Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

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		Investment Management		Total
Goodwill:
Ending balance December 31, 2020	$	7,413	$	270	$	7,683
Acquisitions(1)	66		—		66
Divestitures(2)	(17)		—		(17)
Foreign currency translation	(108)		(3)		(111)
Ending balance December 31, 2021	$	7,354	$	267	$	7,621
Acquisitions	3		—		3
Foreign currency translation	(41)		(1)		(42)
Ending balance March 31, 2022	$	7,316	$	266	$	7,582

(1) 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.

(2) In the second quarter of 2021, we sold a majority share of our WMS business.

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		Investment Management		Total
Other intangible assets:
Ending balance December 31, 2020	$	1,733	$	94	$	1,827
Acquisitions(1)	264		—		264
Amortization	(221)		(24)		(245)
Foreign currency translation	(30)		—		(30)
Ending balance December 31, 2021	1,746		70		1,816
Acquisitions	—		—		—
Amortization	(55)		(6)		(61)
Foreign currency translation	(11)		—		(11)
Ending balance March 31, 2022	$	1,680	$	64	$	1,744

(1) 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.

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, 2022	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(In millions)
Other intangible assets:
Client relationships	$	2,766	$	(1,526)	$	1,240
Technology	403		(151)		252
Core deposits	691		(456)		235
Other	94		(77)		17
Total	$	3,954	$	(2,210)	$	1,744
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