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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The following table shows changes in the carrying amounts of goodwill by reportable segment for the years ended December 31, 2019 and 2018:

Goodwill
Packaging & Specialty Plastics
Industrial Intermediates & Infrastructure
Performance Materials & Coatings
Total
In millions
Balance at Jan 1, 2018
$
5,043

$
1,101

$
3,689

$
9,833

Foreign currency impact
(24
)
(6
)
(39
)
(69
)
Measurement period adjustment - ECP 1
82

—

—

82

Balance at Dec 31, 2018
$
5,101

$
1,095

$
3,650

$
9,846

Foreign currency impact
8

6

(24
)
(10
)
Goodwill impairment
—

—

(1,039
)
(1,039
)
Other
—

(1
)
—

(1
)
Balance at Dec 31, 2019
$
5,109

$
1,100

$
2,587

$
8,796


1. Goodwill recognized from the receipt of the ECP businesses as part of the separation from DowDuPont. See Note 4 for additional information.

The separation from DowDuPont did not impact the composition of the Company's six reporting units: Coatings & Performance Monomers, Consumer Solutions, Hydrocarbons & Energy, Industrial Solutions, Packaging and Specialty Plastics and Polyurethanes & Construction Chemicals. The ECP businesses received as part of the separation from DowDuPont are included in the Hydrocarbons & Energy and Packaging and Specialty Plastics reporting units. At December 31, 2019, goodwill was carried by all reporting units except Coatings & Performance Monomers (“C&PM”).

Goodwill Impairments
The carrying amounts of goodwill at December 31, 2019 were net of accumulated impairments of $309 million in Industrial Intermediates & Infrastructure ($309 million at December 31, 2018) and $2,530 million in Performance Materials & Coatings ($1,491 million at December 31, 2018).

Goodwill Impairment Testing
The Company performs an impairment test of goodwill annually in the fourth quarter. In 2019, the Company performed quantitative testing for two reporting units (one in 2018 and four in 2017) and a qualitative assessment was performed for the remaining reporting units. The qualitative assessments indicated that it was not more likely than not that fair value was less than the carrying value for those reporting units included in the qualitative test.

Upon completion of the quantitative testing in the fourth quarter of 2017, the Company determined the C&PM reporting unit was impaired. Throughout 2017, the C&PM reporting unit did not consistently meet expected financial performance targets, primarily due to increasing commoditization in coatings markets and competition, as well as customer consolidation in end markets which reduced growth opportunities. As a result, the C&PM reporting unit lowered future revenue and profitability expectations. The fair value of the C&PM reporting unit was determined using a discounted cash flow methodology that reflected reductions in projected revenue growth rates, primarily driven by modified sales volume and pricing assumptions, as well as revised expectations for future growth rates. These discounted cash flows did not support the carrying value of the C&PM reporting unit. As a result, the Company recorded a goodwill impairment charge for the C&PM reporting unit of $1,491 million in the fourth quarter of 2017, included in “Restructuring, goodwill impairment and asset related charges - net” in the consolidated statements of income and related to the Performance Materials & Coatings segment. The C&PM reporting unit carried $1,071 million of goodwill at December 31, 2017. No other goodwill impairments were identified as a result of the 2017 testing.

Quantitative testing was performed on the C&PM reporting unit in the fourth quarter of 2018. The fair value of the reporting unit was determined using a discounted cash flow methodology that included plans to undertake modest, higher-return investments in several existing assets, improvements in cost performance and leveraging of technologies. While assessments supported a case for sustaining market growth consistent with GDP projections, the valuation also included adverse impacts related to increased customer purchasing leverage from ongoing customer consolidation. The resulting valuation was compared with the carrying value of the C&PM reporting and the Company concluded that no goodwill impairment existed.

Upon completion of the quantitative testing in the fourth quarter of 2019, the Company determined the C&PM reporting unit was impaired. During 2019, the C&PM reporting unit did not consistently meet expected financial performance targets, primarily due to the industry’s increased captive use of coatings products, which led to volume reductions; reduced margins for products across the portfolio due to changes in customer buying patterns and supply and demand balances; as well as a continuous trend of customer consolidation in end markets, which reduced growth opportunities. As a result, the C&PM reporting unit lowered its future revenue and profitability projections. The fair value of the C&PM reporting unit was determined using a discounted cash flow methodology that reflected reductions in projected revenue growth rates due to lower sales volume and price assumptions, as well as reductions to future growth rates. These discounted cash flows did not support the carrying value of the C&PM reporting unit. As a result, the Company recorded a goodwill impairment charge of $1,039 million in the fourth quarter of 2019, included in “Restructuring, goodwill impairment and asset related charges - net” in the consolidated statements of income and related to the Performance Materials & Coatings segment. The carrying value of the C&PM reporting unit's goodwill was zero at December 31, 2019. No other goodwill impairments were identified as a result of the 2019 testing.

Other Intangible Assets
The following table provides information regarding the Company’s other intangible assets:

Other Intangible Assets at Dec 31
2019
2018
In millions
Gross
Carrying
Amount
Accum
Amort
Net
Gross
Carrying
Amount
Accum
Amort
Net  
Intangible assets with finite lives:
 
 
 
 
 
 
Developed technology
$
2,634

$
(1,467
)
$
1,167

$
2,634

$
(1,252
)
$
1,382

Software
1,449

(893
)
556

1,404

(805
)
599

Trademarks/tradenames
352

(342
)
10

352

(329
)
23

Customer-related
3,207

(1,184
)
2,023

3,211

(993
)
2,218

Total other intangible assets, finite lives
$
7,642

$
(3,886
)
$
3,756

$
7,601

$
(3,379
)
$
4,222

In-process research and development
3

—

3

3

—

3

Total other intangible assets
$
7,645

$
(3,886
)
$
3,759

$
7,604

$
(3,379
)
$
4,225



The following table provides information regarding amortization expense from continuing operations related to intangible assets:

Amortization Expense from Continuing Operations
2019
2018
2017
In millions
Other intangible assets, excluding software
$
419

$
469

$
400

Software 1
$
96

$
93

$
82


1.
Included in "Cost of sales" in the consolidated statements of income.

Total estimated amortization expense from continuing operations for the next five fiscal years, including amounts expected to be capitalized, is as follows:

Estimated Amortization Expense for Next Five Years
In millions
2020
$
492

2021
$
472

2022
$
411

2023
$
380

2024
$
364