Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Note 4 – Goodwill and Intangible Assets

Goodwill increased $9 million within the automotive segment from $198 million as of December 31, 2019 to $207 million as of December 31, 2020 due to completed business combinations and foreign currency translation adjustments during the year ended December 31, 2020. There were no accumulated impairment losses as of December 31, 2020 and 2019.

Information regarding our intangible assets including assets recognized from our acquisitions was as follows (in millions):

	December 31, 2020									December 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Other		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Other			Net Carrying Amount
Finite-lived intangible assets:
Developed technology	$	302	$	(111	)	$	3	$	194	$	291	$	(72	)	$	1		$	220
Trade names		3		(1	)		—		2		3		(1	)		1			3
Favorable contracts and leases, net		113		(32	)		—		81		113		(24	)		—			89
Other		38		(18	)		1		21		38		(16	)		—			22
Total finite-lived intangible assets		456		(162	)		4		298		445		(113	)		2			334
Indefinite-lived intangible assets:
Gigafactory Nevada water rights		15		—			—		15		5		—			—			5
In-process research and development ("IPR&D")		—		—			—		—		60		—			(60	)		—
Total infinite-lived intangible assets		15		—			—		15		65		—			(60	)		5
Total intangible assets	$	471	$	(162	)	$	4	$	313	$	510	$	(113	)	$	(58	)	$	339

Amortization expense during the years ended December 31, 2020, 2019 and 2018 was $51 million, $44 million and $66 million, respectively.

Total future amortization expense for finite-lived intangible assets was estimated as follows (in millions):

2021	$	51
2022		50
2023		44
2024		29
2025		29
Thereafter		95
Total	$	298