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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Changes in the Carrying Amount of Goodwill by Reporting Segment The changes in the carrying amount of goodwill during the six months ended June 30, 2019 are as follows:

 

 

 

 

 

 

 

(In millions)

 

Balance as of December 31, 2018

 

$

2,654

 

Adjustments to finalize purchase accounting estimates (1)

 

 

168

 

Allocated to APP for disposal

 

 

(90

)

Currency translation adjustments

 

 

(28

)

Balance as of June 30, 2019 (2)

 

$

2,704

 

 

(1)

Includes adjustments of $61 million and $107 million identified in the first and second quarters of 2019, respectively. See Note 3, Business Combination for further discussion.

(2)

At June 30, 2019, we had approximately $2.2 billion of cumulative impairment charges recorded in conjunction with our impairment analysis performed during the fourth quarter of 2018, as further described in the 2018 Form 10-K.  

Schedule of Intangible Assets

Our project-related intangibles at June 30, 2019 and December 31, 2018, including the June 30, 2019 weighted-average useful lives, were as follows:

 

 

 

 

 

 

 

June 30, 2019

 

 

December 31, 2018

 

 

 

Weighted Average Useful Life

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

 

(In years)

 

 

(In millions)

 

Project-related intangible assets

 

 

4

 

 

$

259

 

 

$

(165

)

 

$

94

 

 

$

259

 

 

$

(122

)

 

$

137

 

Project-related intangible liabilities

 

 

2

 

 

 

(109

)

 

 

71

 

 

 

(38

)

 

 

(109

)

 

 

43

 

 

 

(66

)

Total (1)

 

 

 

 

 

$

150

 

 

$

(94

)

 

$

56

 

 

$

150

 

 

$

(79

)

 

$

71

 

 

(1)

The decrease in project-related intangible assets during the six months ended June 30, 2019 primarily related to amortization expense of $16 million and the impact of foreign currency translation.

Our other intangible assets at June 30, 2019 and December 31, 2018, including the June 30, 2019 weighted-average useful lives, were as follows:

 

 

 

 

 

 

 

June 30, 2019

 

 

December 31, 2018

 

 

 

Weighted Average Useful Life

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

 

(In years)

 

 

(In millions)

 

Process technologies

 

 

27

 

 

$

507

 

 

$

(26

)

 

$

481

 

 

$

514

 

 

$

(14

)

 

$

500

 

Trade names

 

 

12

 

 

 

396

 

 

 

(41

)

 

 

355

 

 

 

401

 

 

 

(23

)

 

 

378

 

Customer relationships

 

 

10

 

 

 

124

 

 

 

(35

)

 

 

89

 

 

 

129

 

 

 

(23

)

 

 

106

 

Trademarks

 

 

10

 

 

 

26

 

 

 

(3

)

 

 

23

 

 

 

27

 

 

 

(2

)

 

 

25

 

      Total (1)

 

 

 

 

 

$

1,053

 

 

$

(105

)

 

$

948

 

 

$

1,071

 

 

$

(62

)

 

$

1,009

 

 

(1)

The decrease in other intangible assets during the six months ended June 30, 2019 primarily related to amortization expense of $43 million, intangible assets allocated to the disposal of APP and the impact of foreign currency translation.