Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The following table shows the carrying amount of goodwill by reportable segment as of September 30, 2020 and December 31, 2019:

	Ammonia		Granular Urea		UAN		AN		Other		Total
	(in millions)
Balance as of December 31, 2019	$	587	$	828	$	576	$	302	$	72	$	2,365
Effect of exchange rate changes	(1)		—		—		(6)		(1)		(8)
Balance as of September 30, 2020	$	586	$	828	$	576	$	296	$	71	$	2,357

All of our identifiable intangible assets have definite lives and are presented in other assets on our consolidated balance sheets at gross carrying amount, net of accumulated amortization, as follows:

	September 30, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(in millions)
Customer relationships	$	128	$	(49)	$	79	$	131	$	(45)	$	86
Trade names	31		(8)		23		31		(7)		24
Total intangible assets	$	159	$	(57)	$	102	$	162	$	(52)	$	110

Our intangible assets are being amortized over a weighted-average life of approximately 20 years. Amortization expense of our identifiable intangible assets was $2 million and $6 million for the three and nine months ended September 30, 2020, respectively, and $2 million and $6 million for the three and nine months ended September 30, 2019, respectively. The gross carrying amount and accumulated amortization of our intangible assets are also impacted by the effect of exchange rate changes. Total estimated amortization expense for the remainder of 2020 and each of the five succeeding fiscal years is as follows:

	Estimated Amortization Expense
	(in millions)
Remainder of 2020	$	2
2021	8
2022	8
2023	8
2024	8
2025	8