Impairment

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Impairment

Impairment

Impairment expense is summarized as follows:

	Year Ended December 31,
(in millions)	2022		2021
Impairment:
Goodwill associated with Stork and AMECO	$	40	$	13
Energy Solutions' equity method investments	—		28
IT assets	—		16
Fair value adjustment of Stork and AMECO assets	(63)		233
Total impairment	$	(24)	$	290

As part of our assessment of goodwill in 2022, the fair value of the Other reporting unit was determined using a combination of observable level 2 inputs, including indicative offers and ongoing negotiations for the related assets.

During 2021, we evaluated our significant investments and determined that certain of our investments were impaired. The fair value of these investments was determined using unobservable Level 3 inputs based on the forecast of anticipated volumes and overhead absorption in a cyclical business.

We did not recognize any material impairment expense in 2023. During 2022, we reversed $63 million in impairment originally recognized in 2021 when our Stork and AMECO businesses were classified as held for sale, due primarily to remeasurement under held and used impairment criteria, for which CTA balances are excluded from carrying value. In 2021, the fair value of the Stork and AMECO assets were determined using a combination of observable level 2 inputs, including indicative offers and ongoing negotiations for the related assets.