Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2014	$	9,352		$	8,467		$	50	$	17,869
Acquisitions	10			—			—		10
Foreign currency translation	(109		)	(107		)	—		(216		)
Balance at March 31, 2015	$	9,253		$	8,360		$	50	$	17,663

Goodwill by business (in millions)	Investment Management		Investment Services		Other		Consolidated
Balance at Dec. 31, 2013	$	9,473	$	8,550	$	50	$	18,073
Foreign currency translation	20		7		—		27
Balance at March 31, 2014	$	9,493	$	8,557	$	50	$	18,100

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, 2014	$	1,923		$	1,355		$	849	$	4,127
Acquisitions	9			—			—		9
Amortization	(25		)	(41		)	—		(66		)
Foreign currency translation	(16		)	(7		)	—		(23		)
Balance at March 31, 2015	$	1,891		$	1,307		$	849	$	4,047

Intangible assets – net carrying amount by business (in millions)	Investment Management			Investment Services			Other		Consolidated
Balance at Dec. 31, 2013	$	2,065		$	1,538		$	849	$	4,452
Amortization	(31		)	(44		)	—		(75		)
Foreign currency translation	3			—			—		3
Balance at March 31, 2014	$	2,037		$	1,494		$	849	$	4,380

Intangible Assets by Type

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

Intangible assets	March 31, 2015								Dec. 31, 2014
(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	$	1,733	$	(1,292	)	$	441	11 years	$	464
Customer contracts—Investment Services	2,314		(1,386		)	928		11 years	974
Other	75		(63		)	12		4 years	14
Total subject to amortization	4,122		(2,741		)	1,381		11 years	1,452
Not subject to amortization: (a)
Trade name	1,358		N/A			1,358		N/A	1,360
Customer relationships	1,308		N/A			1,308		N/A	1,315
Total not subject to amortization	2,666		N/A			2,666		N/A	2,675
Total intangible assets	$	6,788	$	(2,741	)	$	4,047	N/A	$	4,127

(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)
2015		$	266
2016		240
2017		216
2018		181
2019		108