GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETSThe following table summarizes the activity in goodwill:

	Year Ended December 31, 2021
	MIS						MA						Consolidated
	Gross goodwill		Accumulated impairment charge		Net goodwill		Gross goodwill		Accumulated impairment charge		Net goodwill		Gross goodwill		Accumulated impairment charge		Net goodwill
Balance at beginning of year	$	311	$	—	$	311	$	4,257	$	(12)	$	4,245	$	4,568	$	(12)	$	4,556
Additions/ adjustments (1)	90		—		90		1,525		—		1,525		1,615		—		1,615
Foreign currency translation adjustments	(5)		—		(5)		(167)		—		(167)		(172)		—		(172)
Ending Balance	$	396	$	—	$	396	$	5,615	$	(12)	$	5,603	$	6,011	$	(12)	$	5,999

	Year Ended December 31, 2020
	MIS						MA						Consolidated
	Gross goodwill		Accumulated impairment charge		Net goodwill		Gross goodwill		Accumulated impairment charge		Net goodwill		Gross goodwill		Accumulated impairment charge		Net goodwill
Balance at beginning of year	$	315	$	—	$	315	$	3,419	$	(12)	$	3,407	$	3,734	$	(12)	$	3,722
Additions/ adjustments (2)	(2)		—		(2)		628		—		628		626		—		626
Foreign currency translation adjustments	(2)		—		(2)		210		—		210		208		—		208
Ending balance	$	311	$	—	$	311	$	4,257	$	(12)	$	4,245	$	4,568	$	(12)	$	4,556

(1) The 2021 additions/adjustments for the MA segment in the table above relate to the acquisitions of Cortera, RMS, RealXData, Bogard, and PassFort. The 2021 additions/adjustments for the MIS segment relate to certain revenue synergies from the RMS acquisition that are expected to benefit the ESG solutions group within the MIS Other LOB.

(2) The 2020 additions/adjustments for the MA segment in the table above relate to the acquisitions of RDC, AM, ZMFS, and Catylist.

Acquired intangible assets and related accumulated amortization consisted of:

	December 31,
	2021		2020
Customer relationships	$	2,101	$	1,623
Accumulated amortization	(381)		(313)
Net customer relationships	1,720		1,310
Software/product technology	663		441
Accumulated amortization	(219)		(177)
Net software/product technology	444		264
Database	179		144
Accumulated amortization	(46)		(29)
Net database	133		115
Trade names	207		161
Accumulated amortization	(47)		(38)
Net trade names	160		123
Other (1)	54		55
Accumulated amortization	(44)		(43)
Net other	10		12
Total	$	2,467	$	1,824

(1)Other intangible assets primarily consist of trade secrets, covenants not to compete, and acquired ratings methodologies and models.

Amortization expense relating to acquired intangible assets is as follows:

	Year Ended December 31,
	2021		2020		2019
Amortization expense	$	158	$	124	$	103

Estimated future annual amortization expense for intangible assets subject to amortization is as follows:

Year Ending December 31,
2022	$	191
2023	189
2024	185
2025	180
2026	177
Thereafter	1,545
Total estimated future amortization	$	2,467

Matters concerning the ICRA reporting unit

ICRA has reported various matters relating to: (i) an adjudication order and fine imposed (and subsequently enhanced) by the Securities and Exchange Board of India (SEBI) in connection with credit ratings assigned to one of ICRA’s customers and the customer’s subsidiaries, which are being appealed by ICRA; (ii) the completion of internal examinations regarding various anonymous complaints, and actions taken by ICRA’s board based on the examinations’ findings; and (iii) a separate internal examination of certain allegations against two former senior ICRA officials. An unfavorable resolution of the aforementioned matters may negatively impact ICRA’s future operating results, which could result in an impairment of goodwill and amortizable intangible assets in future quarters.