Goodwill and Intangible Assets

12 Months Ended

Jan. 02, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill by segment are as follows:


(In millions)	Textron Aviation		Bell		Textron Systems		Industrial		Total
Balance at December 29, 2018	$	614	$	31	$	1,100	$	473	$	2,218
Disposition (a)	—		—		(71)		—		(71)
Acquisition	—		—		4		—		4
Foreign currency translation	—		—		—		(1)		(1)
Balance at January 4, 2020	614		31		1,033		472		2,150
Acquisitions	4		4		—		—		8
Reclassifications (b)	12		—		(24)		—		(12)
Foreign currency translation	1		—		—		10		11
Balance at January 2, 2021	$	631	$	35	$	1,009	$	482	$	2,157

(a)See Note 7 for additional information.

(b)Reclassifications include $12 million of goodwill classified as held for sale in connection with a business disposition described in Note 2 and amounts transferred between segments.

Intangible Assets

Our intangible assets are summarized below:


		January 2, 2021						January 4, 2020
(Dollars in millions)	Weighted-Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Patents and technology	14	$	484	$	(263)	$	221	$	501	$	(242)	$	259
Trade names and trademarks	14	182		(8)		174		223		(8)		215
Customer relationships and contractual agreements	15	412		(318)		94		413		(298)		115
Other	4	6		(6)		—		6		(6)		—
Total		$	1,084	$	(595)	$	489	$	1,143	$	(554)	$	589

Trade names and trademarks in the table above include $169 million and $208 million of indefinite-lived intangible assets at January 2, 2021 and January 4, 2020, respectively. In 2020, we recognized $47 million of intangible asset impairment charges, primarily related to indefinite-lived assets as discussed in Note 17. Amortization expense totaled $54 million, $59 million and $66 million in 2020, 2019 and 2018, respectively. Amortization expense is estimated to be approximately $51 million, $51 million, $35 million, $32 million and $30 million in 2021, 2022, 2023, 2024 and 2025, respectively.