Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015. Goodwill is presented separately on our consolidated balance sheets. Intangible assets and MSRs are included in other assets on our consolidated balance sheets.

Table 7.1: Components of Goodwill, Intangible Assets and MSRs



	December 31, 2016
(Dollars in millions)	Carrying Amount of Assets⁽¹⁾		Accumulated Amortization⁽¹⁾			Net Carrying Amount		Remaining Amortization Period
Goodwill	$	14,519	N/A			$	14,519	N/A
Intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	2,151		$	(1,715	)	436		4.4 years
Core deposit intangibles	1,391		(1,345		)	46		2.0 years
Other⁽²⁾	314		(131		)	183		8.7 years
Total intangible assets	3,856		(3,191		)	665		5.4 years
Total goodwill and intangible assets	$	18,375	$	(3,191	)	$	15,184
MSRs:
Consumer MSRs⁽³⁾	$	80	N/A			$	80
Commercial MSRs⁽⁴⁾	276		$	(82	)	194
Total MSRs	$	356	$	(82	)	$	274

	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:
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

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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 intangibles for sponsorship relationships, 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 $31 million and $27 million of amortization expense for the years ended December 31, 2016 and 2015, respectively.

Goodwill Attributable to Business Segments

The following table presents goodwill attributable to each of our business segments as of December 31, 2016 and 2015.

Table 7.2: Goodwill Attributable to Business Segments



(Dollars in millions)	Credit Card			Consumer Banking		Commercial Banking			Total
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
Acquisitions⁽¹⁾	36			0		18			54
Other adjustments	(15		)	0		0			(15		)
Balance as of December 31, 2016	$	5,018		$	4,600	$	4,901		$	14,519

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⁽¹⁾	In connection with the HFS acquisition, we recorded goodwill of $518 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.

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

The following table summarizes the actual amortization expense recorded for the years ended December 31, 2016, 2015 and 2014 and the estimated future amortization expense for intangible assets as of December 31, 2016:

Table 7.3: Amortization Expense



(Dollars in millions)	Amortization Expense
Actual for the year ended December 31,
2014	$	532
2015	430
2016	386
Estimated future amounts for the year ended December 31,
2017	245
2018	176
2019	108
2020	57
2021	27
Thereafter	48
Total estimated future amounts	$	661