Goodwill and Intangible Assets |
Goodwill and Intangible Assets Goodwill Rollforward | | | | | | | | | | | | | | | $ in millions | IS | WM | IM | Total | At December 31, 2020¹ | $ | 476 | | $ | 10,278 | | $ | 881 | | $ | 11,635 | | Foreign currency and other | (1) | | (68) | | (3) | | (72) | | Acquired2 | — | | 115 | | 5,155 | | 5,270 | | At December 31, 2021¹ | $ | 475 | | $ | 10,325 | | $ | 6,033 | | $ | 16,833 | | Foreign currency | (39) | | (7) | | (12) | | (58) | | | | | | | Disposals | (7) | | (116) | | — | | (123) | | At December 31, 2022¹ | $ | 429 | | $ | 10,202 | | $ | 6,021 | | $ | 16,652 | | Accumulated impairments3 | $ | 673 | | $ | — | | $ | 27 | | $ | 700 | |
1.Balances represent the amount of the Firm’s goodwill after accumulated impairments. 2.The Investment Management and Wealth Management business segments’ amounts reflect the impact of the Firm's acquisition of Eaton Vance on March 1, 2021. 3.There were no impairments recorded in 2022, 2021 or 2020. Intangible Assets Rollforward | | | | | | | | | | | | | | | $ in millions | IS | WM | IM | Total | At December 31, 2020 | $ | 127 | | $ | 4,809 | | $ | 44 | | $ | 4,980 | | Acquired1 | — | | 134 | | 3,844 | | 3,978 | | Disposals | — | | (36) | | — | | (36) | | Amortization expense | (23) | | (495) | | (94) | | (612) | | Other | — | | 51 | | (1) | | 50 | | At December 31, 2021 | $ | 104 | | $ | 4,463 | | $ | 3,793 | | $ | 8,360 | | Acquired | 23 | | 41 | | — | | 64 | | Disposals | (75) | | (106) | | — | | (181) | | Amortization expense | (16) | | (483) | | (111) | | (610) | | Other | — | | (4) | | (11) | | (15) | | At December 31, 2022 | $ | 36 | | $ | 3,911 | | $ | 3,671 | | $ | 7,618 | |
1.The Investment Management and Wealth Management amounts principally reflect the impact of the Firm's acquisition of Eaton Vance on March 1, 2021, which includes $2.1 billion of non-amortizable intangible assets. Intangible Assets by Type | | | | | | | | | | | | | Non-amortizable | Amortizable | $ in millions | Gross Carrying Amount | Gross Carrying Amount | Accumulated Amortization | At December 31, 2022 | | | | Management contracts | $ | 2,110 | | $ | 245 | | $ | 51 | | Customer relationships | — | | 8,766 | | 4,046 | | Tradenames | — | | 736 | | 151 | | Other | — | | 14 | | 5 | | Total | $ | 2,110 | | $ | 9,761 | | $ | 4,253 | | At December 31, 2021 | | | | Management contracts | 2,120 | | 291 | | 95 | | Customer relationships | — | | 8,851 | | 3,515 | | Tradenames | — | | 737 | | 117 | | Other | — | | 180 | | 92 | | Total | $ | 2,120 | | $ | 10,059 | | $ | 3,819 | | | |
Intangible Assets Estimated Future Amortization Expense | | | | | | | | | | $ in millions | At December 31, 2022 | | | | | 2023 | $ | 599 | | | 2024 | 598 | | | 2025 | 449 | | | 2026 | 340 | | | 2027 | 337 | | | | | |
The Firm’s annual goodwill and non-amortizable intangible asset impairment testing as of July 1, 2022 did not indicate any impairment. For more information, see Note 2.
|