Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill was $375 million at December 31, 2021 compared to $143 million at December 31, 2020, which was a result of additional goodwill recognized for the acquisitions of Boston Private effective July 1, 2021 and MoffettNathanson LLC effective December 10, 2021.

The changes in goodwill were as follows for the years ended December 31, 2021 and 2020:


(Dollars in millions)	Goodwill
Beginning balance at December 31, 2019	$	138
Acquisitions	5
Ending balance at December 31, 2020	$	143
Acquisitions	232
Ending balance at December 31, 2021	$	375

During 2021, we completed our annual goodwill impairment test as of September 30, 2021, as a result, we determined there was no impairment as of December 31, 2021. For more information on our annual impairment policies, see Note 2—“Summary of Significant Accounting Policies."

Other Intangible Assets

The following table presents the gross carrying amount and accumulated amortization of other intangible assets as of December 31, 2021 and 2020:


	December 31, 2021						December 31, 2020
(Dollars in millions)	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount
Other intangible assets:
Customer relationships	$	135	$	16	$	119	$	42	$	8	$	34
Other	57		16		41		36		9		27
Total other intangible assets, net	$	192	$	32	$	160	$	78	$	17	$	61

For the year ended December 31, 2021, we recorded amortization expense of $15 million. Assuming no future impairments of other intangible assets or additional acquisitions or dispositions, the following table presents the Company's future expected amortization expense for other intangible assets that will continue to be amortized as of December 31, 2021:


Years ended December 31, (Dollars in millions)	Other Intangible Assets
2022	$	25
2023	22
2024	20
2025	17

2026 and thereafter	76
Total future amortization expense	$	160