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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

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, 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

Acquisitions
—

 
44

 
6

 
—

 
—

 
50

Dispositions
—

 
(12
)
 
(3
)
 
—

 
—

 
(15
)
  Reclassifications
—

 
3

 
—

 
(3
)
 
—

 
—

Other 1
2

 
(2
)
 
2

 
—

 
3

 
5

Balance as of December 31, 2019
$
115

 
$
2,062

 
$
521

 
$
376

 
$
501

 
$
3,575


1 
Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions. 2018 includes adjustments related to Trucost. 2019 includes adjustments related to Panjiva, Rate Watch and Eclipse.

Goodwill additions and dispositions 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 as of December 31, 2019 and 2018.
•
2019 and 2018 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.
•
2019 and 2018 both include $185 million within our Market Intelligence segment for the SNL tradename.
•
2019 and 2018 both include $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.
•
2019 and 2018 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, 2017
$
554

 
$
139

 
$
347

 
$
50

 
$
77

 
$
1,167

   Acquisitions
3

 
—

 
—

 
—

 
123

 
126

     Other (primarily Fx) 1
4

 
—

 
(1
)
 
—

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

 
139

 
346

 
50

 
194

 
1,290

   Acquisitions
—

 
—

 
—

 
—

 
29

 
29

     Reclassifications
78

 
—

 
10

 
5

 
(93
)
 
—

     Other 1
(10
)
 
—

 
(1
)
 
(1
)
 
—

 
(12
)
Balance as of December 31, 2019
$
629

 
$
139

 
$
355

 
$
54

 
$
130

 
$
1,307

 
 
 
 
 
 
 
 
 
 
 
 
Accumulated amortization
 
 
 
 
 
 
 
 
 
 
 
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
—

 
—

 
(1
)
 
—

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

 
115

 
126

 
45

 
86

 
612

Current year amortization
73

 
14

 
23

 
3

 
9

 
122

     Reclassifications
22

 
—

 
4

 
1

 
(27
)
 
—

     Other 1
(4
)
 
—

 
—

 
(1
)
 
—

 
(5
)
Balance as of December 31, 2019
$
331

 
$
129

 
$
153

 
$
48

 
$
68

 
$
729

 
 
 
 
 
 
 
 
 
 
 
 
Net definite-lived intangibles:
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
$
321

 
$
24

 
$
220

 
$
5

 
$
108

 
$
678

December 31, 2019
$
298

 
$
10

 
$
202

 
$
6

 
$
62

 
$
578


1 
Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions. 2019 includes adjustments related to RigData.

Definite-lived intangible assets are being amortized on a straight-line basis over periods of up to 21 years. The weighted-average life of the intangible assets as of December 31, 2019 is approximately 12 years.

Amortization expense was $122 million for the years ended December 31, 2019 and 2018 and $98 million for the year ended December 31, 2017. 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)
2020
 
2021
 
2022
 
2023
 
2024
Amortization expense
$
117

 
$
86

 
$
78

 
$
73

 
$
70