Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 9 — Goodwill and Other Intangible Assets

Goodwill

The components of goodwill are outlined below for the years ended December 31, 2023 and 2022.

	HWC			R&B			Total
Balance at December 31, 2021
Goodwill, gross	$	7,904		$	2,771		$	10,675
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - December 31, 2021		7,774			2,409			10,183
Goodwill acquired		—			104			104
Goodwill disposals		—			(18	)		(18	)
Foreign exchange		(34	)		(62	)		(96	)
Balance at December 31, 2022
Goodwill, gross		7,870			2,795			10,665
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - December 31, 2022		7,740			2,433			10,173
Goodwill disposals		(21	)		—			(21	)
Foreign exchange		17			26			43
Balance at December 31, 2023
Goodwill, gross		7,866			2,821			10,687
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - December 31, 2023	$	7,736		$	2,459		$	10,195

Other Intangible Assets

The following table reflects changes in the net carrying amounts of the components of finite-lived intangible assets for the years ended December 31, 2023 and 2022:

	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2021:
Intangible assets, gross	$	3,794		$	742		$	1,039		$	102		$	5,677
Accumulated amortization		(2,118	)		(701	)		(257	)		(46	)		(3,122	)
Intangible assets, net - December 31, 2021		1,676			41			782			56			2,555
Intangible assets acquired		67			4			1			—			72
Intangible asset disposals		(1	)		—			—			(5	)		(6	)
Amortization		(230	)		(31	)		(42	)		(9	)		(312	)
Foreign exchange		(34	)		(1	)		(1	)		—			(36	)
Balance at December 31, 2022:
Intangible assets, gross		3,760			725			1,038			98			5,621
Accumulated amortization		(2,282	)		(712	)		(298	)		(56	)		(3,348	)
Intangible assets, net - December 31, 2022		1,478			13			740			42			2,273
Intangible assets acquired		7			—			—			—			7
Intangible asset disposals		—			—			—			(13	)		(13	)
Amortization		(204	)		(10	)		(43	)		(6	)		(263	)
Foreign exchange		12			—			—			—			12
Balance at December 31, 2023:
Intangible assets, gross		3,807			729			1,039			63			5,638
Accumulated amortization		(2,514	)		(726	)		(342	)		(40	)		(3,622	)
Intangible assets, net - December 31, 2023	$	1,293		$	3		$	697		$	23		$	2,016

The weighted-average remaining life of amortizable intangible assets and liabilities at December 31, 2023 was 11.7 years.

The table below reflects the future estimated amortization expense for amortizable intangible assets for the next five years and thereafter:

Years ended December 31,	Amortization
2024	$	231
2025		211
2026		202
2027		198
2028		194
Thereafter		980
Total	$	2,016