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Goodwill and Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by Business Segment
Allocations of goodwill by business segment at December 31, 2024, 2023 and 2022 follow:

Table 62: Goodwill by Business Segment
In millionsRetail BankingCorporate & Institutional BankingAsset Management GroupTotal
Balance as of December 31, 2024$6,473 $4,270 $189 $10,932 
Balance as of December 31, 2023$6,473 $4,270 $189 $10,932 
Other (55)(55)
Balance as of December 31, 2022$6,473 $4,325 $189 $10,987 
Commercial Mortgage Servicing Rights
Changes in the commercial MSRs follow:

Table 63: Commercial Mortgage Servicing Rights
In millions202420232022
January 1$1,032 $1,113 $740 
Additions:
From loans sold with servicing retained44 50 62 
Purchases64 44 46 
Changes in fair value due to:
Time and payoffs (a)(317)(332)(208)
Other (b)262 157 473 
December 31$1,085 $1,032 $1,113 
Related unpaid principal balance at December 31$290,384 $288,042 $281,277 
Servicing advances at December 31$653 $561 $421 
(a)Represents decrease in MSR value due to passage of time, which includes the impact from regularly scheduled loan principal payments, prepayments and loans that were paid off during the period.
(b)Includes MSR value changes resulting from changes in interest rates and other market-driven conditions.
Residential Mortgage Servicing Rights
Changes in the residential MSRs follow:
Table 64: Residential Mortgage Servicing Rights
In millions202420232022
January 1$2,654 $2,310 $1,078 
Additions:
From loans sold with servicing retained28 23 57 
Purchases43 444 897 
Changes in fair value due to:
Time and payoffs (a)(254)(237)(231)
Other (b)155 115 509 
Sale (1)
December 31$2,626 $2,654 $2,310 
Unpaid principal balance of loans serviced for others at December 31$196,915 $209,158 $189,831 
Servicing advances at December 31$153 $172 $165 
(a)Represents decrease in MSR value due to passage of time, which includes the impact from regularly scheduled loan principal payments, prepayments and loans that were paid off during the period.
(b)Includes MSR value changes resulting from changes in interest rates and other market-driven conditions.
Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions
The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions:
Table 65: Commercial Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsDecember 31, 2024December 31, 2023
Fair value$1,085$1,032
Weighted-average life (years)3.83.9
Weighted-average constant prepayment rate4.45 %5.51%
Decline in fair value from 10% adverse change$8$9
Decline in fair value from 20% adverse change$16$17
Effective discount rate11.18 %9.64%
Decline in fair value from 10% adverse change$35$31
Decline in fair value from 20% adverse change$69$61
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions
Table 66: Residential Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsDecember 31, 2024December 31, 2023 
Fair value$2,626  $2,654  
Weighted-average life (years)8.0 8.1 
Weighted-average constant prepayment rate6.39 %6.42 %
Decline in fair value from 10% adverse change$57  $60  
Decline in fair value from 20% adverse change$111  $117  
Weighted-average option adjusted spread755 bps765 bps
Decline in fair value from 10% adverse change$81  $83  
Decline in fair value from 20% adverse change$157  $161