Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill. Changes by reporting segment in the carrying amount of Goodwill for the three months ended March 31, 2026, including the effect of foreign exchange rates on non-U.S. dollar denominated balances, were as follows.

TABLE 49: GOODWILL


(In Millions)	ASSET SERVICING		WEALTH MANAGEMENT		TOTAL
Balance at December 31, 2025	$	632.5	$	80.4	$	712.9

Foreign Exchange Rates	(3.4)		—		(3.4)
Balance at March 31, 2026	$	629.1	$	80.4	$	709.5

Other Intangible Assets. The net carrying amount of other intangible assets was $58.4 and $59.6 as of March 31, 2026 and December 31, 2025, respectively. Other intangible assets consist primarily of the value of acquired client relationships and are included in Other Assets on the consolidated balance sheets.

Capitalized Software. The gross carrying amount and accumulated amortization of capitalized software as of March 31, 2026 and December 31, 2025 were as follows.

TABLE 50: CAPITALIZED SOFTWARE


(In Millions)	MARCH 31, 2026		DECEMBER 31, 2025
Gross Carrying Amount	$	5,006.3	$	4,926.2
Less: Accumulated Amortization	2,702.6		2,574.2
Net Book Value	$	2,303.7	$	2,352.0

Capitalized software, which is included in Other Assets on the consolidated balance sheets, consists primarily of cost related to purchased software and internal-use software development projects that result in new or enhanced functionality, including compensation and other allowable internal costs. Fees paid for the use of software services that do not convey a software license are expensed as incurred. Amortization expense, which is included in Equipment and Software on the consolidated statements of income, totaled $172.9 million and $162.9 million for the three months ended March 31, 2026 and March 31, 2025, respectively