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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired.
The change in the carrying amount of goodwill by segment is shown below:
(in millions)Market IntelligenceRatingsCommodity InsightsMobilityIndicesEngineering SolutionsCorporateTotal
Balance as of December 31, 2021$1,808 $245 $525 $— $376 $— $552 $3,506 
Acquisitions16,556 22 5,009 8,695 1,023 437 — 31,742 
Dispositions(246)— — — — — — (246)
  Reclassifications 1
— — — — — (437)— (437)
Other 2
(8)(10)(12)— — — 10 (20)
Balance as of December 31, 202218,110 257 5,522 8,695 1,399 — 562 34,545 
Acquisitions62 168 — — — 239 
Other 2
11 14 10 — 18 — 13 66 
Balance as of December 31, 2023$18,183 $274 $5,538 $8,863 $1,417 $— $575 $34,850 
1Relates to Engineering Solutions, which is classified as assets held for sale in our consolidated balance sheet as of December 31, 2022.
2Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions.
Goodwill additions and dispositions in the table above relate to transactions discussed in Note 2 - Acquisitions and Divestitures.
Other Intangible Assets
Other intangible assets include both indefinite-lived assets not subject to amortization and definite-lived assets subject to amortization. We have indefinite-lived assets with a carrying value of $846 million as of December 31, 2023 and 2022.
2023 and 2022 both include $380 million and $90 million for Dow Jones Indices intellectual property and the Dow Jones tradename, respectively, that we recorded as part of the transaction to form S&P Dow Jones Indices LLC in 2012.
2023 and 2022 both include $185 million within our Market Intelligence segment for the SNL tradename.
2023 and 2022 both include $132 million within our Indices segment for the balance of the IP rights in a family of indices derived from the S&P 500, solidifying Indices IP in and to the S&P 500 index family.
2023 and 2022 both include $59 million within our Indices segment for the Goldman Sachs Commodity Index intellectual property and the Broad Market Indices intellectual property.
The following table summarizes our definite-lived intangible assets:
(in millions) 
CostDatabases and softwareContentCustomer relationshipsTradenamesOther intangiblesTotal
Balance as of December 31, 2021$645 $139 $355 $55 $206 $1,400 
   Acquisitions3,774 — 13,377 1,469 17 18,637 
   Dispositions— — — — (5)(5)
    Reclassifications 1
(476)— (257)— — (733)
     Other 2
(2)— (8)— (4)(14)
Balance as of December 31, 20223,941 139 13,467 1,524 214 19,285 
   Acquisitions— — — — 104 104 
     Other 2
— 23 35 
Balance as of December 31, 2023$3,942 $139 $13,490 $1,528 $325 $19,424 
Accumulated amortization
Balance as of December 31, 2021$467 $139 $196 $52 $107 $961 
Current year amortization313 — 482 91 19 905 
     Reclassifications 1
(13)— (22)— — (35)
     Other 2
(2)— — (1)(3)(6)
Balance as of December 31, 2022765 139 656 142 123 1,825 
Current year amortization351 — 545 111 35 1,042 
     Reclassifications— — (2)— — 
     Other 2
— — (1)
Balance as of December 31, 2023$1,116 $139 $1,198 $256 $163 $2,872 
Net definite-lived intangibles:
December 31, 2022$3,176 $— $12,811 $1,382 $91 $17,460 
December 31, 2023$2,826 $— $12,292 $1,272 $162 $16,552 
1Relates to Engineering Solutions, which is classified as assets held for sale in our consolidated balance sheet as of December 31, 2022.
2Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions.

Definite-lived intangible assets are being amortized on a straight-line basis over periods of up to 25 years. The weighted-average life of the intangible assets as of December 31, 2023 is approximately 22 years.
Amortization expense was $1,042 million, $905 million and $96 million for the years ended December 31, 2023, 2022 and 2021, respectively. Expected amortization expense for intangible assets over the next five years for the years ended December 31, assuming no further acquisitions or dispositions, is as follows:
(in millions)20242025202620272028
Amortization expense$1,046 $1,029 $998 $980 $978