Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

    NOTE 11   Intangible Assets

Intangible assets consisted of the following:

At December 31 (Dollars in Millions)	2021		2020
Goodwill	$	10,262	$	9,918
Merchant processing contracts		195		235
Core deposit benefits		49		64
Mortgage servicing rights		2,953		2,210
Trust relationships		62		19
Other identified intangibles		479		336
Total	$	14,000	$	12,782

Aggregate amortization expense consisted of the following:

Year Ended December 31 (Dollars in Millions)	2021		2020		2019
Merchant processing contracts	$	45	$	49	$	45
Core deposit benefits		15		18		22
Trust relationships		10		9		10
Other identified intangibles		89		100		91
Total	$	159	$	176	$	168

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

(Dollars in Millions)
2022	$	154
2023		111
2024		89
2025		63
2026		50

The following table reflects the changes in the carrying value of goodwill for the years ended December 31, 2021, 2020 and 2019:

(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, 2018	$	1,647	$	3,475		$	1,618		$	2,629		$	—	$	9,369
Goodwill acquired		—		—			—			285			—		285
Foreign exchange translation and other		—		—			(1	)		2			—		1
Balance at December 31, 2019	$	1,647	$	3,475		$	1,617		$	2,916		$	—	$	9,655
Goodwill acquired		—		—			—			180			—		180
Foreign exchange translation and other		—		—			2			81			—		83
Balance at December 31, 2020	$	1,647	$	3,475		$	1,619		$	3,177		$	—	$	9,918
Goodwill acquired		—		35			144			192			—		371
Foreign exchange translation and other		265		(265	)		(2	)		(25	)		—		(27	)
Balance at December 31, 2021	$	1,912	$	3,245		$	1,761		$	3,344		$	—	$	10,262