Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.8.0.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Goodwill
The table below presents goodwill balances by business segment and All Other at March 31, 2018 and December 31, 2017. The reporting units utilized for goodwill impairment testing are the operating segments or one level below. For more information, see Note 8 – Goodwill and Intangible Assets to the Consolidated Financial Statements of the Corporation’s 2017 Annual Report on Form 10-K.
 
 
 
 
Goodwill
 
 
 
 
 
 
 
(Dollars in millions)
March 31
2018
 
December 31
2017
Consumer Banking
$
30,123

 
$
30,123

Global Wealth & Investment Management
9,677

 
9,677

Global Banking
23,923

 
23,923

Global Markets
5,182

 
5,182

All Other
46

 
46

Total goodwill
$
68,951

 
$
68,951


Intangible Assets
The table below presents the gross and net carrying values and accumulated amortization for intangible assets at March 31, 2018 and December 31, 2017.
 
 
 
 
 
 
 
 
 
 
 
 
Intangible Assets (1, 2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross
Carrying Value
 
Accumulated
Amortization
 
Net
Carrying Value
 
Gross
Carrying Value
 
Accumulated
Amortization
 
Net
Carrying Value
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Purchased credit card and affinity relationships
$
5,919

 
$
5,643

 
$
276

 
$
5,919

 
$
5,604

 
$
315

Core deposit and other intangibles (3)
3,835

 
2,160

 
1,675

 
3,835

 
2,140

 
1,695

Customer relationships
3,886

 
3,660

 
226

 
3,886

 
3,584

 
302

Total intangible assets
$
13,640

 
$
11,463

 
$
2,177

 
$
13,640

 
$
11,328

 
$
2,312


(1) 
Excludes fully amortized intangible assets.
(2) 
At March 31, 2018 and December 31, 2017, none of the intangible assets were impaired.
(3) 
Includes $1.6 billion at both March 31, 2018 and December 31, 2017 of intangible assets associated with trade names that have an indefinite life and, accordingly, are not amortized.
Amortization of intangibles expense was $135 million and $162 million for the three months ended March 31, 2018 and 2017. The Corporation estimates aggregate amortization expense will be $403 million for the remainder of 2018, $105 million for 2019, $53 million for 2020 and none for the years thereafter.