GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in goodwill for the years ended December 31, 2023 and 2022 were as follows:


	2023		2022

Balance, beginning of year	$	7,220	$	7,095
Goodwill acquired during the year	511		121
Adjustments to goodwill	2		4
Balance, end of year	$	7,733	$	7,220

Principally all of the Company’s goodwill as of December 31, 2023 and 2022 was associated with its DIS business.

For the year ended December 31, 2023, goodwill acquired was principally associated with the acquisitions of Haystack and select assets of the laboratory services business of New York-Presbyterian (see Note 6). For the year ended December 31, 2023, adjustments to goodwill related to foreign currency translation.

For the year ended December 31, 2022, goodwill acquired was principally associated with the acquisition of Pack Health (see Note 6). For the year ended December 31, 2022, adjustments to goodwill related to an adjustment of the purchase price allocation for Labtech, partially offset by foreign currency translation.

Intangible assets as of December 31, 2023 and 2022 consisted of the following:


	Weighted Average Amortization Period (in years)	2023						2022
		Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizing intangible assets:
Customer-related	17	$	1,656	$	(924)	$	732	$	1,623	$	(832)	$	791

Technology	15	284		(90)		194		138		(81)		57
Other	8	114		(110)		4		114		(106)		8
Total		2,054		(1,124)		930		1,875		(1,019)		856

Intangible assets not subject to amortization:
Trade names		235		—		235		235		—		235
Other		1		—		1		1		—		1
Total intangible assets		$	2,290	$	(1,124)	$	1,166	$	2,111	$	(1,019)	$	1,092

During the fourth quarter of the year ended December 31, 2023, the Company recorded a $29 million impairment charge on certain long-lived assets related to the shutdown of a business. Such charge principally related to customer-related intangible assets. See Note 5 for further discussion.

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of December 31, 2023 is as follows:


Year Ending December 31,
2024	$	113
2025	112
2026	107
2027	96
2028	83
Thereafter	419
Total	$	930