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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

Note 7. Goodwill and Other Intangible Assets

A summary of the changes in the carrying amount of goodwill is as follows:

 

           CNA   Diamond   Boardwalk   Loews    
      Total       Financial   Offshore   Pipeline   Hotels & Co   Corporate

(In millions)

            

Balance, December 31, 2016

   $         346     $         109         $         -         $         237             $         -         $ -      

Acquisition

     310               310  

Other adjustments

     3       3                                  

Balance, December 31, 2017

     659       112       -       237       -       310  

Acquisition

     8               8  

Other adjustments

     (2     (2                                

Balance, December 31, 2018

   $ 665     $         110     $ -     $         237         $ -     $         318  
                                                  

The increase in the goodwill balance as of December 31, 2017 primarily reflects the acquisition of Consolidated Container in 2017. The increase as of December 31, 2018 reflects the acquisitions made by Consolidated Container in 2018. See Note 2 for further discussion on these acquisitions.

A summary of the net carrying amount of other intangible assets is as follows:

 

     December 31, 2018     December 31, 2017  
               Gross                     Gross             
               Carrying         Accumulated           Carrying          Accumulated      
                Amount         Amortization           Amount          Amortization      

(In millions)

         

Finite-lived intangible assets:

         

Customer relationships

           $ 532         $ 47         $ 518          $         22  

Other

     72       20       74        13  

Total finite-lived intangible assets

     604       67       592        35  

Indefinite-lived intangible assets

     74               81           

Total other intangible assets

           $ 678         $ 67         $ 673          $ 35  
                                   

The balance of finite-lived intangible assets as of December 31, 2017 includes assets from the acquisition of Consolidated Container. The balance as of December 31, 2018 includes assets from acquisitions made by Consolidated Container.

Amortization expense for the years ended December 31, 2018, 2017 and 2016 of $32 million, $20 million and $3 million is reported in Operating expenses and other on the Company’s Consolidated Statements of Income. At December 31, 2018, estimated amortization expense in each of the next five years is approximately $34 million in 2019, $33 million in 2020, $32 million in 2021, $31 million in 2022 and $31 million in 2023.