Other Assets

12 Months Ended

Dec. 31, 2019

OTHER ASSETS

The following is a summary of Other assets as of December 31:


(Millions)	2019		2018
Goodwill	$	3,315	$	3,072
Other intangible assets, at amortized cost	267		275
Other^(a)	11,149		10,031
Total	$	14,731	$	13,378

(a)Primarily includes other receivables net of reserves, investments in non-consolidated entities, prepaid expenses, net deferred tax assets, tax credit investments, right-of-use lease assets and restricted cash. Restricted cash represents amounts available to settle obligations related to certain Card Member credit balances and customer deposits, as well as coupon and maturity obligations of consolidated VIEs.

GOODWILL

The changes in the carrying amount of goodwill reported in our reportable operating segments were as follows:


(Millions)	GCSG		GCS		GMNS		Total
Balance as of December 31, 2017	$	637	$	1,724	$	648	$	3,009
Acquisitions	90		—		—		90
Dispositions	—		—		—		—
Other^(a)	(20)		(6)		(1)		(27)
Balance as of December 31, 2018	$	707	$	1,718	$	647	$	3,072
Acquisitions	189		66		—		255
Dispositions	—		—		—		—
Other^(a)	(7)		(3)		(2)		(12)
Balance as of December 31, 2019	$	889	$	1,781	$	645	$	3,315

(a)Primarily includes foreign currency translation.

Accumulated impairment losses were $221 million as of both December 31, 2019 and 2018.

OTHER INTANGIBLE ASSETS

Intangible assets are amortized on a straight-line basis over their estimated useful lives of 1 to 22 years. We review long-lived assets and asset groups, including intangible assets, for impairment whenever events and circumstances indicate their carrying amounts may not be recoverable. An impairment is recognized if the carrying amount is not recoverable and exceeds the asset or asset group’s fair value.

The gross carrying amount for other intangible assets as of December 31, 2019 and 2018 was $704 million and $702 million, respectively, with accumulated amortization of $437 million and $427 million, respectively.

Amortization expense, which is recorded within Other expense in the Consolidated Statements of Income, was $49 million, $212 million and $207 million for the years ended December 31, 2019, 2018 and 2017, respectively.

TAX CREDIT INVESTMENTS

We account for our tax credit investments, including Qualified Affordable Housing (QAH) investments, using the equity method of accounting. As of December 31, 2019 and 2018, we had $1,154 million and $1,043 million in tax credit investments, respectively, included in Other assets on the Consolidated Balance Sheets, of which $1,109 million and $1,006 million, respectively, related to QAH investments. Included in QAH investments as of December 31, 2019 and 2018, we had $1,032 million and $936 million, respectively, related to investments in unconsolidated VIEs for which we do not have a controlling financial interest.

As of December 31, 2019, we committed to provide funding related to certain of these QAH investments, which is expected to be paid between 2020 and 2043, resulting in $211 million in unfunded commitments reported in Other liabilities, of which $187 million specifically related to unconsolidated VIEs.

In addition, as of December 31, 2019 we had contractual off-balance sheet obligations, which were not deemed probable of being drawn, to provide additional funding up to $78 million for these QAH investments, fully related to unconsolidated VIEs.

During the years ended December 31, 2019 and 2018, we recognized equity method losses related to our QAH investments of $101 million and $126 million, respectively, which were recognized in Other, net expenses; and associated tax credits of $119 million and $97 million, respectively, recognized in Income tax provision.