Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

10.  Goodwill and Intangible Assets, Net

Goodwill consists of the following:

	June 30, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Impairment		Value		Amount		Impairment		Value
	(in millions)
Automotive	$	337	$	(87)	$	250	$	337	$	(87)	$	250
Food Packaging		6		—		6		6		—		6
Home Fashion		22		(3)		19		22		(3)		19
Pharma		13		—		13		13		—		13
	$	378	$	(90)	$	288	$	378	$	(90)	$	288

Intangible assets, net consists of the following:

	June 30, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Amortization		Value		Amount		Amortization		Value
	(in millions)
Definite-lived intangible assets:
Customer relationships	$	392	$	(239)	$	153	$	392	$	(229)	$	163
Developed technology		254		(104)		150		254		(90)		164
Other		164		(106)		58		164		(101)		63
	$	810	$	(449)	$	361	$	810	$	(420)	$	390
Indefinite-lived intangible assets					$	76					$	76
Intangible assets, net					$	437					$	466

Amortization expense associated with definite-lived intangible assets was $15 million and $14 million for the three months ended June 30, 2024 and 2023, respectively, and $29 million and $29 million for the six months ended June 30, 2024 and 2023, respectively.

We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets.