Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

8.Goodwill and Other Intangible Assets

Goodwill

Changes in the carrying amount of goodwill for the twelve months ended December 31, 2018 and 2017 were as follows (in millions):

	Display Technologies		Optical Communications		Specialty Materials		Life Sciences		All Other		Total
Balance at December 31, 2016	$	126	$	645	$	150	$	558	$	98	$	1,577
Acquired goodwill (1)				22				43		34		99
Measurement period adjustment (2)				(1)				1		(28)		(28)
Foreign currency translation   adjustment		10		5				21		10		46
Balance at December 31, 2017	$	136	$	671	$	150	$	623	$	114	$	1,694
Acquired goodwill (3)				257				2				259
Measurement period adjustment				11								11
Foreign currency translation   adjustment		(4)		(13)				(8)		(3)		(28)
Balance at December 31, 2018	$	132	$	926	$	150	$	617	$	111	$	1,936

(1) The Company completed two small acquisitions in the third quarter of 2017 which are reported in the Optical Communications and Life Sciences segment and one small acquisition in the first quarter of 2017 which is reported in All Other.

(2) In the second quarter of 2017, the Company recorded measurement period adjustments of $28 million related to an acquisition completed in a previous period.

(3) The Company completed the acquisition of CMD during the second quarter and the fourth quarter of 2018.

Corning’s gross goodwill balance for the years ended December 31, 2018 and 2017 were $8.4 billion and $8.2 billion, respectively.  Accumulated impairment losses were $6.5 billion for the years ended December 31, 2018 and 2017, respectively, and were generated primarily through goodwill impairments related to the Optical Communications segment.

Other Intangible Assets

Other intangible assets follow (in millions):

	December 31,
	2018						2017
	Gross		Accumulated amortization		Net		Gross		Accumulated amortization		Net
Amortized intangible assets:
Patents, trademarks & trade   names	$	465	$	203	$	262	$	382	$	188	$	194
Customer list and other		1,308		278		1,030		884		209		675
Total	$	1,773	$	481	$	1,292	$	1,266	$	397	$	869

8.Goodwill and Other Intangible Assets (continued)

Amortized intangible assets are primarily related to the Optical Communications and Life Sciences segments.  The net carrying amount of intangible assets increased by $423 million during the year ended December 31, 2018, primarily due to the acquisition of CMD of $525million and other acquisition of $9million of other intangible assets, offset by amortization of $94 million and foreign currency translation and other adjustments of $17million.

Amortization expense related to all intangible assets is estimated to be $115 million annually for 2019, $114million annually for 2020, $113 million annually for 2021,  $111 million annually for 2022, and $110 million annually for 2023.