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Goodwill and intangible assets | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and intangible assets | Goodwill and intangible assets Goodwill The tables below provide a breakdown of goodwill by business segment.
Goodwill by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Consolidated
Balance at Dec. 31, 2024 |  |  |  |
Goodwill | $ | 7,331 |  | $ | 1,475 |  | $ | 8,472 |  | $ | 17,278 |
Accumulated impairment losses | — |  | — |  | (680) |  | (680) |
Net goodwill | $ | 7,331 |  | $ | 1,475 |  | $ | 7,792 |  | $ | 16,598 |
Dispositions | (18) |  | — |  | — |  | (18) |
Foreign currency translation | 94 |  | 6 |  | 106 |  | 206 |
Other | (13) |  | — |  | — |  | (13) |
Balance at Sept. 30, 2025 |  |  |  |
Goodwill | $ | 7,394 |  | $ | 1,481 |  | $ | 8,578 |  | $ | 17,453 |
Accumulated impairment losses | — |  | — |  | (680) |  | (680) |
Net goodwill | $ | 7,394 |  | $ | 1,481 |  | $ | 7,898 |  | $ | 16,773 |
Goodwill by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Consolidated
Balance at Dec. 31, 2023 |  |  |  |
Goodwill | $ | 7,004 |  | $ | 1,429 |  | $ | 8,508 |  | $ | 16,941 |
Accumulated impairment losses | — |  | — |  | (680) |  | (680) |
Net goodwill | $ | 7,004 |  | $ | 1,429 |  | $ | 7,828 |  | $ | 16,261 |
Business realignment (a) | (51) |  | 48 |  | 3 |  | — |
Foreign currency translation | 15 |  | 4 |  | 58 |  | 77 |
Balance at Sept. 30, 2024 |  |  |  |
Goodwill | $ | 6,968 |  | $ | 1,481 |  | $ | 8,569 |  | $ | 17,018 |
Accumulated impairment losses | — |  | — |  | (680) |  | (680) |
Net goodwill | $ | 6,968 |  | $ | 1,481 |  | $ | 7,889 |  | $ | 16,338 |
(a) In the first quarter of 2024, we made certain realignments of similar products and services within our lines of business. See Note 24 of the Notes to Consolidated Financial Statements in our 2024 Annual Report for additional information. Goodwill impairment testing The goodwill impairment test is performed at least annually at the reporting unit level. An interim goodwill impairment test is performed when events or circumstances occur that may indicate that it is more likely than not that the fair value of any reporting unit may be less than its carrying value. In the third quarter of 2025, due to the results of the second quarter 2025 interim goodwill impairment test and macroeconomic conditions, we performed an interim goodwill impairment test of the Investment Management reporting unit, which had $6.2 billion of allocated goodwill. No additional goodwill impairment was recognized. Intangible assets The tables below provide a breakdown of intangible assets by business segment.
Intangible assets – net carrying amount by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated
Balance at Dec. 31, 2024 | $ | 186 |  | $ | 374 |  | $ | 1,442 |  | $ | 849 |  | $ | 2,851 |
Amortization | (20) |  | (2) |  | (12) |  | — |  | (34) |
Foreign currency translation | 6 |  | — |  | 11 |  | — |  | 17 |
Balance at Sept. 30, 2025 | $ | 172 |  | $ | 372 |  | $ | 1,441 |  | $ | 849 |  | $ | 2,834 |
Intangible assets – net carrying amount by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated
Balance at Dec. 31, 2023 | $ | 164 |  | $ | 378 |  | $ | 1,463 |  | $ | 849 |  | $ | 2,854 |
Amortization | (21) |  | (3) |  | (13) |  | — |  | (37) |
Foreign currency translation | — |  | — |  | 7 |  | — |  | 7 |
Balance at Sept. 30, 2024 | $ | 143 |  | $ | 375 |  | $ | 1,457 |  | $ | 849 |  | $ | 2,824 |
The table below provides a breakdown of intangible assets by type.
Intangible assets | Sept. 30, 2025 |  | Dec. 31, 2024
(dollars in millions) | Gross carrying amount | Accumulated amortization | Net carrying amount | Remaining weighted- average amortization period |  | Gross carrying amount | Accumulated amortization | Net carrying amount
Subject to amortization: (a) |  |  |  |  |  |  |  |
Customer contracts – Securities Services | $ | 789 |  | $ | (617) |  | $ | 172 |  | 12 years |  | $ | 779 |  | $ | (593) |  | $ | 186 |
Customer contracts – Market and Wealth Services | 269 |  | (268) |  | 1 |  | 1 year |  | 269 |  | (266) |  | 3 |
Customer relationships – Investment and Wealth Management | 517 |  | (469) |  | 48 |  | 7 years |  | 553 |  | (495) |  | 58 |
Other | 40 |  | (15) |  | 25 |  | 11 years |  | 42 |  | (14) |  | 28 |
Total subject to amortization | $ | 1,615 |  | $ | (1,369) |  | $ | 246 |  | 11 years |  | $ | 1,643 |  | $ | (1,368) |  | $ | 275 |
Not subject to amortization: (b) |  |  |  |  |  |  |  |
Tradenames | $ | 1,294 |  | N/A | $ | 1,294 |  | N/A |  | $ | 1,291 |  | N/A | $ | 1,291 |
Customer relationships | 1,294 |  | N/A | 1,294 |  | N/A |  | 1,285 |  | N/A | 1,285 |
Total not subject to amortization | $ | 2,588 |  | N/A | $ | 2,588 |  | N/A |  | $ | 2,576 |  | N/A | $ | 2,576 |
Total intangible assets | $ | 4,203 |  | $ | (1,369) |  | $ | 2,834 |  | N/A |  | $ | 4,219 |  | $ | (1,368) |  | $ | 2,851 |
(a) Excludes fully amortized intangible assets. (b) Intangible assets not subject to amortization have an indefinite life. N/A – Not applicable. Estimated annual amortization expense for current intangibles for the next five years is as follows:
For the year ended Dec. 31, | Estimated amortization expense (in millions)
2025 |  | $ | 45 |
2026 |  | 37 |
2027 |  | 31 |
2028 |  | 27 |
2029 |  | 24 |
Intangible asset impairment testing Intangible assets not subject to amortization are tested for impairment annually or more often if events or circumstances indicate they may be impaired.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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