Goodwill and other intangible assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

A summary of total amortizing intangible assets follows.

(Dollars in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
December 31, 2023
Core deposit	$	218	$	90	$	128
Other		43		24		19
Total	$	261	$	114	$	147
December 31, 2022
Core deposit	$	218	$	41	$	177
Other		43		11		32
Total	$	261	$	52	$	209

Summary of Estimated Amortization Expense

Estimated amortization expense in future years for such intangible assets is as follows:

(Dollars in millions)
Year ending December 31:
2024	$	53
2025		38
2026		27
2027		18
2028		9
Later years		2
	$	147

Summary of Goodwill Assigned to Reportable Segments for Purposes of Testing for Impairment

A summary of goodwill assigned to each of the Company’s reportable segments as of December 31, 2023 and 2022 for purposes of testing for impairment is as follows:

	December 31,		2023			December 31,
(Dollars in millions)	2022		Transactions (a)			2023
Commercial Bank	$	5,076	$	—		$	5,076
Retail Bank		3,089		—			3,089
Institutional Services & Wealth Management		325		(25	)		300
All Other		—		—			—
Total	$	8,490	$	(25	)	$	8,465

(a)The decrease in Institutional Services & Wealth Management represents goodwill allocated to the CIT business sold in April 2023. Further information regarding that transaction is provided in note 2.