v3.23.1
Goodwill and Other Identifiable Intangible Assets
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Identifiable Intangible Assets Goodwill and Other Identifiable Intangible Assets
The Company tests indefinite-lived intangible assets and goodwill for impairment by performing either a qualitative evaluation or a quantitative test at least annually, or more frequently if an indication of impairment arises. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit or asset is less than its carrying amount.
The Company did not identify an indication of goodwill impairment for any of its reporting units or an indication of impairment of any of its indefinite-lived intangible assets during the quarter ended March 31, 2023.
The change in the carrying amount of goodwill attributable to each reportable segment for the three months ended March 31, 2023 was as follows:
($ in millions)Performance
Coatings		Industrial
Coatings		Total
January 1, 2023$4,881 $1,197 $6,078 
Acquisitions, including purchase accounting adjustments— 10 10 
Foreign currency impact68 7 75 
March 31, 2023$4,949 $1,214 $6,163 
A summary of the carrying value of the Company's identifiable intangible assets is as follows:
 March 31, 2023December 31, 2022
($ in millions)Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Indefinite-Lived Identifiable Intangible Assets
Trademarks$1,387 $— $1,387 $1,325 $— $1,325 
Definite-Lived Identifiable Intangible Assets
Acquired technology$829 ($647)$182 $827 ($636)$191 
Customer-related1,874 (1,153)721 1,855 (1,112)743 
Trade names315 (165)150 311 (158)153 
Other50 (48)2 50 (48)2 
Total Definite-Lived Intangible Assets$3,068 ($2,013)$1,055 $3,043 ($1,954)$1,089 
Total Identifiable Intangible Assets$4,455 ($2,013)$2,442 $4,368 ($1,954)$2,414 
The Company’s identifiable intangible assets with definite lives are being amortized over their estimated useful lives.
As of March 31, 2023, estimated future amortization expense of identifiable intangible assets is as follows:
($ in millions)Future Amortization Expense
Remaining nine months of 2023$109 
2024$127 
2025$115 
2026$93 
2027$85 
2028$73 
Thereafter$453