GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

There were no impairment charges related to goodwill for the years ended December 31, 2022, 2021 and 2020.

The following table presents changes in the goodwill balance as allocated to each business segment:


In millions	Europe		Latin America		North America		Total
Balance as of December 31, 2020
Goodwill	$	13	$	121	$	—	$	134
Accumulated impairment losses	(1)		—		—		(1)
	12		121		—		133
Currency translation and other (a)	(2)		(9)		—		(11)
Goodwill additions/reductions	—		—		—		—
Accumulated impairment loss additions/reductions	—		—		—		—

Balance as of December 31, 2021
Goodwill	11		112		—		123
Accumulated impairment losses	(1)		—		—		(1)
	10		112		—		122
Currency translation and other (a)	—		6		—		6
Goodwill additions/reductions	—		—		—		—
Accumulated impairment loss additions/reductions	—		—		—		—

Balance as of December 31, 2022
Goodwill	11		118		—		129
Accumulated impairment losses	(1)		—		—		(1)
Total	$	10	$	118	$	—	$	128

(a)Represents the effects of foreign currency translations and reclassifications.

During the first quarter of 2022, the Company concluded that significant changes in the business climate in Russia represented an indicator of impairment, which resulted in the performance of an interim goodwill impairment test. The Company performed interim quantitative testing of goodwill attributed to the Europe reporting unit and concluded that the fair value of the reporting unit had not been reduced below carrying value and no goodwill impairment charge was recorded.

The Company performed its annual testing of its reporting units for possible goodwill impairments by applying the qualitative assessment to its Europe and Latin America reporting units as of October 1, 2022. For the current year evaluation, the Company assessed various assumptions, events and circumstances that would have affected the estimated fair value of the reporting units

under the qualitative assessment for the reporting units listed above. The results of the qualitative assessments indicated that it is not more likely than not that the fair values of its Europe and Latin America reporting units were less than their carrying values.

In addition, the Company considered whether there were any events or circumstances outside of the annual evaluation, other than those discussed above, that would reduce the fair value of its reporting units below their carrying amounts and necessitate a goodwill impairment evaluation. In consideration of all relevant factors, there were no indicators that would require goodwill impairment evaluation subsequent to October 1, 2022.

OTHER INTANGIBLES

Identifiable intangible assets comprised the following:


	2022						2021
In millions as of December 31,	Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets		Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets
Customer relationships and lists	$	56	$	(50)	$	6	$	56	$	(48)	$	8
Software	3		(3)		—		3		(2)		1
Other	4		(3)		1		4		(4)		—
Total	$	63	$	(56)	$	7	$	63	$	(54)	$	9

The Company recognized the following amounts as amortization expense related to intangible assets:


In millions	2022		2021		2020
Amortization expense related to intangible assets	$	2	$	2	$	2

Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows: 2023 – $2 million, 2024 – $2 million, 2025 – $2 million, 2026 – $1 million, 2027 and cumulatively thereafter – $0 million. These amounts exclude amortization related to any Nymölla intangibles assets acquired and recognized subsequent to December 31, 2022.