The following tables present the company's intangible asset balances by major asset class.

* Amounts as of September 30, 2021 and December 31, 2020 included a decrease in net intangible asset balances of $179 million and an increase of $279 million, respectively, due to foreign currency translation.

**	Other intangibles are primarily acquired proprietary and non-proprietary business processes, methodologies and systems.

The net carrying amount of intangible assets decreased $771 million during the first nine months of 2021, primarily due to intangible asset amortization, partially offset by additions of acquired intangibles and capitalized software. The aggregate intangible asset amortization expense was $646 million and $1,897 million for the third quarter and first nine months of 2021, respectively, compared to $613 million and $1,858 million for the third quarter and first nine months of 2020, respectively. In the first nine months of 2021, the company retired $581 million of fully amortized intangible assets, impacting both the gross carrying amount and accumulated amortization by this amount.

The future amortization expense relating to intangible assets currently recorded in the Consolidated Balance Sheet was estimated to be the following at September 30, 2021:


	Capitalized		Acquired
(Dollars in millions)	Software		Intangibles		Total
Remainder of 2021	$	171	$	474	$	645
2022		469		1,830		2,299
2023		268		1,517		1,786
2024		74		1,467		1,541
2025		0		1,444		1,444
Thereafter		0		5,310		5,310

Goodwill

The changes in the goodwill balances by segment for the nine months ended September 30, 2021 and for the year ended December 31, 2020 were as follows:


									Foreign
									Currency
					Purchase				Translation
(Dollars in millions)	Balance		Goodwill		Price				and Other		Balance
Segment	1/1/2021		Additions		Adjustments			Divestitures	Adjustments*		9/30/2021
Cloud & Cognitive Software	$	43,934	$	1,655	$	8	$	(13)	$	(374)	$	45,210
Global Business Services		6,145		695		(11)		—		(101)		6,727
Global Technology Services		7,245		2		—		—		(92)		7,155
Systems		2,293		—		0		—		(7)		2,286
Total	$	59,617	$	2,351	$	(3)	$	(13)	$	(575)	$	61,378


									Foreign
									Currency
					Purchase				Translation
(Dollars in millions)	Balance		Goodwill		Price				and Other		Balance
Segment	1/1/2020		Additions		Adjustments			Divestitures	Adjustments*		12/31/2020
Cloud & Cognitive Software	$	43,037	$	362	$	(139)	$	—	$	675	$	43,934
Global Business Services		5,775		205		—		—		165		6,145
Global Technology Services		7,141		—		—		—		104		7,245
Systems		2,270		8		—		—		15		2,293
Total	$	58,222	$	575	$	(139)	$	—	$	960	$	59,617

* Primarily driven by foreign currency translation.

There were no goodwill impairment losses recorded during the first nine months of 2021 or full-year 2020 and the company has no accumulated impairment losses. Purchase price adjustments recorded in the first nine months of 2021 and full-year 2020 were related to acquisitions that were still subject to the measurement period that ends at the earlier of 12 months from the acquisition date or when information becomes available. Net purchase price adjustments recorded in the first nine months of 2021 were not material. In full-year 2020, net purchase price adjustments recorded to noncurrent tax assets and liabilities were related to the Red Hat acquisition.

At the date of issuance of the financial statements, the company's annual goodwill impairment analysis which is performed during the fourth quarter is not yet complete. In anticipation of the separation of Kyndryl that occurred on November 3, 2021 and the segment changes immediately prior to the separation, the company began performing the quantitative tests of goodwill impairment for all affected reporting units. Preliminary analysis indicates the fair value of the Infrastructure Services reporting unit which includes Kyndryl and is part of the GTS segment, approximates its carrying amount. This reporting unit had goodwill of $5.8 billion as of September 30, 2021. The final goodwill impairment analysis may differ significantly from the company's preliminary result.

Based on the preliminary analysis, all of the other reporting units with goodwill had a fair value that was substantially in excess of its carrying value.