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Goodwill and Other Identifiable Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Identifiable Intangible Assets Goodwill and Other Identifiable Intangible Assets
Goodwill
($ in millions)Performance CoatingsIndustrial CoatingsTotal
January 1, 2021
$4,023 $1,079 $5,102 
Acquisitions, including purchase accounting adjustments1,188 177 1,365 
Foreign currency impact(177)(42)(219)
December 31, 2021$5,034 $1,214 $6,248 
Acquisitions, including purchase accounting adjustments31 15 46 
Divestitures(40)— (40)
Foreign currency impact(144)(32)(176)
December 31, 2022$4,881 $1,197 $6,078 
Identifiable Intangible Assets
 December 31, 2022December 31, 2021
($ in millions)Gross Carrying AmountAccumulated AmortizationNetGross Carrying AmountAccumulated AmortizationNet
Indefinite-Lived Identifiable Intangible Assets
Trademarks$1,325 $— $1,325 $1,449 $— $1,449 
Definite-Lived Identifiable Intangible Assets
Acquired technology$827 ($636)$191 $862 ($616)$246 
Customer-related1,855 (1,112)743 1,956 (1,064)892 
Trade names311 (158)153 336 (144)192 
Other50 (48)2 51 (47)4 
Total Definite Lived Intangible Assets$3,043 ($1,954)$1,089 $3,205 ($1,871)$1,334 
Total Identifiable Intangible Assets$4,368 ($1,954)$2,414 $4,654 ($1,871)$2,783 
In the first quarter 2022, due to the adverse economic impacts of the Russian invasion in Ukraine, the Company recognized $147 million of Impairment and other related charges, net in the consolidated statement of income related to certain definite-lived and indefinite-lived intangible assets in the Performance Coatings segment. Refer to Note 7, “Impairment and Other Related Charges, Net” for further details.
In the fourth quarter, the Company tests the carrying value of indefinite-lived trademarks for impairment, as discussed in Note 1, “Summary of Significant Accounting Policies.” In conjunction with both the 2022 and 2020 annual impairment assessments, the long-term forecast of net sales for certain trademarks in the Performance Coatings segment was reduced as a result of historical performance, resulting in recognition of pretax impairment charges of $4 million and $38 million, respectively, in Impairment and other related charges, net in the accompanying consolidated statements of income. In 2021, the annual impairment testing review of indefinite-lived intangibles did not result in an impairment.
Aggregate amortization expense was $166 million, $172 million and $138 million in 2022, 2021 and 2020, respectively.
($ in millions)20232024202520262027
Estimated future amortization expense$150 $127 $115 $93 $85