Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill by segment for the years ended December 31, 2022, and 2021, are provided in the following table (dollars in millions):

	Siding		OSB		Other		Total
Balance at December 31, 2020	$	4	$	16	$	5	$	25
Impairment charges	—		—		(5)		(5)
Balance at December 31, 2021	4		16		—		19
Impairment charges	—		—		—		—
Balance at December 31, 2022	$	4	$	16	$	—	$	19

Changes in other intangible assets for the years ended December 31, 2022, and 2021, are provided in the following table (dollars in millions):

	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2020	$	33	$	19	$	3	$	55
Amortization	(3)		(2)		—		(5)
Balance at December 31, 2021	30		17		2		49
Amortization	(3)		(2)		—		(5)
Balance at December 31, 2022	$	28	$	15	$	2	$	45

1Timber licenses are included in Timber and timberlands on the Consolidated Balance Sheets.

The Company’s goodwill is evaluated for impairment annually during the fourth quarter or more frequently if events indicate the carrying value of a reporting unit may not be recoverable. The 2021 impairment test for Entekra indicated the carrying value exceeded the estimated fair value. The difference was recorded as a non-cash loss on impairment of $5 million for the year ended December 31, 2021, within loss on impairments in the Consolidated Statements of Income.

Included in the balance of timber licenses are values allocated to Canadian forest licenses whose initial value of $91 million is amortized over the estimated useful life of twenty to twenty-five years. Amortization expense related to definite-lived intangible assets was $5 million for each of the years ended December 31, 2022, 2021, and 2020.

Amortization of the above-described intangible assets will be $5 million per year over the next five years.