Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following:

At December 31 (Dollars in Millions)	2023		2022
Goodwill	$	12,489	$	12,373
Merchant processing contracts	124		155
Core deposit benefits	2,134		2,706
Mortgage servicing rights	3,377		3,755
Trust relationships	41		50
Other identified intangibles	408		489
Total	$	18,573	$	19,528

Aggregate Amortization Expense

Aggregate amortization expense consisted of the following:

Year Ended December 31 (Dollars in Millions)	2023		2022		2021
Merchant processing contracts	$	31	$	38	$	45
Core deposit benefits	481		53		15
Trust relationships	10		12		10
Other identified intangibles	114		112		89
Total	$	636	$	215	$	159

Estimated Amortization Expense

The estimated amortization expense for the next five years is as follows:

(Dollars in Millions)
2024	$	566
2025	484
2026	415
2027	344
2028	281

Changes in Carrying Value of Goodwill

The following table reflects the changes in the carrying value of goodwill for the years ended December 31, 2023, 2022 and 2021:

(Dollars in Millions)	Wealth, Corporate, Commercial and Institutional Banking		Consumer and Business Banking		Payment Services		Treasury and Corporate Support		Consolidated Company
Balance at December 31, 2020	$	3,266	$	3,475	$	3,177	$	—	$	9,918
Goodwill acquired	144		35		192		—		371
Foreign exchange translation and other	263		(265)		(25)		—		(27)
Balance at December 31, 2021	$	3,673	$	3,245	$	3,344	$	—	$	10,262
Goodwill acquired	918		1,220		11		—		2,149
Foreign exchange translation and other	(2)		—		(36)		—		(38)
Balance at December 31, 2022	$	4,589	$	4,465	$	3,319	$	—	$	12,373
Goodwill acquired	235		(139)		—		—		96
Foreign exchange translation and other	1		—		19		—		20
Balance at December 31, 2023	$	4,825	$	4,326	$	3,338	$	—	$	12,489