Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022. 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, 2023
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	15,065	N/A		$	15,065	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	369		$	(96)	273		7.1 years
Other(1)	171		(134)		37		5.7 years
Total other intangible assets	540		(230)		310		6.9 years
Total goodwill and other intangible assets	$	15,605	$	(230)	$	15,375
Commercial MSRs(2)	$	653	$	(263)	$	390
	December 31, 2022
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,777	N/A		$	14,777	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	147		$	(26)	121		7.8 years
Other(1)	195		(157)		38		5.4 years
Total other intangible assets	342		(183)		159		7.3 years
Total goodwill and other intangible assets	$	15,119	$	(183)	$	14,936
Commercial MSRs(2)	$	660	$	(223)	$	437

__________

(1)Primarily consists of intangibles for sponsorship, customer and merchant relationships, domain names and licenses.

(2)Commercial MSRs are accounted for under the amortization method under which we recorded $88 million and $93 million of amortization expense for the years ended December 31, 2023 and 2022, respectively.

Goodwill by Business Segments

The following table presents changes in the carrying amount of goodwill by each of our business segments for the years ended December 31, 2023, 2022 and 2021. We did not recognize any goodwill impairment during 2023, 2022 and 2021.

Table 6.2: Goodwill by Business Segments

(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
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
Other adjustments(1)	(9)		0		4		(5)
Balance as of December 31, 2022	5,078		4,645		5,054		14,777
Acquisitions	273		0		0		273
Other adjustments(1)	15		0		0		15
Balance as of December 31, 2023	$	5,366	$	4,645	$	5,054	$	15,065

__________

(1)Primarily represents foreign currency translation adjustments and measurement period adjustments.

The following table summarizes the actual amortization expense recorded for the years ended December 31, 2023, 2022, 2021 and the estimated future amortization expense for intangible assets as of December 31, 2023:

Table 6.3: Amortization Expense

(Dollars in millions)	Amortization Expense
Actual for the year ended December 31,
2021	$	29
2022	60
2023	82
Estimated future amounts for the year ending December 31,
2024	77
2025	65
2026	52
2027	41
2028	31
Thereafter	36
Total estimated future amounts	$	302