Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

11. Goodwill and Other Intangible Assets

A. Goodwill

The components of, and changes in, the carrying amount of goodwill are as follows:


(MILLIONS OF DOLLARS)	U.S.		International		Total
Balance, December 31, 2022	$	1,485	$	1,261	$	2,746
Adjustments	—		(1)		(1)
Other(a)	—		(7)		(7)
Balance, March 31, 2023	$	1,485	$	1,253	$	2,738

(a) Includes adjustments for foreign currency translation.

The gross goodwill balance was $3,274 million and $3,282 million as of March 31, 2023 and December 31, 2022, respectively. Accumulated goodwill impairment losses (generated entirely in fiscal 2002) were $536 million as of March 31, 2023 and December 31, 2022.

B. Other Intangible Assets

The components of identifiable intangible assets are as follows:


	As of March 31, 2023						As of December 31, 2022
					Identifiable						Identifiable
	Gross				Intangible Assets		Gross				Intangible Assets
	Carrying		Accumulated		Less Accumulated		Carrying		Accumulated		Less Accumulated
(MILLIONS OF DOLLARS)	Amount		Amortization		Amortization		Amount		Amortization		Amortization
Finite-lived intangible assets:
Developed technology rights	$	1,900	$	(1,006)	$	894	$	1,918	$	(975)	$	943
Brands and tradenames	390		(239)		151		395		(237)		158
Other	332		(238)		94		337		(233)		104
Total finite-lived intangible assets	2,622		(1,483)		1,139		2,650		(1,445)		1,205
Indefinite-lived intangible assets:
Brands and tradenames	91		—		91		91		—		91
In-process research and development	77		—		77		77		—		77
Product rights	7		—		7		7		—		7
Total indefinite-lived intangible assets	175		—		175		175		—		175
Identifiable intangible assets	$	2,797	$	(1,483)	$	1,314	$	2,825	$	(1,445)	$	1,380

C. Amortization

Amortization expense related to finite-lived acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as it benefits multiple business functions. Amortization expense related to finite-lived acquired intangible assets that are associated with a single function is included in Cost of sales, Selling, general and administrative expenses or Research and development expenses, as appropriate. Total amortization expense for finite-lived intangible assets was $47 million and $52 million for the three months ended March 31, 2023 and 2022, respectively.