Summary of Significant Accounting Principles and Practices (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of estimated useful lives of assets

Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets, which are generally as follows:



Asset Description		Expected Life
Software		Lesser of the life of an associated license, or 4 to 7 years
Leasehold improvements		Lesser of estimated useful life or lease term, not to exceed 10 years
Furniture, fixtures and equipment		4 to 10 years
Computer equipment		4 to 6 years
Buildings		35 years
Automobiles		6 years

Schedule of other intangible assets by asset class

Amortization basis and estimated useful lives by intangible asset type are generally as follows:



Intangible Asset Description	Amortization Basis	Expected Life
Customer related and contract based	In line with underlying cash flows	7 to 20 years
Tradenames	Straight-line	1 to 3 years
Technology	Straight-line	5 to 7 years

Other intangible assets by asset class are as follows (in millions):



	As of December 31
	2017						2016
	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount
Customer related and contract based	2,550		1,415		1,135		2,023		1,198		825
Tradenames ⁽¹⁾	1,047		533		514		1,027		7		1,020
Technology and other ⁽¹⁾	416		332		84		347		302		45
Total	$	4,013	$	2,280	$	1,733	$	3,397	$	1,507	$	1,890


(1)	Prior to May 1, 2017, finite lived tradenames were classified within Technology and other. As of December 31, 2016, $29 million of gross carrying amount and $7 million of accumulated amortization related to finite-lived tradenames were reclassified from Technology and other to Tradenames.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Upon adoption of the guidance, the Company expects the presentation of results to reflect a change in operating income offset by an equal and offsetting change in other income (expense) for each period, as follows:



	Years ended December 31
	2017						2016
	As Reported		Adjustments ⁽¹⁾		As Adjusted		As Reported	Adjustments ⁽¹⁾		As Adjusted
Operating income ⁽²⁾	979		86		1,065		1,638	173		1,811
Other income (expense)	(39	)	(86	)	(125	)	36	(173	)	(137	)


(1)	The years ended December 31, 2017 and 2016, include non-cash settlement expenses of $128 million and $220 million, respectively, related to certain pension plans. Refer to Note 12 “Employee Benefits” for further information.


(2)	Reclassification from operating income is recorded in Compensation and benefits.