Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

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 for each of our goodwill reporting units:

(In millions)	Investment Servicing		Investment Management		Total
Goodwill:
Ending balance December 31, 2022	$	7,232	$	263	$	7,495
Acquisitions	44		—		44
Foreign currency translation	70		2		72
Ending balance December 31, 2023	7,346		265		7,611
Acquisitions(1)	189		—		189
Foreign currency translation	(107)		(2)		(109)
Ending balance December 31, 2024	$	7,428	$	263	$	7,691

(1) Investment Servicing includes the impact of the consolidation of one of our joint ventures in India.

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, 2022	$	1,495	$	49	$	1,544
Amortization	(217)		(22)		(239)
Foreign currency translation	15		—		15
Ending balance December 31, 2023	1,293		27		1,320
Acquisitions	7		13		20
Amortization	(216)		(14)		(230)
Foreign currency translation	(21)		—		(21)
Ending balance December 31, 2024	$	1,063	$	26	$	1,089

    

The following tables present the gross carrying amount, accumulated amortization and net carrying amount of other intangible assets by type as of the dates indicated:

December 31, 2024	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(In millions)
Other intangible assets:
Client relationships	$	2,706	$	(1,919)	$	787
Technology	401		(252)		149
Core deposits	677		(540)		137
Other	95		(79)		16
Total	$	3,879	$	(2,790)	$	1,089
December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(In millions)
Other intangible assets:
Client relationships	$	2,761	$	(1,808)	$	953
Technology	402		(216)		186
Core deposits	690		(516)		174
Other	85		(78)		7
Total	$	3,938	$	(2,618)	$	1,320

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Expected future amortization expense for other intangible assets recorded as of December 31, 2024 is as follows:

(In millions)	Future Amortization
Years Ended December 31,
2025	$	225
2026	202
2027	168
2028	122
2029	64