Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

10.  Goodwill and Intangible Assets, Net

Goodwill consists of the following:

	March 31, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Impairment		Value		Amount		Impairment		Value
	(in millions)
Automotive	$	337	$	(87)	$	250	$	337	$	(87)	$	250
Food Packaging		6		—		6		6		—		6
Home Fashion		22		(3)		19		22		(3)		19
Pharma		13		—		13		13		—		13
	$	378	$	(90)	$	288	$	378	$	(90)	$	288

Intangible assets, net consists of the following:

	March 31, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Amortization		Value		Amount		Amortization		Value
	(in millions)
Definite-lived intangible assets:
Customer relationships	$	392	$	(234)	$	158	$	392	$	(229)	$	163
Developed technology		254		(97)		157		254		(90)		164
Other		164		(103)		61		164		(101)		63
	$	810	$	(434)	$	376	$	810	$	(420)	$	390
Indefinite-lived intangible assets					$	76					$	76
Intangible assets, net					$	452					$	466

Amortization expense associated with definite-lived intangible assets was $14 million and $15 million for the three months ended March 31, 2024 and 2023, respectively.

We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets.