v2.4.0.6
Goodwill and Net Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2012
Goodwill and Net Intangible Assets  
Changes in Carrying Amount of Goodwill
  Institutional Securities Global Wealth Management Group Asset Management Total
  (dollars in millions)
Goodwill at December 31, 2011(1)$ 330$ 5,616$ 740$ 6,686
Foreign currency translation adjustments and other   (11)  ─  ─  (11)
Goodwill disposed of during the period(2)  ─  (65)  ─  (65)
Goodwill at June 30, 2012(1)$ 319$ 5,551$ 740$ 6,610

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  • The amount of the Company's goodwill before accumulated impairments of $700 million, which included $673 million related to the Institutional Securities business segment and $27 million related to the Asset Management business segment, was $7,310 million and $7,386 million at June 30, 2012 and December 31, 2011, respectively.
  • The Global Wealth Management Group activity represents goodwill disposed of in connection with the sale of Quilter (see Notes 1 and 20). 

 
Changes in Carrying Amount of Intangible Assets
  Institutional Securities Global Wealth Management Group Asset Management Total
         
  (dollars in millions)
Amortizable net intangible assets at December 31, 2011 $ 229$ 3,641$ 2$ 3,872
Mortgage servicing rights (see Note 6)   122  11  —  133
Indefinite-lived intangible assets  —  280  —  280
Net intangible assets at December 31, 2011$ 351$ 3,932$ 2$ 4,285
Amortizable net intangible assets at December 31, 2011$ 229$ 3,641$ 2$ 3,872
Foreign currency translation adjustments and other   (6)  1  —  (5)
Amortization expense   (8)  (160)  —  (168)
Impairment losses(1)  (4)  —  —  (4)
Intangible assets acquired during the period   4  —  —  4
Amortizable net intangible assets at June 30, 2012  215  3,482  2  3,699
Mortgage servicing rights (see Note 6)   —  8  —  8
Indefinite-lived intangible assets  —  280  —  280
Net intangible assets at June 30, 2012$ 215$ 3,770$ 2$ 3,987

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  • Impairment losses are recorded within Other expenses.