Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

  NOTE 10   Intangible Assets

Intangible assets consisted of the following:

At December 31 (Dollars in Millions)	Estimated Life(a)	Amortization Method(b)		Balance
				2018		2017
Goodwill			(c)	$	9,369	$	9,434
Merchant processing contracts	6 years/8 years		SL/AC		155		89
Core deposit benefits	22 years/5 years		SL/AC		104		131
Mortgage servicing rights			(c)		2,791		2,645
Trust relationships	10 years/7 years		SL/AC		34		45
Other identified intangibles	5 years/4 years		SL/AC		308		318
Total				$	12,761	$	12,662

(a) Estimated life represents the amortization period for assets subject to the straight line method and the weighted average or life of the underlying cash flows amortization period for intangibles subject to accelerated methods. If more than one amortization method is used for a category, the estimated life for each method is calculated and reported separately.

(b) Amortization methods:         SL = straight line method

                                                      AC = accelerated methods generally based on cash flows

(c) Goodwill is evaluated for impairment, but not amortized. Mortgage servicing rights are recorded at fair value, and are not amortized.

Aggregate amortization expense consisted of the following:    

Year Ended December 31 (Dollars in Millions)	2018		2017		2016
Merchant processing contracts	$	24	$	24	$	28
Core deposit benefits		26		30		34
Trust relationships		11		14		16
Other identified intangibles		100		107		101
Total	$	161	$	175	$	179

The estimated amortization expense for the next five years is as follows:    

(Dollars in Millions)
2019	$	141
2020		113
2021		90
2022		74
2023		45

The following table reflects the changes in the carrying value of goodwill for the years ended December 31, 2018, 2017 and 2016:

(Dollars in Millions)	Corporate and Commercial Banking		Consumer and Business Banking			Wealth Management and Investment Services			Payment Services			Treasury and Corporate Support		Consolidated Company
Balance at December 31, 2015	$	1,647	$	3,681		$	1,567		$	2,466		$	–	$	9,361
Foreign exchange translation and other		–		–			(1	)		(16	)		–		(17	)
Balance at December 31, 2016	$	1,647	$	3,681		$	1,566		$	2,450		$	–	$	9,344
Goodwill acquired		–		–			–			62			–		62
Foreign exchange translation and other		–		–			3			25			–		28
Balance at December 31, 2017	$	1,647	$	3,681		$	1,569		$	2,537		$	–	$	9,434
Goodwill acquired		–		–			–			105			–		105
Disposal		–		(155	)		–			–			–		(155	)
Foreign exchange translation and other		–		(51	)		49			(13	)		–		(15	)
Balance at December 31, 2018	$	1,647	$	3,475		$	1,618		$	2,629		$	–	$	9,369