Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

10. Goodwill and Intangible Assets

GOODWILL (Dollars in millions)	2022			2021
Carrying amount at beginning of year	$	1,387		$	1,398
Translation differences		(11	)		(11	)
Carrying amount at end of year	$	1,375		$	1,387

Approximately $1.2 billion of the Company’s goodwill is associated with the 1997 merger of Autoliv AB and the Automotive Safety Products Division of Morton International, Inc. No goodwill impairment charges were recognized during 2022, 2021 or 2020.

AMORTIZABLE INTANGIBLES (Dollars in millions)	2022			2021
Gross carrying amount	$	387		$	398
Accumulated amortization		(380	)		(390	)
Carrying value	$	7		$	8

At December 31, 2022, intangible assets subject to amortization mainly relate to acquired technology. No significant impairments of intangible assets were recognized during 2022, 2021 or 2020.

Amortization expense related to intangible assets was $3 million, $10 million and $10 million in 2022, 2021 and 2020, respectively. Estimated future amortization expense is: 2023: $2 million; 2024: $2 million; 2025: $2 million; 2026: $— million and 2027: $— million.