The Company's methodology for allocating the purchase price relating to purchase acquisitions is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the cost of the acquisition over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. The Company assigns assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process.

Goodwill and purchased intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The process of evaluating the potential impairment of goodwill and intangible assets requires significant judgment.

The Company regularly monitors current business conditions and other factors including, but not limited to, adverse industry or economic trends, restructuring actions and lower projections of profitability that may impact future operating results. During the quarter ended June 30, 2022, following softening industry demand for flexible PCB via drilling equipment and declines in projected operating results for ESD, the Company evaluated the carrying values of goodwill, purchased intangible assets and other long-lived assets assigned to ESD and determined the carrying values were recoverable. The Company performed its analysis using the income approach and key underlying assumptions included forecasted revenue, gross profit and operating margin as well as discount rate. Fair value estimates are based on complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions that have been deemed reasonable by the Company's management. There are inherent uncertainties and management judgment required in these determinations. In its quantitative assessment of the ESD reporting unit, the Company estimated fair value exceeded carrying value by 10%.

The changes in the carrying amount of goodwill and accumulated impairment loss during the six months ended June 30, 2022 were as follows:


	Gross Carrying Amount			Accumulated Impairment Loss			Net
Beginning balance, January 1	$	1,373		$	(145	)	$	1,228
Foreign currency translation		(8	)		—			(8	)
Ending balance, June 30	$	1,365		$	(145	)	$	1,220

Components of the Company's intangible assets are comprised of the following:


As of June 30, 2022:	Gross		Accumulated Amortization and Impairment Charges			Foreign Currency Translation			Net
Completed technology	$	556	$	(260	)	$	—		$	296
Customer relationships		318		(135	)		(2	)		181
Patents, trademarks, trade names and other		123		(55	)		(1	)		67
	$	997	$	(450	)	$	(3	)	$	544


As of December 31, 2021:	Gross		Accumulated Amortization and Impairment Charges			Foreign Currency Translation			Net
Completed technology(1)	$	556	$	(242	)	$	—		$	314
Customer relationships(1)		318		(126	)		—			192
Patents, trademarks, trade names and other(1)		123		(52	)		(1	)		70
	$	997	$	(420	)	$	(1	)	$	576

(1)

During the twelve months ended December 31, 2021, the Company recorded $121 of separately identified intangible assets related to its acquisition of Photon Control, representing $110 in completed technology, $9 in customer relationships and $2 in patents, trademarks, trade names and other.

Aggregate amortization expense related to acquired intangible assets for the six months ended June 30, 2022 and 2021 was $30 and $25, respectively. Aggregate net amortization expense related to acquired intangible assets for future years is as follows:


Year	Amount
2022 (remaining)	$	30
2023		58
2024		57
2025		56
2026		52
2027		52
Thereafter		183

The table above excludes $56 of indefinite-lived trademarks and trade names that were not subject to amortization.