Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2020
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 June 30, 2020 and December 31, 2019. The reporting units utilized for goodwill impairment testing are the operating segments or one level below. The Corporation completed its annual goodwill impairment test as of June 30, 2020 using a quantitative assessment for all applicable reporting units. Based on the results of the annual goodwill impairment test, the Corporation determined there was no impairment. For more information regarding annual goodwill impairment testing, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements.
 
 
 
 
Goodwill
 
 
 
 
 
 
 
(Dollars in millions)
June 30
2020
 
December 31
2019
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
At June 30, 2020 and December 31, 2019, the net carrying value of intangible assets was $1.6 billion and $1.7 billion. At June 30, 2020 and December 31, 2019, intangible assets included $1.6 billion of intangible assets associated with trade names, substantially all of which had an indefinite life and, accordingly, are not being amortized. Amortization of intangibles expense was $16 million and $32 million for the three and six months ended June 30, 2020 compared to $29 million and $55 million for the same periods in 2019.