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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of purchase price allocation

The preliminary allocation of purchase price for Finxact is as follows:

(In millions)
Cash			$	27
Other net assets			3
Intangible assets			102
Goodwill			671
Total consideration			$	803
Less: fair value of previously held equity interest			(131)
Total purchase price			$	672

The allocation of purchase price recorded for Ondot was finalized in the third quarter of 2021 as follows:

(In millions)
Cash and cash equivalents			$	13
Receivables and other assets			9
Intangible assets			142
Goodwill			173
Payables and other liabilities			(31)
Total consideration			$	306
Less: fair value of previously held equity interest			(22)
Total purchase price			$	284

Schedule of gross carrying amount and weighted-average useful life allocated to intangible assets

The amounts allocated to identifiable intangible assets are as follows:

(In millions)			Gross Carrying Amount						Weighted-Average Useful Life
Acquired software and technology			$	25					6 years
Customer relationships and other			27						4 years
Total			$	52					5 years

The amounts allocated to identifiable intangible assets are as follows:

(In millions)			Gross Carrying Amount						Weighted-Average Useful Life
Customer relationships			$	90					17 years
Residual buyouts			20						8 years
Acquired software and technology			6						7 years
Non-compete agreements and other			11						5 years
Total			$	127					14 years

The amounts allocated to identifiable intangible assets are as follows:

(In millions)			Gross Carrying Amount						Weighted-Average Useful Life
Acquired software and technology			$	90					6 years
Customer relationships			35						6 years
Non-compete agreements and other			17						4 years
Total			$	142					6 years

The amounts allocated to intangible assets for other acquisitions acquired in 2021 are as follows:

(In millions)			Gross Carrying Amount						Weighted-Average Useful Life
Acquired software and technology			$	31					6 years
Customer relationships			9						10 years
Residual buyouts			7						5 years
Total			$	47					7 years

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- References

No definition available.

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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