INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL

The Company's intangible assets at June 30, 2023 and December 31, 2022 consist of the following (in millions): 

	June 30, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Amortization Period
Supply and distribution agreements	$	1,397	$	(711)	$	686	$	1,386	$	(658)	$	728	3 - 20 years
Technology	286		(202)		84		287		(185)		102		2 - 7 years
Trade names	1,810		(862)		948		1,806		(812)		994		3 - 20 years
Other intangible assets	44		(40)		4		43		(38)		5		Up to 20 years
Total intangible assets	$	3,537	$	(1,815)	$	1,722	$	3,522	$	(1,693)	$	1,829

Intangible assets are amortized on a straight-line basis. Amortization expense was $56 million and $111 million for the three and six months ended June 30, 2023, respectively, and $56 million and $112 million for the three and six months ended June 30, 2022, respectively.

The balance of goodwill as of June 30, 2023 and December 31, 2022 is stated net of cumulative impairment charges of $2.0 billion.