Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE C – GOODWILL AND OTHER INTANGIBLE ASSETS

The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for intangible assets subject to amortization and accumulated goodwill impairment charges are as follows:


	As of March 31, 2023				As of December 31, 2022
(in millions)	Gross Carrying Amount		Accumulated Amortization/ Write-offs		Gross Carrying Amount		Accumulated Amortization/ Write-offs
Technology-related	$	12,707	$	(7,553)	$	12,397	$	(7,378)
Patents	473		(381)		486		(394)
Other intangible assets	2,005		(1,422)		1,960		(1,400)
Amortizable intangible assets	$	15,185	$	(9,357)	$	14,843	$	(9,173)

Goodwill	$	23,169	$	(9,900)	$	22,820	$	(9,900)

IPR&D	$	112			$	112
Technology-related	120				120
Indefinite-lived intangible assets	$	232			$	232

The increase in our balance of goodwill and amortizable intangible assets is related primarily to our acquisition of a majority stake investment in Acotec completed in the first quarter of 2023.

The following represents a roll-forward of our goodwill balance by global reportable segment:


(in millions)	MedSurg		Cardiovascular		Total
As of December 31, 2022	$	4,237	$	8,684	$	12,920


Goodwill acquired	—		336		336
Impact of foreign currency fluctuations and purchase price adjustments	—		13		13
As of March 31, 2023	$	4,237	$	9,032	$	13,269

Goodwill and Intangible Asset Impairments

We did not record any goodwill impairment charges in the first quarters 2023 or 2022. Refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for further discussion of our annual goodwill and intangible asset impairment testing.