Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets at December 31, 2023 and 2022 consisted of the following:


(in millions)	Remaining Weighted- Average Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
At December 31, 2023
Indefinite-lived intangible assets:
Management contracts	N/A	$	16,169	$	—	$	16,169
Trade names/trademarks	N/A		1,403		—		1,403
License	N/A		6		—		6
Total indefinite-lived intangible assets			17,578		—		17,578
Finite-lived intangible assets(1):
Management contracts	3.7		244		156		88
Investor/customer relationships	6.0		785		338		447
Technology-related	4.6		260		118		142
Trade names/trademarks	1.8		9		6		3
Total finite-lived intangible assets	5.4		1,298		618		680
Total intangible assets		$	18,876	$	618	$	18,258

At December 31, 2022
Indefinite-lived intangible assets:
Management contracts	N/A	$	16,169	$	—	$	16,169
Trade names/trademarks	N/A		1,403		—		1,403
License	N/A		6		—		6
Total indefinite-lived intangible assets			17,578		—		17,578
Finite-lived intangible assets:
Management contracts	2.9		177		130		47
Investor/customer relationships	7.0		746		254		492
Technology-related	4.6		261		81		180
Trade names/trademarks	2.6		23		18		5
Total finite-lived intangible assets	6.1		1,207		483		724
Total intangible assets		$	18,785	$	483	$	18,302

N/A – Not Applicable

(1)

In connection with the Kreos Transaction, the Company acquired approximately $67 million of finite-lived management contracts and $39 million of finite-lived investor relationships with weighted-average estimated lives of approximately five and ten years, respectively.

Estimated Amortization Expense for Finite-Lived Intangible Assets

Estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows:


(in millions)
Year	Amount
2024	$	151
2025		143
2026		129
2027		103
2028		83