Morgan Stanley 2010 Annual Report Download - page 191

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Goodwill.
Changes in the carrying amount of the Company’s goodwill, net of accumulated impairment losses for 2010 and
2009, were as follows:
Institutional
Securities(1)
Global
Wealth
Management
Group
Asset
Management Total
(dollars in millions)
Goodwill at December 31, 2008 ........................ $813 $ 272 $1,171 $2,256
Foreign currency translation adjustments and other .......... 13 — — 13
Goodwill acquired during the year(2) ..................... — 5,346 — 5,346
Goodwill disposed of during the year(3) ................... (453) — — (453)
Goodwill at December 31, 2009(4)(5) ................... $373 $5,618 $1,171 $7,162
Foreign currency translation adjustments and other .......... 10 (2) — 8
Goodwill disposed of during the year(6) ................... — — (404) (404)
Impairment losses(7) .................................. — — (27) (27)
Goodwill at December 31, 2010(5) ...................... $383 $5,616 $ 740 $6,739
(1) The amount of goodwill related to MSCI was $437 million at December 31, 2008.
(2) Global Wealth Management Group business segment activity primarily represents goodwill acquired in connection with Smith Barney
and Citi Managed Futures (see Note 3).
(3) Institutional Securities business segment activity primarily represents goodwill disposed of in connection with MSCI (see Note 25).
(4) The Asset Management business segment amount at December 31, 2009 included approximately $404 million related to Retail Asset
Management.
(5) The amount of the Company’s goodwill before accumulated impairments of $700 million and $673 million at December 31, 2010 and
December 31, 2009, respectively, was $7,439 million and $7,835 million at December 31, 2010 and December 31, 2009, respectively.
(6) The Asset Management activity represents goodwill disposed of in connection with the sale of Retail Asset Management (see Note 1).
(7) The Asset Management activity represents impairment losses related to FrontPoint (see Note 28 for further information on FrontPoint).
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