XML 473 R33.htm IDEA: XBRL DOCUMENT v3.21.1
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes In The Carrying Amount Of Goodwill
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, 2019$7,289 $267 $7,556 
Foreign currency translation124 3 127 
Ending balance December 31, 20207,413 270 7,683 
Acquisitions(2)
3 — 3 
Foreign currency translation(56)(1)(57)
Ending balance March 31, 2021$7,360 $269 $7,629 
(1) Investment Servicing includes our acquisition of CRD.
(2) On March 31, 2021, Investment Servicing includes our acquisition of the depositary bank and fund administrator activities of Fideuram Bank Luxembourg, a subsidiary of Intesa Sanpaolo, with a total purchase price of approximately EUR 220 million or approximately $258 million. We accounted for this acquisition of a going concern as a business combination and, in accordance with ASC Topic 805, Business Combinations, we have recorded assets acquired and liabilities assumed at their respective fair values as of the acquisition date. The purchase price accounting reflected is provisional and is based upon estimates and assumptions that are subject to change within the measurement period (up to one year from the acquisition date pursuant to ASC 805). The measurement period remains open pending the completion of valuation procedures related to the acquired assets and assumed liabilities, primarily the identifiable intangible assets.
Schedule of Finite-Lived 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, 2019
$1,908 $122 $2,030 
Amortization(206)(28)(234)
Foreign currency translation31 — 31 
Ending balance December 31, 20201,733 94 1,827 
Acquisitions(2)
253 — 253 
Amortization(52)(6)(58)
Foreign currency translation(15)— (15)
Ending balance March 31, 2021$1,919 $88 $2,007 
(1) Investment Servicing includes our acquisition of CRD.
(2) On March 31, 2021, Investment Servicing includes our acquisition of the depositary bank and fund administrator activities, of Fideuram Bank Luxembourg, a subsidiary of Intesa Sanpaolo, for a total purchase price of approximately EUR 220 million or approximately $258 million. We accounted for this acquisition of a going concern as a business combination and, in accordance with ASC Topic 805, Business Combinations, we have recorded assets acquired and liabilities assumed at their respective fair values as of the acquisition date. The purchase price accounting reflected is provisional and is based upon estimates and assumptions that are subject to change within the measurement period (up to one year from the acquisition date pursuant to ASC 805). The measurement period remains open pending the completion of valuation procedures related to the acquired assets and assumed liabilities, primarily the identifiable intangible assets.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
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:
March 31, 2021
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
(In millions)
Other intangible assets:
Client relationships
$2,827 $(1,387)$1,440 
Technology
386 (115)271 
Core deposits
699 (429)270 
Other
104 (78)26 
Total
$4,016 $(2,009)$2,007 
December 31, 2020
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
(In millions)
Other intangible assets:
Client relationships
$2,704 $(1,450)$1,254 
Technology
393 (113)280 
Core deposits
690 (425)265 
Other
107 (79)28 
Total
$3,894 $(2,067)$1,827