GOODWILL AND OTHER INTANGIBLES (Tables)

6 Months Ended

Jun. 30, 2014

The following table presents changes in goodwill balances as allocated to each business segment for the six-month period ended June 30, 2014:



In millions	Industrial Packaging		Printing Papers				Consumer Packaging			Distribution			Total
Balance as of January 1, 2014
Goodwill	$	3,430	$	2,311			$	1,787		$	400		$	7,928
Accumulated impairment losses (a)	—		(1,877		)		(1,664		)	(400		)	(3,941		)
	3,430		434				123			—			3,987
Reclassifications and other (b)	14		20				(3		)	—			31
Additions/reductions	—		(11		)	(c)	—			—			(11		)
Balance as of June 30, 2014
Goodwill	3,444		2,320				1,784			400			7,948
Accumulated impairment losses (a)	—		(1,877		)		(1,664		)	(400		)	(3,941		)
Total	$	3,444	$	443			$	120		$	—		$	4,007


(a)	Represents accumulated goodwill impairment charges since the adoption of ASC 350, “Intangibles – Goodwill and Other” in 2002.


(b)	Represents the effects of foreign currency translations and reclassifications.


(c)	Reflects a reduction from tax benefits generated by the deduction of goodwill amortization for tax purposes in Brazil.

Identifiable intangible assets comprised the following:



	June 30, 2014				December 31, 2013
In millions	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships and lists	$	646	$	175	$	602	$	139
Non-compete agreements	78		52		76		46
Tradenames, patents and trademarks	62		40		67		33
Land and water rights	80		8		76		5
Fuel and power agreements	6		3		7		2
Software	24		22		17		15
Other	46		17		75		32
Total	$	942	$	317	$	920	$	272

The Company recognized the following amounts as amortization expense related to intangible assets:



	Three Months Ended June 30,				Six Months Ended June 30,
In millions	2014		2013		2014		2013
Amortization expense related to intangible assets	$	20	$	19	$	40	$	36