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Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets

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

 

 

 

June 30, 2020

 

 

December 31, 2019

 

 

 

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

 

 

 

50

 

 

 

 

 

 

50

 

Customer relationships — commercial

 

 

839

 

 

 

(686

)

 

 

153

 

 

 

839

 

 

 

(664

)

 

 

175

 

Proprietary technology

 

 

478

 

 

 

(477

)

 

 

1

 

 

 

481

 

 

 

(473

)

 

 

8

 

Customer relationships — defense

 

 

62

 

 

 

(46

)

 

 

16

 

 

 

62

 

 

 

(44

)

 

 

18

 

Total

 

$

2,195

 

 

$

(1,209

)

 

$

986

 

 

$

2,223

 

 

$

(1,181

)

 

$

1,042

 

Schedule of Amortization Expense Related to Other Intangible Assets for Next Five Fiscal Years

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

 

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

Amortization expense

 

$

46

 

 

$

45

 

 

$

43

 

 

$

8

 

 

$

4

 

Summary of Changes in Goodwill of Operating and Reporting Segment

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, 2018

 

$

1,941

 

Acquisitions

 

 

78

 

Net current period impact to goodwill

 

$

78

 

Balance at June 30, 2019

 

$

2,019

 

 

 

 

 

 

Balance at December 31, 2019

 

$

2,041

 

Measurement period adjustment

 

 

25

 

Walker Die Casting net working capital settlement

 

 

(4

)

Net current period impact to goodwill

 

$

21

 

Balance at June 30, 2020

 

$

2,062