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Goodwill, Software and Other Intangible Assets (Tables)
 12 Months Ended
Oct. 31, 2019
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Summary of Changes in Carrying Amount of Goodwill by Cash Generating Units
We have three significant CGUs to which goodwill has been allocated. The changes in the carrying amount of goodwill are allocated to each CGU as follows:
 
 
  
 
 
CGUs
 
  
 
 
$ millions, as at or for the year ended October 31
 
CIBC
FirstCaribbean
 
 
Canadian
Wealth
Management
 
  
U.S.
Commercial
Banking and
Wealth
Management
 
 
Other
 
  
Total
 
2019
  
Balance at beginning of year
 
$
413
 
 
$
884
 
  
$
4,078
 
 
$
189
 
  
$
5,564
 
 
  
Acquisitions
 
 
–
 
 
 
–
 
  
 
4
 
 
 
14
 
  
 
18
 
 
  
Impairment
 
 
(135
) 
 
 
–
 
  
 
–
 
 
 
–
 
  
 
(135
) 
 
  
Foreign currency translation adjustments
 
 
–
 
 
 
–
 
  
 
2
 
 
 
–
 
  
 
2
 
 
  
Balance at end of year
 
$
    278
 
 
$
    884
 
  
$
    4,084
 
 
$
    203
 
  
$
 5,449
 
2018
  
Balance at beginning of year
(1)
 
$
405
 
 
$
884
 
  
$
3,952
 
 
$
126
 
  
$
5,367
 
 
  
Acquisitions
 
 
–
 
 
 
–
 
  
 
29
 
(2)
 
 
 
62
 
  
 
91
 
 
  
Impairment
 
 
–
 
 
 
–
 
  
 
–
 
 
 
–
 
  
 
–
 
 
  
Foreign currency translation adjustments
 
 
8
 
 
 
–
 
  
 
97
 
 
 
1
 
  
 
106
 
 
  
Balance at end of year
 
$
413
 
 
$
884
 
  
$
4,078
 
 
$
189
 
  
$
5,564
 
 
(1)
Net of cumulative impairment charges for CIBC FirstCaribbean goodwill of $623 million, and nil for other CGUs.
(2)
Additional goodwill recognized from our acquisition of The PrivateBank. See Note 3 for additional details.
Schedule of Carrying Amount of Indefinite-lived Intangible Assets
The carrying amount of indefinite-lived intangible assets is provided in the following table:
 
$ millions, as at or for the year ended October 31
  
Contract
based 
(1)
 
  
Brand name 
(2)
 
  
Total
 
2019
  
Balance at beginning of year
  
$
116
 
  
$
26
 
  
$
142
 
 
  
Foreign currency translation adjustments
  
 
–
 
  
 
–
 
  
 
–
 
 
  
Balance at end of year
  
$
    116
 
  
$
    26
 
  
$
    142
 
2018
  
Balance at beginning of year
  
$
116
 
  
$
25
 
  
$
141
 
 
  
Foreign currency translation adjustments
  
 
–
 
  
 
1
 
  
 
1
 
 
  
Balance at end of year
  
$
116
 
  
$
26
 
  
$
142
 
 
(1)
Represents management contracts purchased as part of past acquisitions.
(2)
Acquired as part of the CIBC FirstCaribbean acquisition.
Schedule of Components of Finite-lived Software and Other Intangible Assets
The components of finite-lived software and other intangible assets are as follows:
 
$ millions, as at or for the year ended October 31
  
Software 
(1)
 
 
Core deposit
intangibles 
(2)
 
  
Contract
based 
(3)
 
  
Customer
relationships 
(4)
 
 
Total
 
2019
  
Gross carrying amount
  
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
  
Balance at beginning of year
  
$
2,986
 
 
$
611
 
  
$
34
 
  
$
314
 
 
$
3,945
 
 
  
Acquisition through business combinations
  
 
–
 
 
 
–
 
  
 
3
 
  
 
9
 
 
 
12
 
 
  
Additions
  
 
452
 
 
 
–
 
  
 
–
 
  
 
–
 
 
 
452
 
 
  
Disposals
(5)
  
 
(386
) 
 
 
–
 
  
 
–
 
  
 
–
 
 
 
(386
) 
 
  
Adjustments
(6)
  
 
–
 
 
 
–
 
  
 
1
 
  
 
(1
) 
 
 
–
 
 
  
Balance at end of year
  
$
3,052
 
 
$
611
 
  
$
38
 
  
$
322
 
 
$
4,023
 
2018
  
Balance at end of year
  
$
2,986
 
 
$
611
 
  
$
34
 
  
$
314
 
 
$
3,945
 
2019
  
Accumulated amortization
  
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
  
Balance at beginning of year
  
$
1,685
 
 
$
320
 
  
$
6
 
  
$
131
 
 
$
2,142
 
 
  
Amortization and impairment
(5)
  
 
331
 
 
 
69
 
  
 
5
 
  
 
35
 
 
 
440
 
 
  
Disposals
(5)
  
 
(385
) 
 
 
–
 
  
 
–
 
  
 
–
 
 
 
(385
) 
 
  
Adjustments
(6)
  
 
–
 
 
 
–
 
  
 
–
 
  
 
(1
) 
 
 
(1
) 
 
  
Balance at end of year
  
$
1,631
 
 
$
389
 
  
$
11
 
  
$
165
 
 
$
2,196
 
2018
  
Balance at end of year
  
$
1,685
 
 
$
320
 
  
$
6
 
  
$
131
 
 
$
2,142
 
 
  
Net book value
  
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
  
As at October 31, 2019
  
$
    1,421
 
 
$
    222
 
  
$
    27
 
  
$
    157
 
 
$
    1,827
 
 
  
As at October 31, 2018
  
$
1,301
 
 
$
291
 
  
$
28
 
  
$
183
 
 
$
1,803
 
 
 
(1)
Includes $515 million (2018: $467 million) of work-in-progress not subject to amortization.
(2)
Acquired as part of the acquisitions of CIBC FirstCaribbean and The PrivateBank.
(3)
Represents a combination of management contracts purchased as part of past acquisitions including The PrivateBank and Geneva Advisors in 2017, as well as LGA and Cleary Gull in 2019.
(4)
Represents customer relationships associated with past acquisitions including The PrivateBank and Geneva Advisors in 2017, and LGA in 2019.
(5)
Includes write-offs of fully amortized assets.
(6)
Includes foreign currency translation adjustments.