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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible AssetsGoodwillThere was no goodwill recorded from acquisitions during the first six months of 2023. The amounts in the “Translation and other” row in the following table primarily relate to changes in foreign currency exchange rates. The goodwill balance by business segment follows:
(Millions) |  | Safety and Industrial |  | Transportation and Electronics |  | Health Care |  | Consumer |  | Total Company
Balance as of December 31, 2022 |  | $ | 4,509 |  | $ | 1,501 |  | $ | 6,515 |  | $ | 265 |  | $ | 12,790
Translation and other |  | 12 |  |  | 9 |  |  | 56 |  |  | 2 |  |  | 79 |
Balance as of June 30, 2023 |  | $ | 4,521 |  | $ | 1,510 |  | $ | 6,571 |  | $ | 267 |  | $ | 12,869
Accounting standards require that goodwill be tested for impairment annually and between annual tests in certain circumstances such as when events or conditions indicate that goodwill assigned to a reporting unit may be impaired. At 3M, reporting units correspond to a division. As described in Note 15, effective in the first quarter of 2023, 3M changed its measure of segment operating performance and the composition of reportable segments and realigned divisions within the Consumer business segment. For any changes that resulted in reporting unit changes, the Company applied the relative fair value method to determine the impact on goodwill of the associated reporting units. The impacts of these changes on reported amounts were immaterial and resulted in no impairment. As of June 30, 2023, the Company's accumulated goodwill impairment loss is $0.3 billion. Acquired Intangible Assets The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets follow:
(Millions) |  | June 30, 2023 |  | December 31, 2022
Customer related intangible assets |  | $ | 4,084 |  |  | $ | 4,062 |
Patents |  | 429 |  |  | 426 |
Other technology-based intangible assets |  | 2,089 |  |  | 2,081 |
Definite-lived tradenames |  | 1,167 |  |  | 1,166 |
Other amortizable intangible assets |  | 82 |  |  | 84 |
Total gross carrying amount |  | 7,851 |  |  | 7,819 |
Accumulated amortization — customer related |  | (1,872) |  |  | (1,747) |
Accumulated amortization — patents |  | (426) |  |  | (421) |
Accumulated amortization — other technology-based |  | (1,098) |  |  | (1,000) |
Accumulated amortization — definite-lived tradenames |  | (543) |  |  | (509) |
Accumulated amortization — other |  | (59) |  |  | (60) |
Total accumulated amortization |  | (3,998) |  |  | (3,737) |
Total finite-lived intangible assets — net |  | 3,853 |  |  | 4,082 |
Non-amortizable intangible assets (primarily tradenames) |  | 617 |  |  | 617 |
Total intangible assets — net |  | $ | 4,470 |  |  | $ | 4,699 |
Certain tradenames acquired by 3M are not amortized because they have been in existence for over 60 years, have a history of leading-market share positions, have been and are intended to be continuously renewed, and the associated products of which are expected to generate cash flows for 3M for an indefinite period of time. Amortization expense follows:
|  | Three months ended June 30, |  | Twelve months ended December 31, |  |
(Millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |  |  |
Amortization expense |  | $ | 121 |  |  | $ | 129 |  |  | $ | 243 |  |  | $ | 260 |  |  |  |  |  |  |
Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2023 follows:
(Millions) |  | Remainder of 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | After 2028
Amortization expense |  | $ | 236 |  |  | $ | 453 |  |  | $ | 423 |  |  | $ | 418 |  |  | $ | 398 |  |  | $ | 379 |  |  | $ | 1,546 |
The preceding expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, accelerated amortization of intangible assets and other events. 3M expenses the costs incurred to renew or extend the term of intangible assets.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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