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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2020
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)RatingsMarket IntelligencePlattsIndicesCorporateTotal
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, 2019115 2,062 521 376 501 3,575 
Acquisitions138 — — — — 138 
Dispositions— (2)— — — (2)
Other 1
10 11 6 — (3)24 
Balance as of December 31, 2020$263 $2,071 $527 $376 $498 $3,735 
1Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions. 2020 includes adjustments related to Investor Relations. 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, 2020 and 2019.
•2020 and 2019 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.
•2020 and 2019 both include $185 million within our Market Intelligence segment for the SNL tradename.
•2020 and 2019 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.
•2020 and 2019 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) 
CostDatabases and softwareContentCustomer relationshipsTradenamesOther intangiblesTotal
Balance as of December 31, 2018$561 $139 $346 $50 $194 $1,290 
   Acquisitions— — — — 29 29 
     Reclassifications78 — 10 5 (93)— 
     Other (primarily Fx) 1
(10)— (1)(1)— (12)
Balance as of December 31, 2019629 139 355 54 130 1,307 
   Acquisitions14 — — — 40 54 
     Other 1
2 — 1 1 7 11 
Balance as of December 31, 2020$645 $139 $356 $55 $177 $1,372 
Accumulated amortization
Balance as of December 31, 2018$240 $115 $126 $45 $86 $612 
Current year amortization73 14 23 3 9 122 
     Reclassifications22 — 4 1 (27)— 
     Other (primarily Fx) 1
(4)— — (1)— (5)
Balance as of December 31, 2019331 129 153 48 68 729 
Current year amortization73 10 21 2 17 123 
Acquisitions— — — — 10 10 
     Other 1
2 — 1 — 1 4 
Balance as of December 31, 2020$406 $139 $175 $50 $96 $866 
Net definite-lived intangibles:
December 31, 2019$298 $10 $202 $6 $62 $578 
December 31, 2020$239 $— $181 $5 $81 $506 
1Primarily relates to the impact of foreign exchange and valuation adjustments for prior period acquisitions. 2020 includes adjustments related to 451 Research. 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, 2020 is approximately 12 years.

Amortization expense was $123 million for the year ended December 31, 2020 and $122 million for the years ended 2019 December 31, 2018. 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)20212022202320242025
Amortization expense$96 $87 $81 $79 $61