Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill, Intangible Assets and MSRs

The table below displays the components of goodwill, intangible assets and MSRs as of December 31, 2015 and 2014. Goodwill is presented separately on our consolidated balance sheets. Intangible assets and MSRs are included in other assets on our consolidated balance sheets.

Table 8.1: Components of Goodwill, Intangible Assets and MSRs



	December 31, 2015
(Dollars in millions)	Carrying Amount of Assets⁽¹⁾		Accumulated Amortization⁽¹⁾			Net Carrying Amount		Remaining Amortization Period
Goodwill	$	14,480	N/A			$	14,480	N/A
Intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	2,156		$	(1,467	)	689		5.1 years
Core deposit intangibles	1,771		(1,662		)	109		2.9 years
Other⁽²⁾	378		(135		)	243		9.6 years
Total intangible assets	4,305		(3,264		)	1,041		5.9 years
Total goodwill and intangible assets	$	18,785	$	(3,264	)	$	15,521
MSRs:
Consumer MSRs⁽³⁾	$	68	N/A			$	68
Commercial MSRs⁽⁴⁾	212		$	(51	)	161
Total MSRs	$	280	$	(51	)	$	229

	December 31, 2014
(Dollars in millions)	Carrying Amount of Assets⁽¹⁾		Accumulated Amortization⁽¹⁾			Net Carrying Amount		Remaining Amortization Period
Goodwill	$	13,978	N/A			$	13,978	N/A
Intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	2,124		$	(1,152	)	972		6.0 years
Core deposit intangibles	1,771		(1,569		)	202		3.8 years
Other⁽²⁾	300		(158		)	142		9.6 years
Total intangible assets	4,195		(2,879		)	1,316		6.1 years
Total goodwill and intangible assets	$	18,173	$	(2,879	)	$	15,294
MSRs:
Consumer MSRs⁽³⁾	$	53	N/A			$	53
Commercial MSRs⁽⁴⁾	171		$	(24	)	147
Total MSRs	$	224	$	(24	)	$	200

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⁽¹⁾	Certain intangible assets that were fully amortized in prior periods were removed from our consolidated balance sheets.


⁽²⁾	Primarily consists of brokerage relationship intangibles, partnership and other contract intangibles and trade name intangibles.


⁽³⁾	Represents MSRs related to our Consumer Banking business that are carried at fair value on our consolidated balance sheets.


⁽⁴⁾	Represents MSRs related to our Commercial Banking business that are subsequently accounted for under the amortization method and periodically assessed for impairment. We recorded $27 million and $21 million of amortization expense for the years ended December 31, 2015 and 2014, respectively.

Goodwill Attributable to Business Segments

The following table presents goodwill attributable to each of our business segments as of December 31, 2015 and 2014.

Table 8.2: Goodwill Attributable to Business Segments



(Dollars in millions)	Credit Card			Consumer Banking			Commercial Banking			Total
Balance as of December 31, 2013	$	5,005		$	4,585		$	4,388		$	13,978
Acquisitions	2			10			0			12
Other adjustments	(6		)	(2		)	(4		)	(12		)
Balance as of December 31, 2014	5,001			4,593			4,384			13,978
Acquisitions⁽¹⁾	1			7			500			508
Other adjustments	(5		)	0			(1		)	(6		)
Balance as of December 31, 2015	$	4,997		$	4,600		$	4,883		$	14,480

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⁽¹⁾	In connection with the GE Healthcare acquisition, we recorded goodwill of $500 million representing the amount by which the purchase price exceeded the fair value of the net assets acquired. The goodwill was assigned to the Commercial Banking segment. See “Note 2—Business Developments” for additional information about this acquisition.

Schedule of Finite-Lived Intangible Assets, Amortization Expense and Future Amortization Expense

The following table summarizes the actual amortization expense recorded for the years ended December 31, 2015, 2014 and 2013 and the estimated future amortization expense for intangible assets as of December 31, 2015:

Table 8.3: Amortization Expense



(Dollars in millions)	Amortization Expense
Actual for the year ended December 31,
2013	$	671
2014	532
2015	430
Estimated future amounts for the year ended December 31,
2016	368
2017	269
2018	178
2019	100
2020	49
Thereafter	73
Total estimated future amounts	$	1,037