Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

8 – Intangible Assets, Net

The components of intangible assets, net were as follows:

	December 31, 2022
	Gross				Net
	Carrying		Accumulated		Intangible
(Dollars in millions)	Amount		Amortization		Assets
Developed and Acquired Technology	$	591	$	(359)	$	232
Trade Names	395		(121)		274
Intangible Assets, Net	$	986	$	(480)	$	506
	December 31, 2021
	Gross				Net
	Carrying		Accumulated		Intangible
(Dollars in millions)	Amount		Amortization		Assets
Developed and Acquired Technology	$	590	$	(247)	$	343
Trade Names	395		(81)		314
Intangible Assets, Net	$	985	$	(328)	$	657

Amortization expense was $155 million, $156 million and $163 million in 2022, 2021, and 2020, respectively. Based on the carrying value of intangible assets at December 31, 2022, amortization expense for the subsequent five years is estimated as follows (dollars in millions): 

Period	Amount
2023	$	157
2024	146
2025	42
2026	41
2027	41