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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill represents the excess of the cost of an acquisition over the fair value of the net tangible and other intangible assets acquired. Other intangible assets represent purchased long-lived intangible assets, primarily client relationships, that can be distinguished from goodwill because of contractual rights or because the asset can be exchanged on its own or in combination with a related contract, asset or liability. Goodwill is not amortized, but is subject to at least annual evaluation for impairment. Other intangible assets, which are subject to evaluation for impairment, are mainly related to client relationships, which are amortized on a straight-line basis over periods ranging from five to twenty years, technology assets, which are amortized on a straight-line basis over periods ranging from three to ten years, and core deposit intangible assets, which are amortized on a straight-line basis over periods ranging from sixteen to twenty-two years, with such amortization recorded in other expenses in our consolidated statement of income.
Impairment of goodwill is deemed to exist if the carrying value of a reporting unit, including its allocation of goodwill and other intangible assets, exceeds its estimated fair value. Impairment of other intangible assets is deemed to exist if the balance of the other intangible asset exceeds the cumulative expected undiscounted net cash inflows related to the asset over its remaining estimated useful life. If these reviews determine that goodwill or other intangible assets are impaired, the value of the goodwill or the other intangible asset is written down through a charge to other expenses in our consolidated statement of income. There were no impairments to goodwill or other intangible assets in 2021, 2020 and 2019.
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)
66 — 66 
Divestitures(3)
(17)— (17)
Foreign currency translation(108)(3)(111)
Ending balance December 31, 2021$7,354 $267 $7,621 
(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.
(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)
264 — 264 
Amortization(221)(24)(245)
Foreign currency translation(30)— (30)
Ending balance December 31, 2021$1,746 $70 $1,816 
(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 following table presents the gross carrying amount, accumulated amortization and net carrying amount of other intangible assets by type as of the dates indicated:
December 31, 2021
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
(In millions)
Other intangible assets:
Client relationships
$2,786 $(1,497)$1,289 
Technology
403 (142)261 
Core deposits
696 (451)245 
Other
96 (75)21 
Total
$3,981 $(2,165)$1,816 
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 
Amortization expense related to other intangible assets was $245 million, $234 million and $236 million in 2021, 2020 and 2019, respectively.
Expected future amortization expense for other intangible assets recorded as of December 31, 2021 is as follows:
(In millions)Future Amortization
Years Ended December 31,
2022$248 
2023246 
2024239 
2025214 
2026205