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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 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(1)
Investment
Management
Total
Goodwill:
Ending balance December 31, 2020$7,413 $270 $7,683 
Acquisitions(2)
66 — 66 
Divestitures(3)
(17)— (17)
Foreign currency translation(108)(3)(111)
Ending balance December 31, 20217,354 267 7,621 
Acquisitions(2)
3  3 
Foreign currency translation(125)(4)(129)
Ending balance December 31, 2022$7,232 $263 $7,495 
(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.
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, 2020$1,733 $94 $1,827 
Acquisitions(2)
264 — 264 
Amortization(221)(24)(245)
Foreign currency translation(30)— (30)
Ending balance December 31, 20211,746 70 1,816 
Amortization(217)(21)(238)
Foreign currency translation(34) (34)
Ending balance December 31, 2022$1,495 $49 $1,544 
(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, 2022Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
(In millions)
Other intangible assets:
Client relationships
$2,728 $(1,626)$1,102 
Technology
402 (178)224 
Core deposits
683 (477)206 
Other
84 (72)12 
Total
$3,897 $(2,353)$1,544 
December 31, 2021Gross Carrying AmountAccumulated AmortizationNet 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 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Expected future amortization expense for other intangible assets recorded as of December 31, 2022 is as follows:
(In millions)Future Amortization
Years Ended December 31,
2023$241 
2024238 
2025210 
2026201 
2027167