GOODWILL AND OTHER INTANGIBLES (Note)

3 Months Ended

Mar. 31, 2025

Goodwill

The following table presents changes in goodwill balances as allocated to each business segment for the three months ended March 31, 2025:


In millions	Packaging Solutions North America			Packaging Solutions EMEA			Global Cellulose Fibers		Total
Balance as of January 1, 2025
Goodwill	$	3,334		$	76		$	52	$	3,462
Accumulated impairment losses	(296)			(76)			(52)		(424)
Total	3,038			—			—		3,038
Goodwill additions/reductions (a)	336		(c)	3,712		(c)	—		4,048
Currency translation and other (b)	—			156			—		156
Balance as of March 31, 2025
Goodwill	3,433			3,944			52		7,429
Accumulated impairment losses	(59)			(76)			(52)		(187)
Total	$	3,374		$	3,868		$	—	$	7,242

(a) Includes write-offs of previously impaired goodwill of $237 million and accumulated impairment losses of $(237) million.

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

Other Intangibles

Identifiable intangible assets comprised of the following:


	March 31, 2025							December 31, 2024
In millions	Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets			Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets
Customer relationships and lists	$	4,458	$	392	$	4,066		$	489	$	360	$	129
Tradenames, patents and trademarks, and developed technology	564		171		393			170		162		8
Software	118		14		104		(a)	12		12		—
Land and water rights	8		2		6			8		2		6
Other	21		5		16			7		5		2
Total	$	5,169	$	584	$	4,585		$	686	$	541	$	145

(a) Of this balance, $65 million has been placed in service and $39 million is in development.

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


	Three Months Ended March 31,
In millions	2025		2024
Amortization expense related to intangible assets	$	51	$	9

Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows: