GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets and Liabilities Disclosure

Goodwill

The following is a summary of goodwill by segment:

	(In Millions)
	December 31,
	2020		2019
Steelmaking	$	1,232	$	2
Other Businesses	174		—
Total goodwill	$	1,406	$	2

The increase in the balance of goodwill in our Steelmaking segment as of December 31, 2020, compared to December 31, 2019, is due to the preliminary assignment of $1,230 million to Goodwill in 2020 based on the preliminary purchase price allocation for the acquisition of ArcelorMittal USA. The increase in the balance of goodwill for our Other Businesses as of December 31, 2020, compared to December 31, 2019, is due to the preliminary assignment of $174 million to Goodwill in 2020 based on the preliminary purchase price allocation for the acquisition of AK Steel, which was attributable to our Tubular and Tooling and Stamping operating segments.

Intangible Assets and Liabilities

The following is a summary of our intangible assets and liabilities:

		(In Millions)
	Classification1	Gross Amount		Accumulated Amortization		Net Amount
As of December 31, 2020
Intangible assets:
Customer relationships	Other non-current assets	$	77	$	(3)	$	74
Technology	Other non-current assets	60		(3)		57
Trade names and trademarks	Other non-current assets	11		(1)		10
Mining permits	Other non-current assets	72		(25)		47
Total intangible assets		$	220	$	(32)	$	188
Intangible liabilities:
Above-market supply contracts	Other non-current liabilities	$	(71)	$	7	$	(64)
As of December 31, 2019
Intangible assets:
Mining permits	Other non-current assets	$	72	$	(24)	$	48
1 Amortization of intangible liabilities related to above-market supply contracts and intangible assets related to mining permits is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.

Amortization expense related to intangible assets was $8 million and $1 million for the years ended December 31, 2020 and 2019, respectively. Estimated future amortization expense related to intangible assets is $10 million annually for the years 2021 through 2025.    

Income from amortization related to the intangible liabilities was $7 million for the year ended December 31, 2020. Estimated future amortization income related to the intangible liabilities is $8 million annually for the years 2021 through 2025.