Goodwill and Intangible Assets

6 Months Ended

Jul. 04, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill. The changes in the carrying amount of goodwill by reporting unit were as follows:

	Aerospace		Marine Systems		Combat Systems		Technologies		Total Goodwill
December 31, 2020 (a)	$	3,065	$	297	$	2,786	$	13,905	$	20,053
Acquisitions (b)	27		—		—		—		27
Other (c)	(72)		—		6		7		(59)
July 4, 2021 (a)	$	3,020	$	297	$	2,792	$	13,912	$	20,021

(a)Goodwill in the Technologies reporting unit was net of $1.8 billion of accumulated impairment losses.

(b)Included adjustments during the purchase price allocation period.

(c)Consisted primarily of adjustments for foreign currency translation.

Intangible Assets. Intangible assets consisted of the following:

	Gross Carrying Amount (a)		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount (a)		Accumulated Amortization		Net Carrying Amount
	July 4, 2021						December 31, 2020
Contract and program intangible assets (b)	$	3,406	$	(1,699)	$	1,707	$	3,399	$	(1,600)	$	1,799
Trade names and trademarks	498		(229)		269		516		(229)		287
Technology and software	131		(107)		24		134		(106)		28
Other intangible assets	86		(83)		3		161		(158)		3
Total intangible assets	$	4,121	$	(2,118)	$	2,003	$	4,210	$	(2,093)	$	2,117

(a)Changes in gross carrying amounts consisted primarily of adjustments for write-offs of fully amortized intangible assets, acquired intangible assets and foreign currency translation.

(b)Consisted of acquired backlog and probable follow-on work and associated customer relationships.

Amortization expense is included in operating costs and expenses in the Consolidated Statement of Earnings. Amortization expense for intangible assets was $56 and $111 for the three- and six-month periods ended July 4, 2021, and $65 and $131 for the three- and six-month periods ended June 28, 2020, respectively.