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Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

9. Goodwill and Intangible Assets

Goodwill

The Firm completed its annual goodwill impairment testing as of July 1, 2017 and July 1, 2016. The Firm’s impairment testing for each period did not indicate any goodwill impairment as each of the Firm’s reporting units with goodwill had a fair value that was substantially in excess of its carrying value.

Goodwill Rollforward
$ in millionsISWMIMTotal
At December 31, 20151$282$5,533$769$6,584
Foreign currency and other(7)(7)
At December 31, 20161$275$5,533$769$6,577
Foreign currency and other2020
At December 31, 20171$295$5,533$769$6,597
Accumulated
impairments267327700

IS—Institutional Securities

WM—Wealth Management

IM—Investment Management

  • Balances represent the amount of the Firm’s goodwill after accumulated impairments.
  • Balances represent amounts at December 31, 2017, 2016 and 2015.

Intangible Assets by Business Segment
$ in millionsISWMIMTotal
Amortizable intangibles$346$2,361$11$2,718
Mortgage servicing rights33
At December 31, 2016$346$2,364$11$2,721
Amortizable intangibles$349$2,092$4$2,445
Mortgage servicing rights 33
At December 31, 2017$349$2,095$4$2,448

Gross Amortizable Intangible Assets by Type
At December 31, 2017At December 31, 2016
$ in millionsGross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Trademarks$1$$1$
Tradename2835028340
Customer
relationships4,0592,1934,0591,939
Management
contracts503299467275
Other329188329167
Total$5,175$2,730$5,139$2,421
Estimated annual amortization expense for the next five years$301

Net Amortizable Intangible Assets Rollforward
$ in millionsISWMIMTotal
At December 31, 2015$327$2,632$20$2,979
Acquired4343
Disposals(11)(11)
Amortization expense(11)(271)(9)(291)
Impairment losses(2)(2)
At December 31, 2016$346$2,361$11$2,718
Acquired 5151
Disposals(15)(15)
Amortization expense(33)(269)(7)(309)
At December 31, 2017$349$2,092$4$2,445