XML 26 R43.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill Changes in the carrying value of goodwill for the years ended December 31, 2019 and 2018 are presented below:
(in millions)
Consumer Banking
 
Commercial Banking
 
Total

Balance at December 31, 2017

$2,136

 

$4,751

 

$6,887

Business acquisition
59

 
—

 
59

Adjustments (1)
(23
)
 
—

 
(23
)
Balance at December 31, 2018

$2,172

 

$4,751

 

$6,923

Business acquisitions
83

 
35

 
118

Adjustments
3

 
—

 
3

Balance at December 31, 2019

$2,258

 

$4,786

 

$7,044


(1) Adjustments to goodwill are the result of an update to the purchase price allocation for the FAMC acquisition, given higher value attributed to purchased net assets.
Carrying value of intangible assets
A summary of the carrying value of intangible assets is presented below. Included in the carrying value at December 31, 2019 was $19 million and $5 million in other intangibles related to the Clarfeld and Bowstring acquisitions, respectively. Additionally, included in the carrying value at December 31, 2019 was $18 million related to the March 2019 purchase of naming rights for a theater in Boston, Massachusetts, and a sponsorship and promotion arrangement.
 
 
December 31, 2019
 
December 31, 2018
(in millions)
Amortizable Lives (years)
Gross
Accumulated Amortization
Net
 
Gross
Accumulated Amortization
Net
Acquired technology
7

$21


$4


$17

 

$20


$1


$19

Acquired relationships
5 - 15
37

5

32

 
11

1

10

Naming Rights
10
11

1

10

 
—

—

—

Other
2 - 7
13

4

9

 
3

1

2

Total
 

$82


$14


$68

 

$34


$3


$31
Intangible assets future amortization expense
Estimated intangible asset amortization expense for the next five years is as follows:
(in millions)
Total
2020

$11

2021
10

2022
9

2023
9

2024
8