TRUIST FINANCIAL CORPTFC

TRUIST FINANCIAL CORP Goodwill & Intangibles Disclosure

10-KFiled Feb 24, 20262 min read
Goodwill and Other Intangible Assets
The Company performed quantitative goodwill impairment analyses for its CSBB, WB, excluding Wealth, and Wealth reporting units as of October 1, 2025. Based on the results of the impairment analyses, the Company concluded that the fair values of the CSBB, WB, and Wealth reporting units exceeded their respective carrying values; therefore, there was no goodwill impairment. However, for the WB reporting unit, the fair value of the reporting unit exceeded its carrying value by slightly more than 10%, indicating that the goodwill of the WB reporting unit may remain at risk of impairment. The fair values of the CSBB, WB, and Wealth reporting units were estimated using the income approach and a market-based approach, weighted 50% and 50%, respectively. The Company monitored events and circumstances during the period from October 1, 2025 to December 31, 2025, including macroeconomic and market factors, industry and banking sector events, Truist specific performance indicators, a comparison of management’s forecast and assumptions to those used in its October 1, 2025 quantitative valuations, and the sensitivity of the October 1, 2025 quantitative results to changes in assumptions as of December 31, 2025. Based on these considerations, Truist concluded that it was not more-likely-than-not that the fair value of one or more of its reporting units is below its respective carrying amount as of December 31, 2025. Refer to “Note 1. Basis of Presentation” for additional information.

The changes in the carrying amount of goodwill attributable to operating segments are reflected in the table below. Activity during 2024 primarily relates to the segment realignment of the Wealth business into the WB segment and the divestiture of Sterling Capital Management, LLC. Refer to “Note 21. Operating Segments” for additional information on segments.

(Dollars in millions)CSBBWBTotal
Goodwill, January 1, 2024(1)
$13,503 $3,653 $17,156 
Segment realignment(1,498)1,498 — 
Divestitures— (32)(32)
Adjustments and other— 1 1 
Goodwill, December 31, 2024(1)
12,005 5,120 17,125 
Goodwill, December 31, 2025(1)
$12,005 $5,120 $17,125 
(1)Includes accumulated impairment losses of $3.4 billion in the CSBB segment and $2.7 billion in the WB segment.
The following table, which excludes fully amortized intangibles, presents information for identifiable intangible assets:

 December 31, 2025December 31, 2024
(Dollars in millions)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
CDI$2,242 $(1,796)$446 $2,453 $(1,837)$616 
Other, primarily client relationship intangibles
1,437 (627)810 1,458 (524)934 
Total$3,679 $(2,423)$1,256 $3,911 $(2,361)$1,550 
The following table presents the estimated amortization expense of identifiable intangibles as of December 31, 2025 for the next five years and thereafter:

(Dollars in millions)20262027202820292030Thereafter
Estimated amortization expense$252 $222 $196 $170 $80 $336 

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Feb 28, 2023
2021Feb 23, 2022
2020Feb 24, 2021
2019Mar 3, 2020
2018Feb 26, 2019
2017Feb 21, 2018
2016Feb 21, 2017
2015Feb 25, 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.

Other Available Disclosures

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