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Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
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
Residual buyouts | $ | 83 |  |  | 9 years
Customer relationships | 35 |  |  | 10 years
Total | $ | 118 |  |  | 9 years
The amounts allocated to identifiable intangible assets were as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Acquired software and technology | $ | 90 |  |  | 6 years
Trade name | 9 |  |  | 5 years
Customer relationships | 6 |  |  | 8 years
Total | $ | 105 |  |  | 6 years
The amounts allocated to identifiable intangible assets for other acquisitions acquired in 2022 were as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Acquired software and technology | $ | 12 |  |  | 7 years
Customer relationships | 11 |  |  | 10 years
Total | $ | 23 |  |  | 9 years
Schedule of purchase price allocation | The allocation of purchase price recorded for Finxact was finalized in the fourth quarter of 2022 as follows:
(In millions) |
Cash | $ | 27 |
Other net assets | 1 |
Intangible assets | 105 |
Goodwill | 670 |
Total consideration | $ | 803 |
Less: Fair value of previously held equity interest | (131) |
Total purchase price | $ | 672 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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