Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table presents the changes in the carrying amount of goodwill:



	Total
Balance at December 31, 2016⁽¹⁾	$	3,778
Foreign currency translation	105
Acquisitions:
MT Business	33
Other	11
Divestiture⁽²⁾	(6		)
Balance at December 31, 2017	$	3,921
Foreign currency translation	(63		)
Balance at December 31, 2018	$	3,858
Foreign currency translation	28
Acquisitions	14
Balance at December 31, 2019	$	3,900

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(1)	Balance at December 31, 2016 has been reduced by $9 to reflect the allocation of goodwill to the sale of XIP, which is accounted for as a discontinued operation. Refer to Note 7 - Divestitures for additional information regarding this divestiture.


(2)	Relates to the sale of Xerox Research Centre Europe in Grenoble, France to Naver. Refer to Note 7 - Divestitures for additional information regarding this divestiture.

Intangible Assets, Net

Net intangible assets were $199 at December 31, 2019. Intangible assets were comprised of the following:



		December 31, 2019						December 31, 2018
	Weighted Average Amortization	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Customer relationships	10 years	$	140	$	86	$	54	$	317	$	263	$	54
Distribution network	25 years	123		99		24		123		93		30
Trademarks	20 years	258		146		112		260		133		127
Technology and non-compete	12 years	18		9		9		15		6		9
Total Intangible Assets		$	539	$	340	$	199	$	715	$	495	$	220

The decrease in the gross carrying amount of customer relationships from December 31, 2018 is due to certain balances being fully amortized at December 31, 2019. Amortization expense related to intangible assets was $45, $48, and $53 for the three years ended December 31, 2019, 2018 and 2017, respectively. Excluding the impact of additional acquisitions, amortization expense is expected to approximate $36 in 2020 and in 2021, $32 in 2022, $30 in 2023 and $18 in 2024. The decrease from 2023 to 2024 is related to the customer relationships and technology, which will be fully amortized by 2024.