Goodwill and intangible assets (Tables)

3 Months Ended

Mar. 31, 2012

Goodwill by Business Segment

The tables below provide a breakdown of goodwill by business.

Goodwill by business (in millions)	Investment Management			Investment Services			Other		Consolidated
Balance at Dec. 31, 2011	$	9,373		$	8,491		$	40	$	17,904
Foreign exchange translation		59			40			-		99
Other (a)		(1	)		(10	)		10		(1	)
Balance at March 31, 2012	$	9,431		$	8,521		$	50	$	18,002

(a) Other changes in goodwill include purchase price adjustments and certain other reclassifications.

Goodwill by business (in millions)	Investment Management			Investment Services			Other		Consolidated
Balance at Dec. 31, 2010	$	9,359		$	8,643		$	40	$	18,042
Foreign exchange translation		53			63			-		116
Other (a)		(1	)		(1	)		-		(2	)
Balance at March 31, 2011	$	9,411		$	8,705		$	40	$	18,156

(a) Other changes in goodwill include purchase price adjustments and certain other reclassifications.

Intangible Assets by Business Segment

The tables below provide a breakdown of intangible assets by business.

Intangible assets – net carrying amount by business (in millions)	Investment Management			Investment Services			Other		Consolidated
Balance at Dec. 31, 2011	$	2,382		$	1,922		$	848	$	5,152
Amortization		(48	)		(48	)		-		(96	)
Foreign exchange translation		13			3			-		16
Other (a)		-			(2	)		2		-
Balance at March 31, 2012	$	2,347		$	1,875		$	850	$	5,072

(a) Other changes in intangible assets include purchase price adjustments and certain other reclassifications.

Intangible assets – net carrying amount by business (in millions)	Investment Management			Investment Services			Other		Consolidated
Balance at Dec. 31, 2010	$	2,592		$	2,254		$	850	$	5,696
Acquisitions		-			12			-		12
Amortization		(55	)		(53	)		-		(108	)
Foreign exchange translation		13			7			-		20
Impairment		-			(3	)		-		(3	)
Balance at March 31, 2011	$	2,550		$	2,217		$	850	$	5,617

Intangible Assets by Type

The table below provides a breakdown of intangible assets by type.

Intangible assets	March 31, 2012										Dec. 31, 2011
(in millions)	Gross carrying amount		Accumulated amortization			Net carrying amount		Remaining weighted- average amortization period			Net carrying amount
Subject to amortization:
Customer relationships - Investment Management	$	2,104	$	(1,225	)	$	879		12	yrs.	$	920
Customer contracts - Investment Services		2,354		(880	)		1,474		13			1,517
Other		132		(99	)		33		5			36
Total subject to amortization		4,590		(2,204	)		2,386		12	yrs.		2,473
Not subject to amortization: (a)
Trade name		1,368		N/A			1,368		N/A			1,366
Customer relationships		1,318		N/A			1,318		N/A			1,313
Total not subject to amortization		2,686		N/A			2,686		N/A			2,679
Total intangible assets	$	7,276	$	(2,204	)	$	5,072		N/A		$	5,152

(a)  Intangible assets not subject to amortization have an indefinite life.

N/A - Not applicable.

Estimated Annual Amortization Expense

Estimated annual amortization expense for current intangibles for the next five years is as follows:

For the year ended          Dec. 31,	Estimated amortization expense (in millions)
2012	$	384
2013		335
2014		298
2015		267
2016		237