Goodwill and Intangible Assets

3 Months Ended

Apr. 03, 2022

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, 2021 (a)	$	3,039	$	297	$	2,827	$	13,935	$	20,098
Other (b)	(6)		—		18		4		16
April 3, 2022 (a)	$	3,033	$	297	$	2,845	$	13,939	$	20,114

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

(b)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
	April 3, 2022						December 31, 2021
Contract and program intangible assets (b)	$	3,242	$	(1,597)	$	1,645	$	3,239	$	(1,547)	$	1,692
Trade names and trademarks	499		(240)		259		501		(238)		263
Technology and software	70		(49)		21		70		(48)		22
Other intangible assets	64		(63)		1		64		(63)		1
Total intangible assets	$	3,875	$	(1,949)	$	1,926	$	3,874	$	(1,896)	$	1,978

(a)Changes in gross carrying amounts consisted primarily of adjustments for 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 $50 and $55 for the three-month periods ended April 3, 2022, and April 4, 2021, respectively.