Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets [Text Block]

Goodwill and Other Intangible Assets

Goodwill and intangible assets deemed to have indefinite lives are not amortized but are instead subject to impairment tests. There were no impairments for the years ended December 31, 2015, 2014 and 2013.

The changes in the carrying amount of goodwill reported in the Company’s main operating segments were as follows:



	Advice & Wealth Management		Asset Management			Annuities		Protection		Consolidated
	(in millions)
Balance at January 1, 2014	$	252	$	821		$	46	$	45	$	1,164
Foreign currency translation	—		(19		)	—		—		(19		)
Purchase price adjustments	—		9			—		—		9
Balance at December 31, 2014	252		811			46		45		1,154
Foreign currency translation	—		(15		)	—		—		(15		)
Purchase price adjustments	—		(2		)	—		—		(2		)
Balance at December 31, 2015	$	252	$	794		$	46	$	45	$	1,137

As of December 31, 2015 and 2014, the carrying amount of indefinite-lived intangible assets included $644 million and $630 million, respectively of investment management contracts. As of both December 31, 2015 and 2014, the carrying amount of indefinite-lived intangible assets included $67 million of trade names. Indefinite-lived intangible assets acquired during the year ended December 31, 2015 were $14 million.

Definite-lived intangible assets consisted of the following:



	December 31, 2015							December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in millions)
Customer relationships	$	149	$	(106	)	$	43	$	150	$	(97	)	$	53
Contracts	233		(189		)	44		233		(180		)	53
Other	149		(103		)	46		151		(98		)	53
Total	$	531	$	(398	)	$	133	$	534	$	(375	)	$	159

Definite-lived intangible assets acquired during the year ended December 31, 2015 were $9 million with a weighted average amortization period of 5 years. The aggregate amortization expense for definite-lived intangible assets during the years ended December 31, 2015, 2014 and 2013 was $33 million, $40 million and $45 million, respectively. In 2015, 2014 and 2013, the Company did not record any impairment charges on definite-lived intangible assets.

Estimated intangible amortization expense as of December 31, 2015 for the next five years is as follows:



	(in millions)
2016	$	26
2017	22
2018	21
2019	18
2020	13

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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