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Goodwill and Acquired Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill

The following table presents the changes in goodwill by business segment during the nine months ended September 30, 2018:

	Market Services				Corporate Services				Information Services				Market Technology				Total
	(in millions)
Balance at December 31, 2017	$	3,546			$	490			$	2,362			$	188			$	6,586
Reclassification of goodwill(1)	—				29				—				(29		)		—
Foreign currency translation adjustment	(111		)		(16		)		(79		)		(11		)		(217		)
Balance at September 30, 2018	$	3,435			$	503			$	2,283			$	148			$	6,369

____________

⁽¹⁾ Concurrent with the realignment of our BWise corporate enterprise risk management solutions from our Market Technology segment to our Corporate Services segment, goodwill was reassigned to the Corporate Services segment using a relative fair value approach.

Schedule of Acquired Finite-Lived Intangible Assets

The following table presents details of our total acquired intangible assets, both finite- and indefinite-lived:

	September 30, 2018														December 31, 2017
	Gross Amount				Accumulated Amortization				Net Amount				Weighted-Average Useful Life (in Years)		Gross Amount				Accumulated Amortization				Net Amount				Weighted-Average Useful Life (in Years)
	(in millions)														(in millions)
Finite-Lived Intangible Assets
Technology	$	50			$	(13	)		$	37			9		$	65			$	(22	)		$	43			8
Customer relationships	1,708				(606		)		1,102				18		1,708				(526		)		1,182				18
Other	17				(5		)		12				8		17				(4		)		13				8
Foreign currency translation adjustment	(143		)		62				(81		)				(111		)		46				(65		)
Total finite-lived intangible assets	$	1,632			$	(562	)		$	1,070					$	1,679			$	(506	)		$	1,173
Indefinite-Lived Intangible Assets
Exchange and clearing registrations	$	1,257			$	—			$	1,257					$	1,257			$	—			$	1,257
Trade names	127				—				127						129				—				129
Licenses	52				—				52						52				—				52
Foreign currency translation adjustment	(178		)		—				(178		)				(143		)		—				(143		)
Total indefinite-lived intangible assets	$	1,258			$	—			$	1,258					$	1,295			$	—			$	1,295
Total intangible assets	$	2,890			$	(562	)		$	2,328					$	2,974			$	(506	)		$	2,468

Schedule of Acquired Indefinite-lived Intangible Assets

The following table presents details of our total acquired intangible assets, both finite- and indefinite-lived:

	September 30, 2018														December 31, 2017
	Gross Amount				Accumulated Amortization				Net Amount				Weighted-Average Useful Life (in Years)		Gross Amount				Accumulated Amortization				Net Amount				Weighted-Average Useful Life (in Years)
	(in millions)														(in millions)
Finite-Lived Intangible Assets
Technology	$	50			$	(13	)		$	37			9		$	65			$	(22	)		$	43			8
Customer relationships	1,708				(606		)		1,102				18		1,708				(526		)		1,182				18
Other	17				(5		)		12				8		17				(4		)		13				8
Foreign currency translation adjustment	(143		)		62				(81		)				(111		)		46				(65		)
Total finite-lived intangible assets	$	1,632			$	(562	)		$	1,070					$	1,679			$	(506	)		$	1,173
Indefinite-Lived Intangible Assets
Exchange and clearing registrations	$	1,257			$	—			$	1,257					$	1,257			$	—			$	1,257
Trade names	127				—				127						129				—				129
Licenses	52				—				52						52				—				52
Foreign currency translation adjustment	(178		)		—				(178		)				(143		)		—				(143		)
Total indefinite-lived intangible assets	$	1,258			$	—			$	1,258					$	1,295			$	—			$	1,295
Total intangible assets	$	2,890			$	(562	)		$	2,328					$	2,974			$	(506	)		$	2,468

Estimated Future Amortization Expense

The estimated future amortization expense (excluding the impact of foreign currency translation adjustments of $81 million as of September 30, 2018) of acquired finite-lived intangible assets as of September 30, 2018 is as follows:

	(in millions)
2018(1)	$	27
2019	99
2020	98
2021	97
2022	94
2023 and thereafter	736
Total	$	1,151

____________

⁽¹⁾ Represents the estimated amortization to be recognized for

the remaining three months of 2018.

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