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Goodwill and Other Intangible Assets
9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
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 127 
Ending balance December 31, 20207,413 270 7,683 
Acquisitions(2)
66  66 
Divestitures(3)
(17) (17)
Foreign currency translation(80)(2)(82)
Ending balance September 30, 2021$7,382 $268 $7,650 
(1) Investment Servicing includes our acquisition of CRD.
(2) Investment Servicing includes our acquisitions of the depositary bank and fund administrator activities of Fideuram Bank Luxembourg, a subsidiary of Intesa Sanpaolo, in the first quarter of 2021, with a total purchase price of approximately EUR 220 million or approximately $258 million, and our acquisition of Mercatus, Inc.in the third quarter of 2021, with a total purchase price of approximately $88 million. We accounted for these acquisitions as business combinations 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 for both transactions pending the completion of valuation procedures related to the acquired assets and assumed liabilities, primarily identifiable intangible assets.
(3) In the second quarter of 2021, we sold a majority share of our WMS business.
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)
263  263 
Amortization(165)(18)(183)
Foreign currency translation(20) (20)
Ending balance September 30, 2021$1,811 $76 $1,887 
(1) Investment Servicing includes our acquisition of CRD.
(2) Investment Servicing includes our acquisitions of the depositary bank and fund administrator activities of Fideuram Bank Luxembourg, a subsidiary of Intesa Sanpaolo, in the first quarter of 2021, with a total purchase price of approximately EUR 220 million or approximately $258 million, and our acquisition of Mercatus, Inc. in the third quarter of 2021, with a total purchase price of approximately $88 million. We accounted for these acquisitions as business combinations 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 for both transactions pending the completion of valuation procedures related to the acquired assets and assumed liabilities, primarily identifiable intangible assets.     
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, 2021
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
(In millions)
Other intangible assets:
Client relationships
$2,803 $(1,464)$1,339 
Technology
404 (133)271 
Core deposits
700 (444)256 
Other
103 (82)21 
Total
$4,010 $(2,123)$1,887 
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