Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill, Intangible Assets and MSRs

The table below presents our goodwill, other intangible assets and MSRs as of December 31, 2021 and 2020. Goodwill is presented separately, while other intangible assets and MSRs are included in other assets on our consolidated balance sheets.

Table 6.1: Components of Goodwill, Other Intangible Assets and MSRs

	December 31, 2021
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,782	N/A		$	14,782	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	29		$	(10)	19		5.9 years
Other(1)	213		(121)		92		4.1 years
Total other intangible assets	242		(131)		111		4.4 years
Total goodwill and other intangible assets	$	15,024	$	(131)	$	14,893
Commercial MSRs(2)	$	622	$	(202)	$	420
	December 31, 2020
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,653	N/A		$	14,653	N/A
Other intangible assets:
PCCR intangibles	148		$	(138)	10		6.2 years
Other(1)	248		(168)		80		7.3 years
Total other intangible assets	396		(306)		90		7.1 years
Total goodwill and other intangible assets	$	15,049	$	(306)	$	14,743
Commercial MSRs(2)	$	542	$	(175)	$	367

__________

(1)Primarily consists of intangibles for sponsorship, customer and merchant relationships , partnership, trade names and other customer contract intangibles.

(2)Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets. We recorded $79 million and $69 million of amortization expense for the years ended December 31, 2021 and 2020, respectively.

Goodwill by Business Segments

presents changes in carrying amount of goodwill by each of our business segments as of December 31, 2021, 2020 and 2019. There were no changes in the carrying amount of goodwill by each of our business segments for the year ended December 31, 2020. We did not recognize any goodwill impairment during 2021, 2020 or 2019.

Table 6.2: Goodwill by Business Segments

(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Balance as of December 31, 2018	$	5,060	$	4,600	$	4,884	$	14,544
Acquisitions	25		46		36		107
Reductions in goodwill related to divestitures	0		(1)		0		(1)
Other adjustments(1)	3		0		0		3
Balance as of December 31, 2019	$	5,088	$	4,645	$	4,920	$	14,653
Balance as of December 31, 2020	$	5,088	$	4,645	$	4,920	$	14,653
Acquisitions	0		0		130		130
Other adjustments(1)	(1)		0		0		(1)
Balance as of December 31, 2021	$	5,087	$	4,645	$	5,050	$	14,782

__________

(1)Represents foreign currency translation adjustments and measurement period adjustments on prior period acquisitions

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table summarizes the actual amortization expense recorded for the years ended December 31, 2021, 2020 and 2019 and the estimated future amortization expense for intangible assets as of December 31, 2021:

Table 6.3: Amortization Expense

(Dollars in millions)	Amortization Expense
Actual for the year ended December 31,
2019	$	112
2020	60
2021	29
Estimated future amounts for the year ending December 31,
2022	51
2023	20
2024	14
2025	9
2026	4
Thereafter	5
Total estimated future amounts	$	103