Bank of New York Mellon CorpBNY
Bank of New York Mellon Corp Goodwill & Intangibles Disclosure
Goodwill and intangible assets
Goodwill
The table below provides a breakdown of goodwill by business segment.
Goodwill by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Consolidated | ||||||||||
Balance at Dec. 31, 2024 | ||||||||||||||
| Goodwill | $ | 7,331 | $ | 1,475 | $ | 8,472 | $ | 17,278 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,331 | $ | 1,475 | $ | 7,792 | $ | 16,598 | ||||||
| Dispositions | (18) | — | — | (18) | ||||||||||
| Foreign currency translation | 88 | 6 | 106 | 200 | ||||||||||
Other | (13) | — | — | (13) | ||||||||||
Balance at Dec. 31, 2025 | ||||||||||||||
| Goodwill | $ | 7,388 | $ | 1,481 | $ | 8,578 | $ | 17,447 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,388 | $ | 1,481 | $ | 7,898 | $ | 16,767 | ||||||
Goodwill by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Consolidated | ||||||||||
Balance at Dec. 31, 2023 | ||||||||||||||
| Goodwill | $ | 7,004 | $ | 1,429 | $ | 8,508 | $ | 16,941 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,004 | $ | 1,429 | $ | 7,828 | $ | 16,261 | ||||||
Business realignment (a) | (51) | 48 | 3 | — | ||||||||||
| Acquisition | 426 | — | — | 426 | ||||||||||
| Foreign currency translation | (48) | (2) | (39) | (89) | ||||||||||
Balance at Dec. 31, 2024 | ||||||||||||||
| Goodwill | $ | 7,331 | $ | 1,475 | $ | 8,472 | $ | 17,278 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,331 | $ | 1,475 | $ | 7,792 | $ | 16,598 | ||||||
(a) In 2024, we made certain realignments of similar products and services within our lines of business.
Goodwill impairment testing
The goodwill impairment test is performed at least annually at the reporting unit level. BNY’s business segments include seven reporting units for which goodwill impairment testing is performed. An interim goodwill impairment test is performed when events or circumstances occur that may indicate that it is more likely than not that the fair value of any reporting unit may be less than its carrying value.
In each quarter of 2025, we completed an interim goodwill impairment test of the Investment Management reporting unit, which had $6.3 billion of allocated goodwill as of Dec. 31, 2025. In all cases, we determined the fair value of the Investment Management reporting unit exceeded its carrying value and no goodwill impairment was recorded.
For the Dec. 31, 2025 interim goodwill impairment test, the fair value of the Investment Management reporting unit exceeded its carrying value by approximately 10%. We determined the fair value of the Investment Management reporting unit using an income approach based on management’s projections as of Dec. 31, 2025. The discount rate applied to these cash flows was 10%.
The cash flow estimates for the Investment Management reporting unit are impacted by projections of the level and mix of assets under management, market values, operating margins and long-term growth rates.
In the second quarter of 2025, we performed our annual goodwill impairment test on the remaining six reporting units using an income approach to estimate the fair values of each reporting unit. Estimated cash flows used in the income approach were based on management’s projections as of April 1, 2025. The discount rate applied to these cash flows was 10%.
As a result of the annual goodwill impairment test, no goodwill impairment was recognized. The fair values of the Company’s remaining six reporting units were substantially in excess of the respective reporting units’ carrying value.
Determining the fair value of a reporting unit is subject to uncertainty as it is reliant on estimates of cash flows that extend far into the future, and, by their nature, are difficult to estimate over such an extended time frame. In the future, changes in the assumptions or the discount rate could produce a material non-cash goodwill impairment.
Intangible assets
The table below provides a breakdown of intangible assets by business segment.
Intangible assets – net carrying amount by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated | ||||||||||||
Balance at Dec. 31, 2023 | $ | 164 | $ | 378 | $ | 1,463 | $ | 849 | $ | 2,854 | |||||||
| Acquisition | 53 | — | — | — | 53 | ||||||||||||
| Amortization | (28) | (4) | (18) | — | (50) | ||||||||||||
| Foreign currency translation | (3) | — | (3) | — | (6) | ||||||||||||
Balance at Dec. 31, 2024 | $ | 186 | $ | 374 | $ | 1,442 | $ | 849 | $ | 2,851 | |||||||
| Amortization | (27) | (3) | (15) | — | (45) | ||||||||||||
| Foreign currency translation | 5 | — | 11 | — | 16 | ||||||||||||
Balance at Dec. 31, 2025 | $ | 164 | $ | 371 | $ | 1,438 | $ | 849 | $ | 2,822 | |||||||
The table below provides a breakdown of intangible assets by type.
| Intangible assets | Dec. 31, 2025 | Dec. 31, 2024 | |||||||||||||||||||||
| (dollars in millions) | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | |||||||||||||||||
Subject to amortization (a): | |||||||||||||||||||||||
| Customer contracts—Securities Services | $ | 779 | $ | (616) | $ | 163 | $ | 779 | $ | (593) | $ | 186 | |||||||||||
| Customer contracts—Market and Wealth Services | 269 | (268) | 1 | 269 | (266) | 3 | |||||||||||||||||
| Customer relationships—Investment and Wealth Management | 512 | (467) | 45 | 553 | (495) | 58 | |||||||||||||||||
| Other | 40 | (15) | 25 | 42 | (14) | 28 | |||||||||||||||||
| Total subject to amortization | $ | 1,600 | $ | (1,366) | $ | 234 | $ | 1,643 | $ | (1,368) | $ | 275 | |||||||||||
Not subject to amortization (b): | |||||||||||||||||||||||
| Tradenames | $ | 1,294 | N/A | $ | 1,294 | $ | 1,291 | N/A | $ | 1,291 | |||||||||||||
| Customer relationships | 1,294 | N/A | 1,294 | 1,285 | N/A | 1,285 | |||||||||||||||||
| Total not subject to amortization | $ | 2,588 | N/A | $ | 2,588 | $ | 2,576 | N/A | $ | 2,576 | |||||||||||||
| Total intangible assets | $ | 4,188 | $ | (1,366) | $ | 2,822 | $ | 4,219 | $ | (1,368) | $ | 2,851 | |||||||||||
(a) Excludes fully amortized intangible assets.
(b) Intangible assets not subject to amortization have an indefinite life.
N/A – Not applicable.
Estimated annual amortization expense for current intangibles for the next five years is as follows:
| For the year ended Dec. 31, | Estimated amortization expense (in millions) | |||||||
| 2026 | $ | 37 | ||||||
| 2027 | 31 | |||||||
| 2028 | 27 | |||||||
| 2029 | 24 | |||||||
| 2030 | 19 | |||||||
Intangible asset impairment testing
Intangible assets not subject to amortization are tested for impairment annually or more often if events or circumstances indicate they may be impaired.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 26, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.