XML 25 R13.htm IDEA: XBRL DOCUMENT v3.23.2
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Other Intangible Assets Goodwill and Other Intangible Assets
The Company performed a qualitative assessment of current events and circumstances, including macroeconomic and market factors, industry and banking sector events, Truist specific performance indicators, and a comparison of management’s forecast and assumptions to those used in its October 1, 2022 qualitative impairment test. Truist concluded that it was not more-likely-than-not that the fair value of one or more of its reporting units is below its respective carrying amount as of June 30, 2023, and therefore no triggering event occurred that required a quantitative goodwill impairment test. Refer to “Note 1. Basis of Presentation” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

The changes in the carrying amount of goodwill attributable to operating segments are reflected in the table below. Activity during 2023 relates to the realignment of Prime Rate Premium Finance Corporation into the C&CB segment from the IH segment. Activity during 2022 reflects the acquisition of BankDirect Capital Finance, BenefitMall, and Kensington Vanguard National Land Services. Refer to “Note 2. Business Combinations” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on the acquisitions and “Note 18. Operating Segments” for additional information on segments.
(Dollars in millions)CB&WC&CBIHTotal
Goodwill, January 1, 2022$16,870 $6,149 $3,079 $26,098 
Mergers and acquisitions— — 912 912 
Adjustments and other(5)5 3 3 
Goodwill, December 31, 202216,865 6,154 3,994 27,013 
Adjustments and other— 216 (216)— 
Goodwill, June 30, 2023$16,865 $6,370 $3,778 $27,013 
The following table, which excludes fully amortized intangibles, presents information for identifiable intangible assets:
 June 30, 2023December 31, 2022
(Dollars in millions)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
CDI$2,473 $(1,527)$946 $2,473 $(1,403)$1,070 
Other, primarily client relationship intangibles
3,791 (1,334)2,457 3,812 (1,210)2,602 
Total$6,264 $(2,861)$3,403 $6,285 $(2,613)$3,672