Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Note 12: Intangible Assets

Table 12.1 presents the gross carrying value of intangible assets and accumulated amortization.

Table 12.1: Intangible Assets



	March 31, 2020					December 31, 2019
(in millions)	Gross carrying value		Accumulated amortization		Net carrying value	Gross carrying value	Accumulated amortization		Net carrying value
Amortized intangible assets (1):
MSRs (2)	$	4,465	(3,059	)	1,406	4,422	(2,992	)	1,430
Customer relationship and other intangibles	879		(480	)	399	947	(524	)	423
Total amortized intangible assets	$	5,344	(3,539	)	1,805	5,369	(3,516	)	1,853
Unamortized intangible assets:
MSRs (carried at fair value) (2)	$	8,126				11,517
Goodwill	26,381					26,390
Trademark	14					14


(1)	Balances are excluded commencing in the period following full amortization.


(2)	See Note 11 (Mortgage Banking Activities) for additional information on MSRs.

Table 12.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing

asset balances at March 31, 2020. Future amortization expense may vary from these projections.

Table 12.2: Amortization Expense for Intangible Assets



(in millions)	Amortized MSRs		Customer relationship and other intangibles	Total
Three months ended March 31, 2020 (actual)	$	67	24	91
Estimate for the remainder of 2020	$	202	71	273
Estimate for year ended December 31,
2021	235		81	316
2022	210		68	278
2023	181		59	240
2024	156		48	204
2025	130		39	169

Table 12.3 shows the allocation of goodwill to our reportable operating segments. We assess goodwill for impairment at a

reporting unit level, which is generally one level below the operating segments.

Table 12.3: Goodwill



(in millions)	Community Banking		Wholesale Banking		Wealth and Investment Management	Consolidated Company
December 31, 2018	$	16,685	8,450		1,283	26,418
Foreign currency translation	—		2		—	2
March 31, 2019	$	16,685	8,452		1,283	26,420
December 31, 2019	$	16,685	8,429		1,276	26,390
Foreign currency translation	—		(9	)	—	(9	)
March 31, 2020	$	16,685	8,420		1,276	26,381