Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of gross carrying amount and weighted-average useful life allocated to intangible assets

The preliminary amounts allocated to identifiable intangible assets are as follows:

(In millions)	Gross Carrying Amount		Weighted-Average Useful Life
Residual buyouts	83		9 years
Customer relationships	35		10 years
Total	$	118	9 years

The amounts allocated to identifiable intangible assets were as follows:

(In millions)	Gross Carrying Amount		Weighted-Average Useful Life
Acquired software and technology	$	90	6 years
Trade name	9		5 years
Customer relationships	6		8 years
Total	$	105	6 years

The amounts allocated to identifiable intangible assets for other acquisitions acquired in 2022 were as follows:

(In millions)	Gross Carrying Amount		Weighted-Average Useful Life
Acquired software and technology	$	12	7 years
Customer relationships	11		10 years
Total	$	23	9 years

Schedule of purchase price allocation

The allocation of purchase price recorded for Finxact was finalized in the fourth quarter of 2022 as follows:

(In millions)
Cash	$	27
Other net assets	1
Intangible assets	105
Goodwill	670
Total consideration	$	803
Less: Fair value of previously held equity interest	(131)
Total purchase price	$	672