Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by Business Segment

The table below provides a breakdown of goodwill by business.

Goodwill by business (in millions)	Investment Management			Investment Services			Other		Consolidated
Balance at Dec. 31, 2012	$	9,508		$	8,517		$	50	$	18,075
Foreign exchange translation	(108		)	(51		)	—		(159		)
Other (a)	4			—			—		4
Balance at March 31, 2013	$	9,404		$	8,466		$	50	$	17,920

(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, 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

Intangible Assets by Business Segment

The table below provides 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, 2012	$	2,228		$	1,732		$	849	$	4,809
Amortization	(39		)	(47		)	—		(86		)
Foreign exchange translation	(24		)	(3		)	—		(27		)
Balance at March 31, 2013	$	2,165		$	1,682		$	849	$	4,696

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 by Type

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

Intangible assets	March 31, 2013								Dec. 31, 2012
(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	$	2,062	$	(1,351	)	$	711	12 years	$	761
Customer contracts—Investment Services	2,348		(1,061		)	1,287		12 years	1,335
Other	123		(101		)	22		5 years	25
Total subject to amortization	4,533		(2,513		)	2,020		12 years	2,121
Not subject to amortization: (a)
Trade name	1,366		N/A			1,366		N/A	1,368
Customer relationships	1,310		N/A			1,310		N/A	1,320
Total not subject to amortization	2,676		N/A			2,676		N/A	2,688
Total intangible assets	$	7,209	$	(2,513	)	$	4,696	N/A	$	4,809

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

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)
2013		$	340
2014		302
2015		269
2016		240
2017		216