Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

Goodwill was $344 million at September 30, 2021 compared to $143 million at December 31, 2020, which was a result of additional goodwill recognized for the acquisition of Boston Private effective July 1, 2021.

The changes in goodwill were as follows for the nine months ended September 30, 2021:

(Dollars in millions)	Goodwill
Beginning balance at December 31, 2020	$	143
Acquisitions	201
Ending balance at September 30, 2021	$	344

Other Intangible Assets

The components of net other intangible assets were as follows:

	September 30, 2021						December 31, 2020
(Dollars in millions)	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount
Other intangible assets:
Customer relationships	$	127	$	12	$	115	$	42	$	8	$	34
Other	55		14		41		36		9		27
Total other intangible assets	$	182	$	26	$	156	$	78	$	17	$	61

For the nine months ended September 30, 2021, we recorded amortization expense of $9 million. Assuming no future impairments of other intangible assets or additional acquisitions or dispositions, the following table presents the Company's future expected amortization expense for other intangible assets that will continue to be amortized as of September 30, 2021:

Years ended December 31, (Dollars in millions)	Other Intangible Assets
2021 (excluding the nine months ended September 30, 2021)	$	9
2022	21
2023	19
2024	18
2025	15
2026 and thereafter	74
Total future amortization expense	$	156