Goodwill and Other Intangible Assets


NOTE 7—GOODWILL AND OTHER INTANGIBLE ASSETS

The table below presents our goodwill, other intangible assets and MSRs as of March 31, 2026 and December 31, 2025. Goodwill and other intangible assets are presented separately, while MSRs are included in other assets on our consolidated balance sheets.

Table 7.1: Components of Goodwill, Other Intangible Assets and MSRs


	March 31, 2026
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	28,502	N/A		$	28,502
Other intangible assets (definite lived):
Purchased credit card relationships	10,469		$	(1,683)	8,786

Network and financial partner relationships	1,500		(117)		1,383
Core deposit	1,100		(172)		928
Other(1)	115		(103)		12
Total other intangible assets (definite lived):	13,184		(2,075)		11,109
Other intangible assets (indefinite lived):
Discover Network	2,700		N/A		2,700
Brand / Trade names	2,270		N/A		2,270
Other(2)	8		N/A		8
Total other intangible assets (indefinite lived):	4,978		N/A		4,978
Total other intangible assets	18,162		(2,075)		16,087
Total goodwill and other intangible assets	$	46,664	$	(2,075)	$	44,589
Commercial MSRs	$	653	$	(352)	$	301

	December 31, 2025
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	28,509	N/A		$	28,509
Other intangible assets (definite lived):
Purchased credit card relationships	10,469		$	(1,274)	9,195



Network and financial partner relationships	1,500		(84)		1,416
Core deposit	1,100		(125)		975
Other(1)	121		(107)		14
Total other intangible assets (definite lived)	13,190		(1,590)		11,600
Other intangible assets (indefinite lived):
Discover Network	2,700		N/A		2,700
Brand / Trade names	2,270		N/A		2,270
Other(2)	8		N/A		8
Total other intangible assets (indefinite lived)	4,978		N/A		4,978
Total other intangible assets	18,168		(1,590)		16,578
Total goodwill and other intangible assets	$	46,677	$	(1,590)	$	45,087
Commercial MSRs	$	646	$	(343)	$	303

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(1)Primarily consists of intangibles for customer, sponsor and merchant relationships.

(2)Consists of license and domain names.

Amortization expense for intangible assets, which is presented separately in our consolidated statements of income, totaled $492 million for the three months ended March 31, 2026. The following table summarizes the estimated future amortization expense for intangible assets as of March 31, 2026 for the next five fiscal years and thereafter:

Table 7.2: Amortization Expense


(Dollars in millions)	Amortization Expense



Estimated future amounts for the period between April 1, 2026 and December 31, 2026	$	1,472
Estimated future amounts for the year ending December 31,
2027	1,778
2028	1,595
2029	1,412
2030	1,229
2031	1,047
Thereafter	2,576
Total estimated future amounts	$	11,109

The following table presents changes in the carrying amount of goodwill by each of our business segments for March 31, 2026 and December 31, 2025.

Table 7.3: Goodwill by Business Segments


(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total













Balance as of December 31, 2025	$	11,915	$	11,540	$	5,054	$	28,509
Other adjustments(1)	(7)		0		0		(7)
Balance as of March 31, 2026	$	11,908	$	11,540	$	5,054	$	28,502

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(1)Represents foreign currency translation adjustments.