GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS

The following table summarizes the activity in goodwill for the periods indicated:


	Three Months Ended March 31, 2024
	MA						MIS						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	$	5,681	$	(12)	$	5,669	$	287	$	—	$	287	$	5,968	$	(12)	$	5,956
Additions/ adjustments (1)	13		—		13		2		—		2		15		—		15
Foreign currency translation adjustments	(61)		—		(61)		(1)		—		(1)		(62)		—		(62)

Ending balance	$	5,633	$	(12)	$	5,621	$	288	$	—	$	288	$	5,921	$	(12)	$	5,909


	Year Ended December 31, 2023
	MA						MIS						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	$	5,474	$	(12)	$	5,462	$	377	$	—	$	377	$	5,851	$	(12)	$	5,839
Additions/ adjustments (2)	90		—		90		(87)		—		(87)		3		—		3
Foreign currency translation adjustments	117		—		117		(3)		—		(3)		114		—		114

Ending balance	$	5,681	$	(12)	$	5,669	$	287	$	—	$	287	$	5,968	$	(12)	$	5,956

(1) The 2024 additions/adjustments primarily relate to certain immaterial acquisitions which were completed in the first quarter of 2024.

(2) The 2023 additions/adjustments primarily relate to a reallocation of goodwill pursuant to a realignment of certain components of the Company's ESG business in the first quarter of 2023.

Acquired intangible assets and related amortization consisted of:


	March 31, 2024		December 31, 2023
Customer relationships	$	2,045	$	2,065
Accumulated amortization	(573)		(556)
Net customer relationships	1,472		1,509
Software/product technology	667		674
Accumulated amortization	(377)		(364)
Net software/product technology	290		310
Database	178		179
Accumulated amortization	(86)		(82)
Net database	92		97
Trade names	198		199
Accumulated amortization	(75)		(72)
Net trade names	123		127
Other (1)	52		52
Accumulated amortization	(46)		(46)
Net other	6		6
Total acquired intangible assets, net	$	1,983	$	2,049

(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:


	Three Months Ended March 31,
	2024		2023
Amortization expense	$	49	$	51