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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets

Goodwill

Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired.

The change in the carrying amount of goodwill by segment is shown below:
(in millions)
Ratings
 
Market Intelligence
 
Platts
 
Indices
 
Corporate
 
Total
Balance as of December 31, 2016
$
109

 
$
1,960

 
$
497

 
$
383

 
$
—

 
$
2,949

Other 1
5

 
1

 
26

 
8

 
—

 
40

Balance as of December 31, 2017
114

 
1,961

 
523

 
391

 
—

 
2,989

Acquisitions
5

 
62

 
—

 
—

 
498

 
565

Other 1
(6
)
 
6

 
(7
)
 
(12
)
 
—

 
(19
)
Balance as of December 31, 2018
$
113

 
$
2,029

 
$
516

 
$
379

 
$
498

 
$
3,535


1 
Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions. 2017 includes adjustments related to PIRA, Trucost, RigData and Commodity Flow. 2018 includes adjustments related to Trucost.

Goodwill additions in the table above relate to transactions discussed in Note 2 – Acquisitions and Divestitures.

Other Intangible Assets

Other intangible assets include both indefinite-lived assets not subject to amortization and definite-lived assets subject to amortization. We have indefinite-lived assets with a carrying value of $846 million and $714 million as of December 31, 2018 and 2017, respectively.
•
2018 and 2017 both include $380 million and $90 million for Dow Jones Indices intellectual property and the Dow Jones tradename, respectively, that we recorded as part of the transaction to form S&P Dow Jones Indices LLC in 2012.
•
2018 and 2017 both include $185 million within our Market Intelligence segment for the SNL tradename.
•
2018 includes $132 million within our Indices segment for the balance of the IP rights in a family of indices derived from the S&P 500, solidifying Indices IP in and to the S&P 500 index family.
•
2018 and 2017 both include $59 million within our Indices segment for the Goldman Sachs Commodity Index intellectual property and the Broad Market Indices intellectual property.


The following table summarizes our definite-lived intangible assets:
(in millions)
 
 
 
 
 
 
 
 
 
 
 
Cost
Databases and software
 
Content
 
Customer relationships
 
Tradenames
 
Other intangibles
 
Total
Balance as of December 31, 2016
$
506

 
$
139

 
$
330

 
$
45

 
$
163

 
$
1,183

   Dispositions
(4
)
 
—

 
(2
)
 
—

 
—

 
(6
)
     Other 1
52

 
—

 
19

 
5

 
(86
)
 
(10
)
Balance as of December 31, 2017
554

 
139

 
347

 
50

 
77

 
1,167

   Acquisitions
3

 
—

 
—

 
—

 
123

 
126

     Other (primarily Fx)
4

 
—

 
(1
)
 
—

 
(6
)
 
(3
)
Balance as of December 31, 2018
$
561

 
$
139

 
$
346

 
$
50

 
$
194

 
$
1,290

 
 
 
 
 
 
 
 
 
 
 
 
Accumulated amortization
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2016
$
132

 
$
87

 
$
84

 
$
36

 
$
52

 
$
391

Current year amortization
52

 
14

 
22

 
4

 
6

 
98

Dispositions
(3
)
 
—

 
(2
)
 
—

 
(1
)
 
(6
)
     Reclassifications
2

 
—

 
1

 
1

 
(4
)
 
—

     Other (primarily Fx)
4

 
—

 
1

 
1

 
4

 
10

Balance as of December 31, 2017
187

 
101

 
106

 
42

 
57

 
493

Current year amortization
52

 
14

 
21

 
3

 
32

 
122

     Reclassifications
1

 
—

 


 
—

 
(1
)
 
—

     Other (primarily Fx)
—

 
—

 
(1
)
 
—

 
(2
)
 
(3
)
Balance as of December 31, 2018
$
240

 
$
115

 
$
126

 
$
45

 
$
86

 
$
612

 
 
 
 
 
 
 
 
 
 
 
 
Net definite-lived intangibles:
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
$
367

 
$
38

 
$
241

 
$
8

 
$
20

 
$
674

December 31, 2018
$
321

 
$
24

 
$
220

 
$
5

 
$
108

 
$
678


1 
Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions. 2017 includes adjustments related to PIRA, Trucost, RigData and Commodity Flow.

Definite-lived intangible assets are being amortized on a straight-line basis over periods of up to 20 years. The weighted-average life of the intangible assets as of December 31, 2018 is approximately 11 years.

Amortization expense for the years ended December 31, 2018, 2017 and 2016 was $122 million, $98 million, and $96 million, respectively. Expected amortization expense for intangible assets over the next five years for the years ended December 31, assuming no further acquisitions or dispositions, is as follows:
(in millions)
2019
 
2020
 
2021
 
2022
 
2023
Amortization expense
$
122

 
$
114

 
$
83

 
$
74

 
$
70