| Goodwill and intangible assets |
Goodwill and intangible assets Goodwill
The tables below provide a breakdown of goodwill by business segment.
| | | | | | | | | | | | | | | Goodwill by business segment
(in millions) | Securities
Services | Market and Wealth Services | Investment
and Wealth
Management | Consolidated | Balance at Dec. 31, 2025 | | | | | | Goodwill | $ | 7,388 | | $ | 1,481 | | $ | 8,578 | | $ | 17,447 | | | Accumulated impairment losses | — | | — | | (680) | | (680) | | | Net goodwill | $ | 7,388 | | $ | 1,481 | | $ | 7,898 | | $ | 16,767 | | | | | | | Business realignment (a) | (59) | | 59 | | — | | — | | | | | | | | Foreign currency translation | (17) | | (1) | | (18) | | (36) | | | | | | | Balance at June 30, 2026 | | | | | | Goodwill | $ | 7,312 | | $ | 1,539 | | $ | 8,560 | | $ | 17,411 | | | Accumulated impairment losses | — | | — | | (680) | | (680) | | | Net goodwill | $ | 7,312 | | $ | 1,539 | | $ | 7,880 | | $ | 16,731 | |
(a) In the first quarter of 2026, we realigned clients in Managed Accounts Solutions within our lines of business. See Note 16 for additional information.
| | | | | | | | | | | | | | | Goodwill by business segment
(in millions) | Securities
Services | Market and Wealth Services | Investment
and Wealth
Management | Consolidated | Balance at Dec. 31, 2024 | | | | | | Goodwill | $ | 7,331 | | $ | 1,475 | | $ | 8,472 | | $ | 17,278 | | | Accumulated impairment losses | — | | — | | (680) | | (680) | | | Net goodwill | $ | 7,331 | | $ | 1,475 | | $ | 7,792 | | $ | 16,598 | | | | | | | | | | | | | Dispositions | (18) | | — | | — | | (18) | | | Foreign currency translation | 100 | | 9 | | 134 | | 243 | | | | | | | Balance at June 30, 2025 | | | | | | Goodwill | $ | 7,413 | | $ | 1,484 | | $ | 8,606 | | $ | 17,503 | | | Accumulated impairment losses | — | | — | | (680) | | (680) | | | Net goodwill | $ | 7,413 | | $ | 1,484 | | $ | 7,926 | | $ | 16,823 | |
Goodwill impairment testing
The goodwill impairment test is performed at least annually at the reporting unit level. An interim goodwill impairment test is performed when events or circumstances occur that may indicate that it is more likely than not that the fair value of any reporting unit may be less than its carrying value.
In the second quarter of 2026, due to the results of the first quarter 2026 interim goodwill and annual goodwill impairment test and macroeconomic conditions, we performed an interim goodwill impairment test of the Investment Management reporting unit, which had $6.3 billion of allocated goodwill. No additional goodwill impairment was recognized.
In the second quarter of 2026, we also performed our annual goodwill impairment test on the remaining reporting units. As a result of the annual goodwill impairment test, no goodwill impairment was recognized. Intangible assets
The tables below provide a breakdown of intangible assets by business segment.
| | | | | | | | | | | | | | | | | | Intangible assets – net carrying amount by business segment (in millions) | Securities
Services | Market and Wealth Services | Investment
and Wealth
Management | Other | Consolidated | Balance at Dec. 31, 2025 | $ | 164 | | $ | 371 | | $ | 1,438 | | $ | 849 | | $ | 2,822 | | | | | | | | Business realignment (a) | (44) | | 44 | | — | | — | | — | | | Amortization | (11) | | (2) | | (6) | | — | | (19) | | | Foreign currency translation | (1) | | — | | (2) | | — | | (3) | | Balance at June 30, 2026 | $ | 108 | | $ | 413 | | $ | 1,430 | | $ | 849 | | $ | 2,800 | |
(a) In the first quarter of 2026, we realigned clients in Managed Accounts Solutions within our lines of business.
| | | | | | | | | | | | | | | | | | Intangible assets – net carrying amount by business segment (in millions) | Securities
Services | Market and Wealth Services | Investment
and Wealth
Management | Other | Consolidated | Balance at Dec. 31, 2024 | $ | 186 | | $ | 374 | | $ | 1,442 | | $ | 849 | | $ | 2,851 | | | | | | | | | | | | | | | Amortization | (13) | | (1) | | (8) | | — | | (22) | | | Foreign currency translation | 5 | | — | | 15 | | — | | 20 | | Balance at June 30, 2025 | $ | 178 | | $ | 373 | | $ | 1,449 | | $ | 849 | | $ | 2,849 | |
The table below provides a breakdown of intangible assets by type.
| | | | | | | | | | | | | | | | | | | | | | | | | Intangible assets | June 30, 2026 | | Dec. 31, 2025 | | (dollars in millions) | Gross
carrying
amount | Accumulated
amortization | Net
carrying
amount | | Gross
carrying
amount | Accumulated
amortization | Net
carrying
amount | Subject to amortization: (a) | | | | | | | | Customer contracts – Securities Services | $ | 730 | | $ | (623) | | $ | 107 | | | $ | 779 | | $ | (616) | | $ | 163 | | Customer contracts – Market and Wealth Services | 316 | | (273) | | 43 | | | 269 | | (268) | | 1 | | Customer relationships – Investment and Wealth Management | 512 | | (472) | | 40 | | | 512 | | (467) | | 45 | | | Other | 40 | | (16) | | 24 | | | 40 | | (15) | | 25 | | | Total subject to amortization | $ | 1,598 | | $ | (1,384) | | $ | 214 | | | $ | 1,600 | | $ | (1,366) | | $ | 234 | | Not subject to amortization: (b) | | | | | | | | | Trade names | $ | 1,293 | | N/A | $ | 1,293 | | | $ | 1,294 | | N/A | $ | 1,294 | | | Customer relationships | 1,293 | | N/A | 1,293 | | | 1,294 | | N/A | 1,294 | | | Total not subject to amortization | $ | 2,586 | | N/A | $ | 2,586 | | | $ | 2,588 | | N/A | $ | 2,588 | | | Total intangible assets | $ | 4,184 | | $ | (1,384) | | $ | 2,800 | | | $ | 4,188 | | $ | (1,366) | | $ | 2,822 | |
(a) Excludes fully amortized intangible assets. (b) Intangible assets not subject to amortization have an indefinite life. N/A – Not applicable.
Estimated annual amortization expense for current intangibles for the next five years is as follows:
| | | | | | | | | For the year ended
Dec. 31, | Estimated amortization expense (in millions) | | 2026 | | $ | 37 | | | 2027 | | 31 | | | 2028 | | 27 | | | 2029 | | 24 | | | 2030 | | 19 | |
Intangible asset impairment testing
Intangible assets not subject to amortization are tested for impairment annually or more often if events or circumstances indicate they may be impaired.
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