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Goodwill and Acquired Intangible Assets
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Acquired Intangible Assets Goodwill and Acquired Intangible Assets
Goodwill
The following table presents the changes in goodwill by business segment during the nine months ended September 30, 2020:
Market
Services
Corporate ServicesInformation ServicesMarket TechnologyTotal
(in millions)
Balance at December 31, 2019$3,342 $460 $2,283 $281 $6,366 
Goodwill acquired— — 134 — 134 
Foreign currency translation adjustment49 40 100 
Balance at September 30, 2020$3,391 $465 $2,457 $287 $6,600 

The goodwill acquired for Information Services shown above relates to our acquisition of Solovis. See “2020 Acquisition,” of Note 4, “Acquisitions and Divestiture,” for further discussion of this acquisition.
Goodwill represents the excess of purchase price over the value assigned to the net assets, including identifiable intangible assets, of a business acquired. Goodwill is allocated to our reporting units based on the assignment of the fair values of each reporting unit of the acquired company. We test goodwill for impairment at the reporting unit level annually, or in interim periods if certain events
occur indicating that the carrying amount may be impaired, such as changes in the business climate, poor indicators of operating performance or the sale or disposition of a significant portion of a reporting unit. There was no impairment of goodwill for the nine months ended September 30, 2020 and 2019; however, events such as extended economic weakness or unexpected significant declines in operating results of any of our reporting units or businesses may result in goodwill impairment charges in the future.
Acquired Intangible Assets
The following table presents details of our total acquired intangible assets, both finite- and indefinite-lived:
September 30, 2020December 31, 2019
Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet Amount
(in millions)(in millions)
Finite-Lived Intangible Assets
      
Technology$76 $(21)$55 $63 $(19)$44 
Customer relationships1,599 (624)975 1,596 (532)1,064 
Other18 (6)12 18 (5)13 
Foreign currency translation adjustment
(151)77 (74)(159)55 (104)
Total finite-lived intangible assets
$1,542 $(574)$968 $1,518 $(501)$1,017 
Indefinite-Lived Intangible Assets
      
Exchange and clearing registrations
$1,257 $— $1,257 $1,257 $— $1,257 
Trade names121 — 121 121 — 121 
Licenses52 — 52 52 — 52 
Foreign currency translation adjustment
(180)— (180)(198)— (198)
Total indefinite-lived intangible assets
$1,250 $— $1,250 $1,232 $— $1,232 
Total intangible assets$2,792 $(574)$2,218 $2,750 $(501)$2,249 
Amortization expense for acquired finite-lived intangible assets was $26 million for the three months ended September 30, 2020, $25 million for the three months ended September 30, 2019, and $76 million for both the nine months ended September 30, 2020 and 2019. These amounts are included in depreciation and amortization expense in the Condensed Consolidated Statements of Income.
The estimated future amortization expense (excluding the impact of foreign currency translation adjustments of $74 million as of September 30, 2020) of acquired finite-lived intangible assets as of September 30, 2020 is as follows:
(in millions)
2020(1)
$27 
2021109 
2022106 
2023103 
202498 
2025 and thereafter599 
Total$1,042 
____________
(1)    Represents the estimated amortization to be recognized over the remaining three months of 2020.