Goldman Sachs 2009 Annual Report Download - page 137

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NOTE 11
Goodwill and Identi able Intangible Assets
Goodwill
The following table sets forth the carrying value of the  rm’s goodwill by operating segment, which is included in “Other assets”
in the consolidated statements of  nancial condition:
As of
December November
(inmillions) 2009 2008
Investment Banking
Underwriting $ 125 $ 125
Trading and Principal Investments
FICC 265 247
Equities
(1) 2,389 2,389
Principal Investments 84 80
Asset Management and Securities Services
Asset Management
(2) 563 565
Securities Services 117 117
Total $3,543 $3,523
(1) Primarily related to SLK LLC (SLK).
(2) Primarily related to The Ayco Company, L.P. (Ayco).
Identi able Intangible Assets
The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of the  rm’s
identi able intangible assets:
As of
December November
(inmillions) 2009 2008
Customer lists (1) Gross carrying amount $ 1,117 $ 1,160
Accumulated amortization (472) (436)
Net carrying amount $ 645 $ 724
NYSE DMM rights Gross carrying amount $ 714 $ 714
Accumulated amortization (294) (252)
Net carrying amount $ 420 $ 462
Insurance-related assets (2) Gross carrying amount $ 292 $ 292
Accumulated amortization (142) (137)
Net carrying amount $ 150 $ 1 5 5
Exchange-traded fund (ETF) lead market maker rights Gross carrying amount $ 138 $ 1 3 8
Accumulated amortization (48) (43)
Net carrying amount $ 90 $ 95
Other (3) Gross carrying amount $ 170 $ 17 8
Accumulated amortization (98) (85)
Net carrying amount $ 72 $ 93
Total Gross carrying amount $ 2,431 $2,482
Accumulated amortization (1,054) (953)
Net carrying amount $ 1,377 $1,529
(1) Primarily includes the  rm’s clearance and execution and NASDAQ customer lists related to SLK and  nancial counseling customer lists related to Ayco.
(2) Primarily includes VOBA related to the  rm’s insurance businesses.
(3) Primarily includes marketing-related assets and other contractual rights.
Goldman Sachs 2009 Annual Report
135
Notes to Consolidated Financial Statements