Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

Note 4. Goodwill and Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment on an annual basis or more frequently if circumstances indicate a potential impairment. An assessment for impairment is performed on October 1 of every year. The balance of goodwill was $512 million as of June 30, 2022 and December 31, 2021. There were no goodwill or trade name impairment charges recorded in the six months ended June 30, 2022 and 2021. There were no accumulated impairment losses recorded as of June 30, 2022 and December 31, 2021.

The table below summarizes the other intangible asset balances:

	As of June 30, 2022						As of December 31, 2021
(In millions)	Gross		Accumulated ‎Amortization		Net		Gross		Accumulated ‎Amortization		Net
Trade names(1)	$	141	$	—	$	141	$	141	$	—	$	141
Customer relationships		173		(172)		—		173		(172)		—
Developed technology		25		(15)		10		25		(12)		13
Other		37		(33)		4		37		(32)		5
Total	$	375	$	(220)	$	155	$	375	$	(216)	$	159

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(1)Not subject to amortization.

Amortization expense was $2 million and $3 million for the three months ended June 30, 2022 and 2021, respectively, and $4 million and $6 million for the six months ended June 30, 2022 and 2021, respectively. The following table outlines expected amortization expense for existing intangible assets for the remainder of 2022 and the next five years:

(In millions)
2022 (remainder)	$	4
2023		6
2024		4
2025		—
2026		—
2027		—
Total	$	15