Goodwill and other intangible assets

9 Months Ended

Sep. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Note 12. Goodwill and other intangible assets

Reconciliations of the changes in the carrying value of goodwill for the first nine months of 2022 and for the year ended December 31, 2021 follow (in millions).


	September 30, 2022			December 31, 2021
Balance at beginning of year	$	73,875		$	73,734
Business acquisitions		78			353
Other, including foreign currency translation		(618	)		(212	)
Balance at end of period*	$	73,335		$	73,875

* Net of accumulated goodwill impairments of $11.0 billion as of September 30, 2022 and December 31, 2021.

The gross carrying amounts and accumulated amortization of other intangible assets are summarized below (in millions).


	September 30, 2022						December 31, 2021
	Gross carrying amount		Accumulated amortization		Net carrying value		Gross carrying amount		Accumulated amortization		Net carrying value
Insurance and other:
Customer relationships	$	27,337	$	6,957	$	20,380	$	27,335	$	6,450	$	20,885
Trademarks and trade names		5,158		816		4,342		5,176		802		4,374
Patents and technology		4,957		3,741		1,216		4,763		3,484		1,279
Other		3,280		1,480		1,800		3,390		1,442		1,948
	$	40,732	$	12,994	$	27,738	$	40,664	$	12,178	$	28,486
Railroad, utilities and energy:
Customer relationships	$	678	$	421	$	257	$	678	$	396	$	282
Trademarks, trade names and other		1,015		182		833		1,015		146		869
	$	1,693	$	603	$	1,090	$	1,693	$	542	$	1,151

Notes to Consolidated Financial Statements (Continued)

Note 12. Goodwill and other intangible assets (Continued)

Intangible asset amortization expense in the first nine months was $905 million in 2022 and $942 million in 2021. Intangible assets with indefinite lives were $18.4 billion as of September 30, 2022 and $18.5 billion as of December 31, 2021 and primarily related to certain customer relationships and trademarks and trade names.