Goodwill and Acquired Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents the changes in goodwill by business segment during the year ended December 31, 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
Goodwill acquired	—			—			56			—			56
Measurement period adjustment	—			—			(8		)	—			(8		)
Reclassification of goodwill⁽¹⁾	—			29			—			(29		)	—
Goodwill reclassified to held for sale⁽²⁾	—			(47		)	—			—			(47		)
Foreign currency translation adjustment	(116		)	(17		)	(77		)	(14		)	(224		)
Balance at December 31, 2018	$	3,430		$	455		$	2,333		$	145		$	6,363

____________

⁽¹⁾ Concurrent with the realignment of our BWise internal audit, regulatory compliance management, and operational risk management software 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:



	December 31, 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	$	54		$	(15	)	$	39		9	$	65		$	(22	)	$	43		8
Customer relationships⁽¹⁾	1,532			(456		)	1,076			18	1,708			(526		)	1,182			18
Other	17			(2		)	15			8	17			(4		)	13			8
Foreign currency translation adjustment	(149		)	64			(85		)		(111		)	46			(65		)
Total finite-lived intangible assets	$	1,454		$	(409	)	$	1,045			$	1,679		$	(506	)	$	1,173
Indefinite-Lived Intangible Assets
Exchange and clearing registrations	$	1,257		$	—		$	1,257			$	1,257		$	—		$	1,257
Trade names	122			—			122				129			—			129
Licenses	52			—			52				52			—			52
Foreign currency translation adjustment	(176		)	—			(176		)		(143		)	—			(143		)
Total indefinite-lived intangible assets	$	1,255		$	—		$	1,255			$	1,295		$	—		$	1,295
Total intangible assets	$	2,709		$	(409	)	$	2,300			$	2,974		$	(506	)	$	2,468

____________


⁽¹⁾	The decrease in the gross amount and accumulated amortization for customer relationships as of December 31, 2018 compared with 2017 is primarily due to certain intangible assets that became fully amortized in fourth quarter of 2018.

Schedule of Acquired Indefinite-lived Intangible Assets

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



	December 31, 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	$	54		$	(15	)	$	39		9	$	65		$	(22	)	$	43		8
Customer relationships⁽¹⁾	1,532			(456		)	1,076			18	1,708			(526		)	1,182			18
Other	17			(2		)	15			8	17			(4		)	13			8
Foreign currency translation adjustment	(149		)	64			(85		)		(111		)	46			(65		)
Total finite-lived intangible assets	$	1,454		$	(409	)	$	1,045			$	1,679		$	(506	)	$	1,173
Indefinite-Lived Intangible Assets
Exchange and clearing registrations	$	1,257		$	—		$	1,257			$	1,257		$	—		$	1,257
Trade names	122			—			122				129			—			129
Licenses	52			—			52				52			—			52
Foreign currency translation adjustment	(176		)	—			(176		)		(143		)	—			(143		)
Total indefinite-lived intangible assets	$	1,255		$	—		$	1,255			$	1,295		$	—		$	1,295
Total intangible assets	$	2,709		$	(409	)	$	2,300			$	2,974		$	(506	)	$	2,468

____________


⁽¹⁾	The decrease in the gross amount and accumulated amortization for customer relationships as of December 31, 2018 compared with 2017 is primarily due to certain intangible assets that became fully amortized in fourth quarter of 2018.

Estimated Future Amortization Expense

The estimated future amortization expense (excluding the impact of foreign currency translation adjustments of $85 million as of December 31, 2018) of acquired finite-lived intangible assets as of December 31, 2018 is as follows:



	(in millions)
2019	$	100
2020	98
2021	97
2022	94
2023	92
2024 and thereafter	649
Total	$	1,130

Schedule of Finite-Lived Intangible Assets [Table Text Block]



	Gross Amount		Accumulated Amortization			Net Amount
	(in millions)
Finite-lived intangible assets reclassified as held for sale - customer relationships	$	21	$	(10	)	$	11
Indefinite-lived intangible assets reclassified as held for sale - trade name	$	5	$	—		$	5
Total intangible assets held for sale	$	26	$	(10	)	$	16

Schedule of Indefinite-Lived Intangible Assets [Table Text Block]



	Gross Amount		Accumulated Amortization			Net Amount
	(in millions)
Finite-lived intangible assets reclassified as held for sale - customer relationships	$	21	$	(10	)	$	11
Indefinite-lived intangible assets reclassified as held for sale - trade name	$	5	$	—		$	5
Total intangible assets held for sale	$	26	$	(10	)	$	16