Goodwill and intangible assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Breakdown of Goodwill by Business

The tables below provide a breakdown of goodwill by business segment.

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2021	$	7,062	$	1,435	$	9,015	$	17,512
Impairment losses	—		—		(680)		(680)
Dispositions	(13)		—		—		(13)
Foreign currency translation	(142)		(18)		(247)		(407)
Balance at Sept. 30, 2022
Goodwill	$	6,907	$	1,417	$	8,768	$	17,092
Accumulated impairment losses	—		—		(680)		(680)
Net goodwill	$	6,907	$	1,417	$	8,088	$	16,412

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2020	$	7,033	$	1,423	$	9,040	$	17,496
Dispositions	—		—		(5)		(5)
Foreign currency translation	(47)		(1)		(23)		(71)
Balance at Sept. 30, 2021	$	6,986	$	1,422	$	9,012	$	17,420

Breakdown of Intangible Assets by Business

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

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2021	$	230	$	392	$	1,520	$	849	$	2,991
Amortization	(25)		(6)		(20)		—		(51)
Foreign currency translation	(8)		—		(30)		—		(38)
Balance at Sept. 30, 2022	$	197	$	386	$	1,470	$	849	$	2,902

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2020	$	194	$	414	$	1,555	$	849	$	3,012
Disposition	—		—		(6)		—		(6)
Amortization	(24)		(17)		(22)		—		(63)
Foreign currency translation	—		—		(2)		—		(2)
Balance at Sept. 30, 2021	$	170	$	397	$	1,525	$	849	$	2,941

Breakdown of Intangible Assets by Type

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

Intangible assets	Sept. 30, 2022							Dec. 31, 2021
(dollars in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Remaining weighted- average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Subject to amortization: (a)
Customer contracts—Securities Services	$	733	$	(538)	$	195	11 years	$	747	$	(518)	$	229
Customer contracts—Market and Wealth Services	314		(299)		15		4 years	378		(356)		22
Customer relationships—Investment and Wealth Management	553		(456)		97		9 years	568		(456)		112
Other	47		(13)		34		14 years	47		(8)		39
Total subject to amortization	1,647		(1,306)		341		10 years	1,740		(1,338)		402
Not subject to amortization: (b)
Tradename	1,288		N/A		1,288		N/A	1,294		N/A		1,294
Customer relationships	1,273		N/A		1,273		N/A	1,295		N/A		1,295
Total not subject to amortization	2,561		N/A		2,561		N/A	2,589		N/A		2,589
Total intangible assets	$	4,208	$	(1,306)	$	2,902	N/A	$	4,329	$	(1,338)	$	2,991

(a)    Excludes fully amortized intangible assets.

(b)    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)
2022		$	67
2023		57
2024		49
2025		42
2026		34