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Goodwill (Tables)
 9 Months Ended
Sep. 30, 2012
Goodwill

Goodwill activity during the nine months ended September 30, 2012 was as follows:

 

(Dollar amounts in millions)       

December 31, 2011

    $ 12,792   

Claymore Investments, Inc. (1)

      106   

Swiss Re Private Equity Partners (2)

      25   

Excess tax basis amortization (3)

      (15 ) 
  

 

 

  

September 30, 2012

    $ 12,908   
  

 

 

  

 

(1) 

Amount represents goodwill resulting from the Company’s acquisition of the Canadian exchange-traded products (“ETP”) provider, Claymore Investments, Inc. (the “Claymore Transaction”) on March 7, 2012 for approximately $212 million.
(2) 

Amount represents goodwill resulting from the Company’s acquisition of the European private equity and infrastructure funds of funds of Swiss Re Private Equity Partners (“SRPEP”) (the “SRPEP Transaction”) on September 4, 2012.
(3) 

At September 30, 2012, the balance of the Quellos tax-deductible goodwill in excess of book goodwill was approximately $332 million. Goodwill related to the acquisition of the fund-of-funds business of Quellos Group, LLC (the “Quellos Transaction”) will continue to be reduced in future periods by the amount of tax benefits realized from tax-deductible goodwill in excess of book goodwill from the Quellos Transaction.