The change in the net carrying amount of goodwill for the six months ended July 5, 2025 by segment was as follows (in millions):


	Steel Mills		Steel Products		Raw Materials		Total
Balance at December 31, 2024	$	675	$	2,816	$	797	$	4,288
Translation		-		11		-		11
Balance at July 5, 2025	$	675	$	2,827	$	797	$	4,299

Nucor completed its most recent annual goodwill impairment testing as of the first day of the fourth quarter of 2024 and concluded that as of such date there was no impairment of goodwill for any of its reporting units.

Intangible assets with estimated useful lives of five to 25 years are amortized on a straight-line or accelerated basis and consisted of the following as of July 5, 2025 and December 31, 2024 (in millions):


	July 5, 2025				December 31, 2024
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Customer relationships	$	4,444	$	1,625	$	4,444	$	1,512
Trademarks and trade names		387		204		387		192
Other		129		125		129		122
	$	4,960	$	1,954	$	4,960	$	1,826

Intangible asset amortization expense in the second quarter of 2025 and 2024 was $63 million and $61 million, respectively, and $128 million and $120 million in the first six months of 2025 and 2024, respectively. Annual amortization expense is estimated to be $254 million in 2025; $248 million in 2026; $242 million in 2027; $219 million in 2028; and $198 million in 2029.