Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

10. Goodwill and Intangible Assets

GOODWILL (Dollars in millions)	2023		2022
Carrying amount at beginning of year	$	1,375	$	1,387
Translation differences		2		(11	)
Carrying amount at end of year	$	1,378	$	1,375

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 2023, 2022 or 2021.

AMORTIZABLE INTANGIBLES (Dollars in millions)	2023			2022
Gross carrying amount	$	391		$	387
Accumulated amortization		(384	)		(380	)
Carrying value	$	7		$	7

At December 31, 2023, intangible assets subject to amortization mainly relate to acquired technology. No significant impairments of intangible assets were recognized during 2023, 2022 or 2021.

Amortization expense related to intangible assets was $2 million, $3 million and $10 million in 2023, 2022 and 2021, respectively. Estimated future amortization expense is immaterial for all future periods.