Goodwill and Intangible Assets |
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| Intangible Asset, Goodwill and Other [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets |
Goodwill and Intangible Assets Goodwill
The table below presents goodwill balances by business segment at June 30, 2026 and December 31, 2025. The reporting units utilized for goodwill impairment testing are the operating segments or one level below. The Corporation completed its annual goodwill impairment test as of June 30, 2026 using a qualitative assessment and determined that it was not more likely than not that the fair value of any reporting unit was less than its carrying value. Accordingly, no reporting unit was considered at risk of impairment, and no further testing was required. For more information regarding the nature of and accounting for the Corporation’s annual goodwill impairment testing, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2025 Annual Report on Form 10-K.
Intangible Assets
At both June 30, 2026 and December 31, 2025, the net carrying value of intangible assets was $1.8 billion. At both June 30, 2026 and December 31, 2025, intangible assets included $1.5 billion of intangible assets associated with trade names, substantially all of which had an indefinite life and, accordingly, are not being amortized. Amortization of intangibles expense was $18 million and $20 million for the three months ended June 30, 2026 and 2025 and $38 million and $39 million for the six months ended June 30, 2026 and 2025.
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