Note 6 Goodwill and Intangible Assets (a) Changeinthecarryingvalueofgoodwillandintangibleassets The following table presents the change in carrying value of goodwill and intangible assets. Effect of changes Balance, Net additions/ Amortization in foreign Balance, (1)(2) As at December 31, 2022 January 1 (disposals) expense exchange rates December 31 Goodwill $ 5,651 $ 255 $ n/a $ 108 $ 6,014 Indefinite life intangible assets Brand 761 – n/a 52 813 (3) Fund management contracts and other 788 228 n/a 32 1,048 1,549 228 n/a 84 1,861 (4) Finite life intangible assets Distribution networks 888 6 47 34 881 Customer relationships 687 – 56 12 643 Software 1,091 192 235 20 1,068 Other 49 7 6 2 52 2,715 205 344 68 2,644 Total intangible assets 4,264 433 344 152 4,505 Total goodwill and intangible assets $ 9,915 $ 688 $ 344 $ 260 $ 10,519 Effect of changes Balance, Net additions/ Amortization in foreign Balance, As at December 31, 2021 January 1 (disposals)(5) expense exchange rates December 31 Goodwill $ 5,714 $ (5) $ n/a $ (58) $ 5,651 Indefinite life intangible assets Brand 764 – n/a (3) 761 (3) Fund management contracts and other 796 (3) n/a (5) 788 1,560 (3) n/a (8) 1,549 (4) Finite life intangible assets Distribution networks 806 131 44 (5) 888 Customer relationships 738 (2) 48 (1) 687 Software 1,059 198 148 (18) 1,091 Other 52 2 6 1 49 2,655 329 246 (23) 2,715 Total intangible assets 4,215 326 246 (31) 4,264 Total goodwill and intangible assets $ 9,929 $ 321 $ 246 $ (89) $ 9,915 (1) In November 2022, the Company acquired control of Manulife TEDA Fund Management Company, LTD. through the purchase of the remaining 51% of shares that it did not already own from its joint venture partner. The transaction included cash consideration of $334 and derecognition of the Company’s previous joint venture interest with a fair value of $321. Goodwill, indefinite life fund management contracts and distribution networks, and finite life management contracts of $255, $185, $52 and $3 were recognized. (2) In January 2022, the Company paid $256 to VietinBank for an extension of the life of the distribution agreement acquired from Aviva Plc in December 2021. (3) Fund management contracts are mostly allocated to Canada WAM and U.S. WAM CGUs with carrying values of $273 (2021 – $273) and $397 (2021 – $371), respectively. (4) Gross carrying amount of finite life intangible assets was $1,517 for distribution networks, $1,146 for customer relationships, $2,736 for software and $136 for other (2021 – $1,456, $1,132, $2,484 and $124), respectively. (5) In December 2021, the Company purchased the Vietnamese operations of Aviva Plc including rights to an exclusive distribution agreement with VietinBank. (b) Goodwillimpairmenttesting The Company completed its annual goodwill impairment testing in the fourth quarter of 2022 by determining the recoverable amounts of its businesses using valuation techniques discussed below (refer to notes 1(f) and 6(c)). The testing indicated that there was no impairment of goodwill in 2022 (2021 – $nil). 174 | 2022AnnualReport | NotestoConsolidatedFinancialStatements