Goodwill And Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill And Intangible Assets [Abstract]

Goodwill And Intangible Assets

Note 7. Goodwill and Intangible Assets

Goodwill and indefinite-lived intangible assets, primarily trade names, are not amortized and are subject to assessment for impairment by applying a fair-value based test on an annual basis or more frequently if circumstances indicate a potential impairment. There were no impairment charges recorded in the three months ended March 31, 2021 and 2020. There were no accumulated impairment losses recorded as of March 31, 2021. Customer relationships and Other intangible assets, which primarily includes trade names subject to amortization, are amortized over their respective useful lives.

The table below summarizes the goodwill balances:

(In millions)
Balance as of December 31, 2020	$	2,146
Acquisitions		11
Impact of foreign exchange rates		(5)
Balance as of March 31, 2021	$	2,153

The table below summarizes the other intangible asset balances:

	As of March 31, 2021						As of December 31, 2020
			Accumulated						Accumulated
(In millions)	Gross		Amortization		Net		Gross		Amortization		Net
Trade names(1)	$	888	$	—	$	888	$	888	$	—	$	888
Customer relationships		649		(461)		188		650		(454)		196
Other		71		(45)		26		70		(43)		27
Total	$	1,608	$	(506)	$	1,102	$	1,608	$	(497)	$	1,111

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(1)Not subject to amortization.

For the existing intangible assets, we anticipate amortization expense for the remainder of 2021 and each of the next five years as follows:

(In millions)	2021		2022		2023		2024		2025		2026
Amortization expense	$	29	$	37	$	33	$	25	$	20	$	14