Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents changes in the carrying amount of goodwill during the periods indicated:


(In millions)	Investment Servicing⁽¹⁾		Investment Management		Total
Goodwill:







Ending balance December 31, 2018	$	7,180	$	266	$	7,446
Acquisitions⁽²⁾	122		—		122
Foreign currency translation	(13)		1		(12)
Ending balance December 31, 2019	$	7,289	$	267	$	7,556

Foreign currency translation	51		—		51
Ending balance September 30, 2020	$	7,340	$	267	$	7,607

⁽¹⁾ Investment Servicing includes our acquisition of CRD.

⁽²⁾We completed the purchase price accounting for CRD as of March 31, 2019. Upon completion of valuation procedures related to the acquired assets and assumed liabilities, primarily the identifiable intangible assets, we recorded measurement period adjustments resulting in an increase in the goodwill of $113 million and a decrease of $93 million in intangible assets.

The following table presents changes in the net carrying amount of other intangible assets during the periods indicated:


(In millions)	Investment Servicing⁽¹⁾		Investment Management		Total
Other intangible assets:











Ending balance December 31, 2018	$	2,218	$	151	$	2,369
Acquisitions⁽²⁾	(93)		—		(93)
Amortization	(207)		(29)		(236)
Foreign currency translation	(10)		—		(10)
Ending balance December 31, 2019	$	1,908	$	122	$	2,030

Amortization	(154)		(21)		(175)
Foreign currency translation	15		—		15
Ending balance September 30, 2020	$	1,769	$	101	$	1,870

⁽¹⁾ Investment Servicing includes our acquisition of CRD.

⁽²⁾We completed the purchase price accounting for CRD as of March 31, 2019. Upon completion of valuation procedures related to the acquired assets and assumed liabilities, primarily the identifiable intangible assets, we recorded measurement period adjustments resulting in a decrease in the fair value of intangible assets of $93 million in intangible assets with a corresponding increase to goodwill.

The following table presents the gross carrying amount, accumulated amortization and net carrying amount of other intangible assets by type as of the dates indicated:


September 30, 2020	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(In millions)
Other intangible assets:
Client relationships	$	2,671	$	(1,389)	$	1,282
Technology	392		(102)		290
Core deposits	681		(412)		269
Other	103		(74)		29
Total	$	3,847	$	(1,977)	$	1,870

December 31, 2019	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(In millions)
Other intangible assets:
Client relationships	$	3,104	$	(1,718)	$	1,386
Technology	403		(87)		316
Core deposits	673		(381)		292
Other	100		(64)		36
Total	$	4,280	$	(2,250)	$	2,030