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 June 30, 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


	June 30, 2026
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	31,866	N/A		$	31,866
Other intangible assets (definite lived):
Purchased credit card relationships	10,469		$	(2,092)	8,377
Network and financial partner relationships	1,500		(151)		1,349
Core deposit	1,100		(219)		881
Other(1)	612		(120)		492
Total other intangible assets (definite lived):	13,681		(2,582)		11,099
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	18,659		(2,582)		16,077
Total goodwill and other intangible assets	$	50,525	$	(2,582)	$	47,943
Commercial MSRs	$	648	$	(362)	$	286

	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, supplier, merchant, and sponsor relationships, as well as brand / trade name intangibles.

(2)Consists of license and domain names.

Amortization expense for intangible assets, which is presented separately in our consolidated statements of income, totaled $507 million and $999 million for the three and six months ended June 30, 2026, respectively. The following table summarizes the estimated future amortization expense for intangible assets as of June 30, 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 July 1, 2026 and December 31, 2026	$	1,014
Estimated future amounts for the year ending December 31,
2027	1,842
2028	1,654
2029	1,468
2030	1,281
2031	1,094
Thereafter	2,746
Total estimated future amounts	$	11,099

The following table presents changes in the carrying amount of goodwill by each of our business segments for June 30, 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
Acquisitions	2,653		710		—		3,363

Other adjustments(1)	(6)		—		—		(6)
Balance as of June 30, 2026	$	14,562	$	12,250	$	5,054	$	31,866

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(1)Represents foreign currency translation adjustments.