Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible AssetsThe following table presents the changes in the carrying amount of goodwill for each of the three years in the period ended December 31, 2022:

	General rentals		Specialty		Total
Balance at January 1, 2020 (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
Goodwill related to acquisitions (2) (3)	549		(20)		529
Foreign currency translation and other adjustments	(14)		(17)		(31)
Balance at December 31, 2022 (1)	$	4,980	$	1,046	$	6,026

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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 in 2021, and on the December 2022 acquisition of Ahern Rentals, which was primarily assigned to our general rentals segment and accounted for most of the goodwill related to acquisitions in 2022, see note 4 to our consolidated financial statements. The negative goodwill related to acquisitions for the Specialty segment in 2022 primarily reflects measurement period adjustments associated with the General Finance acquisition, partially offset by other acquisition activity.

Other intangible assets were comprised of the following at December 31, 2022 and 2021:  

	December 31, 2022
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
Non-compete agreements	3 years	$	69	$	22	$	47
Customer relationships	5 years	$	2,349	$	1,949	$	400
Trade names and associated trademarks	3 years	$	14	$	9	$	5

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

As discussed in note 4 to our consolidated financial statements, on December 7, 2022, we completed the acquisition of Ahern Rentals. We have not yet obtained all the information required to finalize the valuations of the assets acquired and liabilities assumed, and to establish the value of the potential intangible assets, primarily because of the proximity of the acquisition date to the balance sheet date of December 31, 2022. As such, we have not yet recorded, as of December 31, 2022, any intangible assets associated with the acquisition.

Amortization expense for other intangible assets was $219, $233 and $250 for the years ended December 31, 2022, 2021 and 2020, respectively.

As of December 31, 2022, estimated amortization expense for other intangible assets for each of the next five years and thereafter was as follows: 

2023	$	165
2024	119
2025	86
2026	52
2027	20
Thereafter	10
Total	$	452