
December 31, 2024
(Dollars in millions)Carrying Amount of AssetsAccumulated AmortizationNet Carrying AmountWeighted Average Remaining
Amortization
Period
Goodwill$15,059 N/A$15,059 N/A
     Other intangible assets (definite lived):
     Purchased credit card relationships
369 $(164)205 6.1 years
     Other(3)
126 (106)20 5.1 years
     Total other intangible assets (definite lived)
495 (270)225 6.0 years
     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 $10.1 billion of PCCRs 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 under which we recorded $80 million and $77 million of amortization expense for the years ended December 31, 2025 and 2024, respectively.
Intangible Assets
In connection with the Transaction, we recorded intangible assets that include PCCRs, network and financial partner relationships, core deposit, Discover Network and Brand/Trade names. PCCR intangible reflects the value of future activity from existing credit card relationships over their expected lives. Network and financial partner relationships intangible represents the value associated with economics generated by the existing third-party partners. Core deposit intangible represents the economics associated with the favorable funding spread between the acquired core deposit base and alternative sources of funding. Discover Network represents the value associated with the economics generated by the proprietary payment network, including any expected synergies. Brand/Trade names represent the economic benefits of the ability to generate revenue based on the value of the trade names, which include the Discover, Diners Club and PULSE brands. See “Note 2—Business Combinations and Discontinued Operations” for additional information. Other intangible assets were recorded as a result of acquisitions other than the Transaction. There were no impairments of intangible assets in 2025, 2024 and 2023, respectively.
Intangible assets are typically amortized over their respective estimated useful lives on either an accelerated or straight-line basis. The following table summarizes the actual amortization expense recorded for the year ended December 31, 2025, 2024 and 2023, respectively, and the estimated future amortization expense for intangible assets as of December 31, 2025 for the next five fiscal years and thereafter:
Table 7.2: Amortization Expense
(Dollars in millions)Amortization Expense
Actual for the year ended December 31,
2023$82 
202477 
20251,326 
Estimated future amounts for the year ending December 31,
20261,962 
20271,779 
20281,595 
20291,412 
20301,230 
Thereafter3,622 
Total estimated future amounts$11,600 
Goodwill by Business Segments
The following table presents changes in the carrying amount of goodwill by each of our business segments for the years ended December 31, 2025, 2024 and 2023. We did not recognize any goodwill impairment during 2025, 2024 and 2023, respectively.
Table 7.3: Goodwill by Business Segments
(Dollars in millions)Credit CardConsumer BankingCommercial BankingTotal
Balance as of December 31, 2022$5,078 $4,645 $5,054 $14,777 
Acquisitions273 0 0 273 
Other adjustments(1)
15 0 0 15 
Balance as of December 31, 20235,366 4,645 5,054 15,065 
Other adjustments(1)
(6)0 0 (6)
Balance as of December 31, 20245,360 4,645 5,054 15,059 
Acquisitions(2)
6,529 6,895 0 13,424 
Other adjustments(1)
26 0 0 26 
Balance as of December 31, 2025$11,915 $11,540 $5,054 $28,509 
__________
(1)Represents foreign currency translation adjustments.
(2)The goodwill associated with the Transaction was allocated to the Credit Card and Consumer Banking segments as of December 31, 2025. See “Note 2—Business Combinations and Discontinued Operations” for further details.