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Goodwill and Other Intangibles
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles Goodwill and Other Intangibles
Goodwill

Below is a summary of the changes in the carrying amount of goodwill by segment for the years ended December 31, 2021 and 2020:
In millionsHealth Care
Benefits		Pharmacy
Services		Retail/
LTC		Total
Balance at December 31, 2019$45,361 $23,581 $10,807 $79,749 
Acquisitions274 34 — 308 
Divestiture of Workers’ Compensation business(505)— — (505)
Balance at December 31, 202045,130 23,615 10,807 79,552 
Impairment— — (431)(431)
Balance at December 31, 2021$45,130 $23,615 $10,376 $79,121 

During the year ended December 31, 2021, the decrease in the carrying amount of goodwill was primarily driven by a goodwill impairment charge related to the LTC reporting unit within the Retail/LTC segment. During the year ended December 31, 2020, the decrease in the carrying amount of goodwill was primarily driven by the divestiture of the Workers’ Compensation business, partially offset by goodwill associated with immaterial acquisitions. See Note 2 ‘‘Divestitures’’ for further discussion regarding the Workers’ Compensation business divestiture.

During the third quarter of 2021, the Company performed its required annual impairment tests of goodwill. The results of the impairment tests indicated an impairment of the goodwill associated with the LTC reporting unit, as the reporting unit’s carrying value exceeded its fair value as of the testing date. The results of the impairment tests of the remaining reporting units indicated that there was no impairment of goodwill as of the testing date.

During 2021, the LTC reporting unit has continued to face challenges that have impacted the Company’s ability to grow the LTC reporting unit’s business at the rate estimated when its 2020 goodwill impairment test was performed. These challenges include lower net facility admissions, net long-term care facility customer losses and the prolonged adverse impact of the COVID-19 pandemic and the emerging new variants, which resulted in more significant declines in occupancy rates experienced by the Company’s long-term care facility customers than previously anticipated. During the third quarter of 2021, LTC management updated their 2021 annual forecast and submitted their long-term plan which showed deterioration in the financial results for the remainder of 2021 and beyond. The Company utilized these updated projections in performing its annual impairment test, which indicated that the fair value of the LTC reporting unit was lower than its carrying value, resulting in a $431 million goodwill impairment charge in the third quarter of 2021. The fair value of the LTC reporting unit was determined using a combination of a discounted cash flow method and a market multiple method. As of December 31, 2021, there was no remaining goodwill balance in the LTC reporting unit. During the third quarter of 2021, the Company also performed an impairment test of the intangible assets of the LTC reporting unit and concluded these assets were not impaired. As of December 31, 2021, there was $2.7 billion of intangible assets related to customer lists in the LTC reporting unit.
During the third quarter of 2020, the Company performed its required annual impairment tests of goodwill. The results of the impairment tests indicated that there was no impairment of goodwill.

At December 31, 2021 and 2020, cumulative goodwill impairments were $6.6 billion and $6.1 billion, respectively.

Intangible Assets

The following table is a summary of the Company’s intangible assets as of December 31, 2021 and 2020:
In millions, except weighted average lifeGross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted
Average
Life (years)
2021
Trademarks (indefinite-lived)$10,498 $— $10,498 N/A
Customer contracts/relationships and covenants not to compete25,084 (10,564)14,520 15.0
Technology1,060 (1,060)— 3.0
Provider networks4,203 (651)3,552 20.0
Value of Business Acquired 590 (173)417 20.0
Other318 (279)39 8.4
Total $41,753 $(12,727)$29,026 15.3
2020
Trademarks (indefinite-lived)$10,498 $— $10,498 N/A
Customer contracts/relationships and covenants not to compete24,952 (8,923)16,029 14.9
Technology1,060 (739)321 3.0
Provider networks4,203 (440)3,763 20.0
Value of Business Acquired 590 (119)471 20.0
Other320 (260)60 7.7
Total$41,623 $(10,481)$31,142 15.2

Amortization expense for intangible assets totaled $2.3 billion, $2.3 billion and $2.4 billion for the years ended December 31, 2021, 2020 and 2019, respectively. The projected annual amortization expense for the Company’s intangible assets for the next five years is as follows:
In millions
2022$1,858 
20231,826 
20241,785 
20251,734 
20261,494