Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE E. GOODWILL AND OTHER INTANGIBLE ASSETS

As of June 30, 2022 and December 31, 2021, the carrying value of the Company’s Goodwill was $2,076 million and $2,064 million, respectively.

The following presents a summary of other intangible assets (dollars in millions):


	June 30, 2022							December 31, 2021
	Intangible assets, gross		Accumulated amortization			Intangible assets, net		Intangible assets, gross		Accumulated amortization			Intangible assets, net
Other intangible assets:
Trade name	$	791	$	—		$	791	$	791	$	—		$	791
In-process research and development		25		—			25		25		—			25
Customer relationships — commercial		839		(772	)		67		839		(751	)		88
Proprietary technology		484		(477	)		7		478		(477	)		1
Customer relationships — defense		62		(52	)		10		62		(50	)		12
Non-compete agreements		1		—			1		—		—			—
Total	$	2,202	$	(1,301	)	$	901	$	2,195	$	(1,278	)	$	917

As of June 30, 2022 and December 31, 2021, the carrying value of the Company’s Goodwill and Intangible assets, net was $2,977 million and $2,981 million, respectively.

Amortization expense related to other intangible assets for the next five fiscal years is expected to be (dollars in millions):


	2023		2024		2025		2026		2027
Amortization expense	$	45	$	9	$	5	$	2	$	1

The following presents a summary of the changes in the goodwill of the Company's single operating and reporting segment (dollars in millions):


	Goodwill
Balance at December 31, 2021	$	2,064
Acquisitions		13
Foreign currency translation		(1	)
Net current period impact to goodwill	$	12
Balance at June 30, 2022	$	2,076