Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in carrying amount of goodwill

The following table presents the changes in the carrying amount of goodwill for each of the three years in the period ended December 31, 2021:  

	General rentals		Specialty		Total
Balance at January 1, 2019 (1)	$	4,342	$	716	$	5,058
Goodwill related to acquisitions (2)	10		73		83
Foreign currency translation and other adjustments	10		3		13
Balance at December 31, 2019 (1)	4,362		792		5,154
Goodwill related to acquisitions (2)	1		(3)		(2)
Foreign currency translation and other adjustments	5		11		16
Balance at December 31, 2020 (1)	4,368		800		5,168
Goodwill related to acquisitions (2) (3)	76		295		371
Foreign currency translation and other adjustments	1		(12)		(11)
Balance at December 31, 2021 (1)	$	4,445	$	1,083	$	5,528

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(1)    The total carrying amount of goodwill for all periods in the table above is reflected net of $1.557 billion of accumulated impairment charges, which were primarily recorded in our general rentals segment.

(2)    Includes goodwill adjustments for the effect on goodwill of changes to net assets acquired during the measurement period, which were not significant to our previously reported operating results or financial condition.

(3)    For additional detail on the May 2021 acquisition of General Finance, which was assigned to our specialty segment and accounted for most of the goodwill related to acquisitions, see note 4 to our consolidated financial statements.

Components of intangible assets

Other intangible assets were comprised of the following at December 31, 2021 and 2020:  

	December 31, 2021
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
Non-compete agreements	51 months	$	65	$	13	$	52
Customer relationships	5 years	$	2,389	$	1,835	$	554
Trade names and associated trademarks	4 years	$	15	$	6	$	9

	December 31, 2020
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
Non-compete agreements	35 months	$	12	$	6	$	6
Customer relationships	6 years	$	2,252	$	1,614	$	638
Trade names and associated trademarks	4 years	$	8	$	4	$	4

Our other intangibles assets, net at December 31, 2021 include the following assets associated with the acquisition of General Finance discussed in note 4 to our consolidated financial statements. No residual value has been assigned to these assets, which are being amortized using the sum of the years' digits method, which we believe best reflects the estimated pattern in which the economic benefits will be consumed. The intangible asset values are based on preliminary valuations and are subject to change as we obtain additional information during the acquisition measurement period, although we do not expect material future changes.

	December 31, 2021
	Weighted-Average Remaining Amortization Period	Net Carrying Amount
Customer relationships	6 years	$	74
Trade names and associated trademarks	4 years	$	5

Estimated future amortization expense of intangible assets

As of December 31, 2021, estimated amortization expense for other intangible assets for each of the next five years and thereafter was as follows: 

2022	$	205
2023	156
2024	109
2025	78
2026	44
Thereafter	23
Total	$	615