Goodwill and Acquired Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents the changes in goodwill by business segment during the nine months ended September 30, 2020:


	Market Services		Corporate Services		Information Services		Market Technology		Total
	(in millions)
Balance at December 31, 2019	$	3,342	$	460	$	2,283	$	281	$	6,366
Goodwill acquired	—		—		134		—		134


Foreign currency translation adjustment	49		5		40		6		100
Balance at September 30, 2020	$	3,391	$	465	$	2,457	$	287	$	6,600

Schedule of Acquired Finite-Lived Intangible Assets

The following table presents details of our total acquired intangible assets, both finite- and indefinite-lived:


	September 30, 2020						December 31, 2019
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
	(in millions)						(in millions)
Finite-Lived Intangible Assets
Technology	$	76	$	(21)	$	55	$	63	$	(19)	$	44
Customer relationships	1,599		(624)		975		1,596		(532)		1,064
Other	18		(6)		12		18		(5)		13
Foreign currency translation adjustment	(151)		77		(74)		(159)		55		(104)
Total finite-lived intangible assets	$	1,542	$	(574)	$	968	$	1,518	$	(501)	$	1,017
Indefinite-Lived Intangible Assets
Exchange and clearing registrations	$	1,257	$	—	$	1,257	$	1,257	$	—	$	1,257
Trade names	121		—		121		121		—		121
Licenses	52		—		52		52		—		52
Foreign currency translation adjustment	(180)		—		(180)		(198)		—		(198)
Total indefinite-lived intangible assets	$	1,250	$	—	$	1,250	$	1,232	$	—	$	1,232
Total intangible assets	$	2,792	$	(574)	$	2,218	$	2,750	$	(501)	$	2,249

Schedule of Acquired Indefinite-lived Intangible Assets

The following table presents details of our total acquired intangible assets, both finite- and indefinite-lived:


	September 30, 2020						December 31, 2019
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
	(in millions)						(in millions)
Finite-Lived Intangible Assets
Technology	$	76	$	(21)	$	55	$	63	$	(19)	$	44
Customer relationships	1,599		(624)		975		1,596		(532)		1,064
Other	18		(6)		12		18		(5)		13
Foreign currency translation adjustment	(151)		77		(74)		(159)		55		(104)
Total finite-lived intangible assets	$	1,542	$	(574)	$	968	$	1,518	$	(501)	$	1,017
Indefinite-Lived Intangible Assets
Exchange and clearing registrations	$	1,257	$	—	$	1,257	$	1,257	$	—	$	1,257
Trade names	121		—		121		121		—		121
Licenses	52		—		52		52		—		52
Foreign currency translation adjustment	(180)		—		(180)		(198)		—		(198)
Total indefinite-lived intangible assets	$	1,250	$	—	$	1,250	$	1,232	$	—	$	1,232
Total intangible assets	$	2,792	$	(574)	$	2,218	$	2,750	$	(501)	$	2,249

Schedule of Estimated Future Amortization Expense

The estimated future amortization expense (excluding the impact of foreign currency translation adjustments of $74 million as of September 30, 2020) of acquired finite-lived intangible assets as of September 30, 2020 is as follows:


	(in millions)
2020(1)	$	27
2021	109
2022	106
2023	103
2024	98
2025 and thereafter	599
Total	$	1,042

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(1) Represents the estimated amortization to be recognized over the remaining three months of 2020.