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Goodwill, Software and Other Intangible Assets (Tables)
 12 Months Ended
Oct. 31, 2020
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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
 
2020
  
Balance at beginning of year
 
$
278
 
 
$
884
 
  
$
4,084
 
  
$
203
 
  
$
5,449
 
  
Impairment
 
 
(248
) 
 
 
–
 
  
 
–
 
  
 
–
 
  
 
(248
) 
 
  
Foreign currency translation adjustments
 
 
5
 
 
 
–
 
  
 
47
 
  
 
–
 
  
 
52
 
 
  
Balance at end of year
 
$
       35
 
 
$
    884
 
  
$
    4,131
 
  
$
    203
 
  
$
    5,253
 
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
 
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
 
2020
  
Balance at beginning of year
  
$
116
 
  
$
26
 
  
$
142
 
 
  
Foreign currency translation adjustments
  
 
–
 
  
 
–
 
  
 
–
 
 
  
Balance at end of year
  
$
    116
 
  
$
    26
 
  
$
    142
 
2019
  
Balance at beginning of year
  
$
116
 
  
$
26
 
  
$
142
 
 
  
Foreign currency translation adjustments
  
 
–
 
  
 
–
 
  
 
–
 
 
  
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
 
2020
  
Gross carrying amount
  
   
 
   
  
   
 
   
 
   
 
  
Balance at beginning of year
  
$
    3,052
 
 
$
    611
 
  
$
    38
 
 
$
    322
 
 
$
    4,023
 
 
  
Additions
  
 
481
 
 
 
–
 
  
 
–
 
 
 
–
 
 
 
481
 
 
  
Disposals
(5)
  
 
(28
) 
 
 
–
 
  
 
–
 
 
 
(69
) 
 
 
(97
) 
 
  
Adjustments
(6)
  
 
3
 
 
 
8
 
  
 
(16
) 
 
 
4
 
 
 
(1
) 
 
  
Balance at end of year
  
$
3,508
 
 
$
619
 
  
$
22
 
 
$
257
 
 
$
4,406
 
2019
  
Balance at end of year
  
$
3,052
 
 
$
611
 
  
$
38
 
 
$
322
 
 
$
4,023
 
2020
  
Accumulated amortization
  
   
 
   
  
   
 
   
 
   
 
  
Balance at beginning of year
  
$
1,631
 
 
$
389
 
  
$
11
 
 
$
165
 
 
$
2,196
 
 
  
Amortization and impairment
(5)
  
 
371
 
 
 
64
 
  
 
5
 
 
 
36
 
 
 
476
 
 
  
Disposals
(5)
  
 
(20
) 
 
 
–
 
  
 
–
 
 
 
(68
) 
 
 
(88
) 
 
  
Adjustments
(6)
  
 
1
 
 
 
4
 
  
 
(4
) 
 
 
2
 
 
 
3
 
 
  
Balance at end of year
  
$
1,983
 
 
$
457
 
  
$
12
 
 
$
135
 
 
$
2,587
 
2019
  
Balance at end of year
  
$
1,631
 
 
$
389
 
  
$
11
 
 
$
165
 
 
$
2,196
 
 
  
Net book value
  
   
 
   
  
   
 
   
 
   
 
  
As at October 31, 2020
  
$
1,525
 
 
$
162
 
  
$
10
 
 
$
122
 
 
$
1,819
 
 
  
As at October 31, 2019
  
$
1,421
 
 
$
222
 
  
$
27
 
 
$
157
 
 
$
1,827
 
 
(1)
Includes $620 million (2019: $515 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 and reclassification of certain contract-based assets to right-of-use assets in Property and
e
quipment as a result of our adoption of IFRS 16 on November 1, 2019.